Hong Kong, a Special Administrative Region of the People’s Republic of China (PRC) since its reversion in 1997, has proven in past economic crises to be exceptionally resilient. Dominant and sustained drivers of economic growth include private consumption (retail), logistics and business services, financial services, real estate development (bolstered by ongoing public infrastructure works), and tourism.

Hong Kong is an ideal platform for doing business in Asia. Hong Kong is a free port that does not levy any customs tariff and has limited excise duties. Its strong rule of law and respect for property rights make it a strategic platform for Asian companies, especially small- and medium-sized firms, seeking to do business in the region.

Hong Kong’s businesses enjoy close links to mainland China and the rest of Asia. Hong Kong has benefited from continued economic integration with mainland China’s growing economy. In particular, Beijing’s policy of opening its service sector and gradually expanding the scope of the offshore renminbi (RMB – the PRC’s currency) market in Hong Kong and the sustained high numbers of mainland Chinese visitors have strengthened Hong Kong’s economy.

Hong Kong’s attractiveness in living and doing business is appealing, offering benefits that are uniquely available among other cities:

● A strategic gateway to growing Mainland China markets;
● A regional financial and logistics hub for expansion across Asia;
● A stable, highly efficient, business friendly cosmopolitan.
● Complete freedom of capital movement
● Clean and efficient government
● Low and simple taxation
● Close proximity to markets in Asian markets
● Highly skilled workforce