With a highly concentrated population of 7.5 million, Hong Kong has the second highest household expenditure per capita in the world – and there is no shortage of savvy consumers seeking out trendy products.  

But Hong Kong is so much more than an attractive initial market for selling consumer goods in Asia. It offers a simple and business friendly tax system and an efficient banking system and plenty of available support for small and medium-sized enterprises as well as investment incentives. And that’s far from all. 

Western companies in Hong Kong are often impressed by its skilled workforce trained at world-class universities, 先进的物流和运输基础设施以及高水平的数字化. 再加上它在珠江三角洲入海口的战略位置, 香港日益成为进入中国内地的第一步. 

SPRINGBOARD TO CHINA AND SURROUNDING MARKETS 

进入中国日博备用网站可能是一个复杂的监管问题, compounded by cultural and language barriers, overseas companies are attracted to Hong Kong by its connector role to mainland China and other key cities in the region.  

Low barriers of entry mean that companies entering Hong Kong receive immediate market response. Besides this, public investments aim to turn Hong Kong into a regional research and development hub within emerging fields such as sustainability and deep tech, 在那里，日博备用网站公司占据优势，而当地的发展才刚刚赶上.  

以下是香港成为区内门户日博备用网站的三个主要原因:   

  • Proximity to China 

Strong ties to mainland China combined with an openness to the world makes Hong Kong a test bed for companies wanting to gauge Chinese potential with a smaller investment. The Business Climate Survey 2023, published by Business Sweden, showed that over half of all Swedish small and medium-sized enterprises in Hong Kong use the city for its position as a gateway to and from mainland China.  

The survey also showed that the SEK 150 billion+ in cross-border consumption by overnight visitors to Hong Kong from mainland China unlocks growth potential extending well beyond Hong Kong’s 7.5 million inhabitants. Chinese authorities’ familiarity with Hong Kong corporate structures makes ownership of a Chinese Foreign Invested Enterprise (FIE) easier from an entity in Hong Kong than from overseas markets and can reduce bureaucracy. 

  • 粤港澳大湾区一体化建设 

大湾区包含三个独立的经济体(粤港澳), but local integration reduces the barriers between them. One example is that certain product registrations and professional licenses carry over from Hong Kong to Guangdong. For example, Hong Kong-registered medical devices can be sold to designated hospitals in Guangdong without registering them in mainland China.  

香港目前没有强制医疗器械注册, 但制造商和进口商可以选择自愿注册第二类, III, and IV devices which takes between six months and a year. Conversely, in mainland China the product registration is mandatory with a timeline of between six months and 2.5 years, depending on classification.  

The more rapid process in Hong Kong creates opportunities for a stepwise entry into the Chinese market by starting in Hong Kong and entering the Greater Bay Area before establishing a stronger foothold in mainland China. 

Several joint initiatives are also taking place through projects such as the Hong Kong-Shenzhen Innovation and Technology Park, and cross-border investments are becoming easier. This creates opportunities to access the 127 million inhabitants of Guangdong from Hong Kong and is the reason why two thirds of the 150 Swedish companies in Hong Kong use their Hong Kong office to cover the Greater Bay Area. 

  • Favourable trade policies 

The Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) covers trade in goods and services, investments, and economic and technical cooperation. 根据CEPA，企业可以通过在香港设立公司向中国内地出口产品. Products originating in Hong Kong enjoy zero tariffs, and businesses trading in services can enjoy benefits under a preferential treatment scheme. By setting up operations in Hong Kong, Swedish companies can simplify entry into the Chinese market. 

Want to know more? Stay tuned to our article series “弥合差距——日博备用网站公司如何在香港实现最大增长” or contact our local advisors.