SMEs Expand Global Footprint
More than 70% of Hong Kong Small and Medium Enterprises (SMEs) are now exporting globally – a significant increase over the past three years, new industry research reveals. Forecasters expect the proportion to grow further under the thriving digital economy.
he study commissioned by FedEx Express, a subsidiary of FedEx Corp. and the world’s largest express transportation company, shows that Asia-Pacific markets are proving just as lucrative for these companies as other regions globally. Survey findings show exports now account for 88% of revenues of Hong Kong SMEs, higher than the Asia-Pacific average. The total export revenues of Hong Kong SMEs have increased 24% over the past two years, with the Chinese mainland their top export market (accounting for 52%), followed by Taiwan (37%) and Japan (30%). Outside the Asia-Pacific region, Europe and Central/South Asia are the top export markets.