GREAT Trade & Investment News
Hong Kong & Macao
April 2023
For a comprehensive round up of the latest UK-Hong Kong and Macao Trade and Investment news, insights and information kindly refer to the April Newsletter below:
Great HK & Macao TI Newsletter April 2023
China Direct would like to thank the Trade and Investment team at the British Consulate in Hong Kong for kindly sharing this information.
James Baldwin once said, “Not everything that is faced can be changed, but nothing can be changed until it is faced”. It is fair to say that we are all living through a period of huge change right now. For the UK, we saw the sad passing of one of the greatest monarchs of all time, Queen Elizabeth II. For Hong Kong, the end of quarantine hotels and light at the end of the opening up tunnel. For the world, an economic outlook that changes daily. All of these herald, for better or worse, new times ahead.
As I mark my two-year anniversary here at the British Consulate Hong Kong, I and the DIT Team are certainly looking ahead with a positive attitude to deliver even more trade and investment between the UK and Hong Kong. The team have had a hugely successful first half of the year as it is, with record levels of UK exports and some high-value Hong Kong investment into the UK. So as we look towards the second half of the year, I’d encourage you all to engage ever more with the team and help us to deliver even more success.
Corin Wilson, Acting Director-General, Trade & Investment, Hong Kong & Macao
To view the September newsletter please click here.
Our thanks to Corin and the team at the British Consulate in Hong Kong & Macao for kindly sharing the latest UK-China trade and investment news.
Dear CBI Members and Partners,
Macro Polo has an excellent article analysing where China’s future economic hubs are likely to be and – spoiler alert – they’re the Pearl and Yangtze River Deltas. Nothing new there perhaps however the fact that these two regions and a selection of other key cities representing around 10% of China’s cities will likely generate some 90% of the PRC’s productivity and growth, is a startling future trend to consider.
To access the briefing please click here.
Our sincere thanks to Macro Polo and The Paulson Institute for kindly sharing this commentary.
The CBI is pleased to be a supporting organisation for the British Chamber The Greater Bay Area initiative (GBA) Summit on 17th June 2021.
[email protected] British Chamber of Commerce in Hong Kong for this virtual Summit that will act as a platform to hear from leaders what the GBA means for their business – the operational issues and realities, and where they see the best new opportunities arising.
This important virtual event will allow you to gain insight into Hong Kong's role as your gateway for international business growth in the GBA.
Please click here to find out more and register. @The British Chamber of Commerce in Hong Kong
CBI member, KPMG has launched the 4th edition of its Greater Bay Area consumption report. Titled Digital Retail on the Rise, this year’s report provides an overview of digitalisation and technology trends in retail sectors across Hong Kong and its neighbouring cities. According to KPMG, the majority of Greater Bay Area consumers identify as ‘tech-savvy’ with fast-emerging digital technologies appearing to be responsible for the transformation in the ways consumers behave.
The findings reveal that Hong Kong consumers are far more likely than their mainland counterparts to manage their finances online (77% vs. 56%) or make payments by mobile (73% vs. 59%). This, according to KPMG, indicates a more conventional mode of digital engagement in Hong Kong. The survey also measured consumer habits across the GBA in researching and selecting products online. Brand websites were revealed to be one of the more common resources that consumers in Hong Kong (54%) and the nine mainland cities that make up the GBA (58%) look at for product details. Hong Kong consumers also prefer to browse price comparison websites for their research, while mainland consumers prefer to search online for user reviews.
Alice Yip, partner, head of consumer & industrial markers, Hong Kong KPMG said: “Digital technology is transforming the retail industry. As data analytics drives growth for companies and consumers become more tech-savvy, expectations for faster and better ways of doing business are rising.”
To read the report in full, please follow the link.
CBI member, ABB has announced plans to open a new innovation centre in Shenzhen, Guangdong province. The new centre, which will be situated within the main innovation hub of China’s new Greater Bay Area initiative, will open in the second half of this year to provide local solutions for smart building development.
Oliver Iltisberger, managing director of ABB Smart Buildings said, “As China is seeking new ways to promote energy efficiency and minimise carbon emissions to design healthier environments in its cities, ABB is now experiencing fast growth in the areas of intelligent building and related electrical businesses.”
The launch of the new innovation centre is a direct result of the group’s restructuring in 2018, where ABB decided to focus its business on four areas – electrification, industrial automation, motion, and robotics and discrete automation.
The company has been keen to promote its services in China, and opened a new customer experience centre in Beijing on Monday, to highlight the potential for development of smart cities with infrastructure upgrades, carbon free transportation and energy saving.
ABB becomes the latest in a long line of CBI members to have made announcements relating to investment in the Greater Bay Area. To find out more about opportunities for foreign businesses in the area, please follow the link.
