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Regional Website: United Kingdom


Hong Kong Spotlight

HK-UK Business Partnership

 
Export Sentiment Boost  

After a slow start to the year, the economic momentum is gathering pace around the world, according to new findings by the Hong Kong Trade Development Council (HKTDC).

“Although global economic growth has been sluggish in the first half of 2015, market conditions indicate that the external environment will improve in the second half of the year,” said Nicholas Kwan, HKTDC Director of Research. 

Among mature markets, the United States is expected to be “the leader of the pack, with its growth momentum buttressed by lower unemployment, steady wage growth, improvements in the real estate market, shrinking household debt and strengthening consumer confidence,” said Daniel Poon, HKTDC Principal Economist (Global Research). “In the EU, with the launch of a large-scale bond-buying scheme and the European investment plan to promote economic growth, the pace of recovery should pick up in the second half of this year and the next year.”

 

 

 


 

According to a World Bank study published in April, Hong Kong ranks fourth in the world on a global ranking of material well-being. The study measures all expenditures in the economy that directly benefit individuals – rather than using GDP per capita. By this measure, the five economies with the highest individual consumption, per capita, are: Bermuda, the United States, the Cayman Islands, Hong Kong and Luxembourg.  

Letizia Garcia Casalino, Director, International Accounts, Hong Kong Sotheby’s International Realty, said Hong Kong is considered a prime destination for any professional, whether a CEO, young professional or entrepreneur. “The vibe that Hong Kong offers is unique, and people who want to move here usually know it,” said Ms Casalino, who is Italian. “Hong Kong opens a lot of doors, and that is also why it’s a favourite destination for a lot of people with different objectives.” 

- See more at: http://www.hktdc.com/info/web/mi/article.htm?LANGUAGE=en&ARTICLE%5fID=1X09Y7ZG&DATASOURCE=hkti#sthash.hY6HlSgF.dpuf

Letizia Garcia Casalino, Director, International Accounts, Hong Kong Sotheby’s International Realty, said Hong Kong is considered a prime destination for any professional, whether a CEO, young professional or entrepreneur. “The vibe that Hong Kong offers is unique, and people who want to move here usually know it,” said Ms Casalino, who is Italian. “Hong Kong opens a lot of doors, and that is also why it’s a favourite destination for a lot of people with different objectives.” 

- See more at: http://www.hktdc.com/info/web/mi/article.htm?LANGUAGE=en&ARTICLE%5fID=1X09Y7ZG&DATASOURCE=hkti#sthash.fgcdBbRQ.dpuf

According to a World Bank study published in April, Hong Kong ranks fourth in the world on a global ranking of material well-being. The study measures all expenditures in the economy that directly benefit individuals – rather than using GDP per capita. By this measure, the five economies with the highest individual consumption, per capita, are: Bermuda, the United States, the Cayman Islands, Hong Kong and Luxembourg.  

Letizia Garcia Casalino, Director, International Accounts, Hong Kong Sotheby’s International Realty, said Hong Kong is considered a prime destination for any professional, whether a CEO, young professional or entrepreneur. “The vibe that Hong Kong offers is unique, and people who want to move here usually know it,” said Ms Casalino, who is Italian. “Hong Kong opens a lot of doors, and that is also why it’s a favourite destination for a lot of people with different objectives.” 

- See more at: http://www.hktdc.com/info/web/mi/article.htm?LANGUAGE=en&ARTICLE%5fID=1X09Y7ZG&DATASOURCE=hkti#sthash.fgcdBbRQ.dpuf

Peter Levesque is Chairman of the American Chamber of Commerce in Hong Kong (AmCham), and Chief Commercial Officer of Modern Terminals Ltd. He has more than 25 years of international transportation and logistics experience and has been working in the Asia-Pacific region since 1996. In Six Questions, Mr Levesque explains why the Chinese mainland remains a promising market for foreign companies.  

Why is it no longer business as usual in China?
After 30 years of remarkable growth, China’s economy is maturing. This is creating new business opportunities and markets for international corporations, but it’s also driving many international business leaders to re-calculate their long- and short-term China strategy. 

Business leaders are evaluating opportunities around China’s growing middle class, as well as its aging population. Executives are also keeping a close eye on market reform opportunities that may result from the testing being done inside Shanghai’s pilot Free Trade Zone. In such a rapidly changing environment, it is critical that businesses executives dealing in China be able to identify and exploit new opportunities early to ensure their future competitiveness and to drive profitable growth.       

- See more at: http://www.hktdc.com/info/web/mi/article.htm?LANGUAGE=en&ARTICLE%5fID=1X09YE0U&DATASOURCE=hkti#sthash.Ozi6gbUA.dpuf

According to a World Bank study published in April, Hong Kong ranks fourth in the world on a global ranking of material well-being. The study measures all expenditures in the economy that directly benefit individuals – rather than using GDP per capita. By this measure, the five economies with the highest individual consumption, per capita, are: Bermuda, the United States, the Cayman Islands, Hong Kong and Luxembourg.  

Letizia Garcia Casalino, Director, International Accounts, Hong Kong Sotheby’s International Realty, said Hong Kong is considered a prime destination for any professional, whether a CEO, young professional or entrepreneur. “The vibe that Hong Kong offers is unique, and people who want to move here usually know it,” said Ms Casalino, who is Italian. “Hong Kong opens a lot of doors, and that is also why it’s a favourite destination for a lot of people with different objectives.” 

- See more at: http://www.hktdc.com/info/web/mi/article.htm?LANGUAGE=en&ARTICLE%5fID=1X09Y7ZG&DATASOURCE=hkti#sthash.CdAZMRjR.dpuf

According to a World Bank study published in April, Hong Kong ranks fourth in the world on a global ranking of material well-being. The study measures all expenditures in the economy that directly benefit individuals – rather than using GDP per capita. By this measure, the five economies with the highest individual consumption, per capita, are: Bermuda, the United States, the Cayman Islands, Hong Kong and Luxembourg.  

Letizia Garcia Casalino, Director, International Accounts, Hong Kong Sotheby’s International Realty, said Hong Kong is considered a prime destination for any professional, whether a CEO, young professional or entrepreneur. “The vibe that Hong Kong offers is unique, and people who want to move here usually know it,” said Ms Casalino, who is Italian. “Hong Kong opens a lot of doors, and that is also why it’s a favourite destination for a lot of people with different objectives.” 

- See more at: http://www.hktdc.com/info/web/mi/article.htm?LANGUAGE=en&ARTICLE%5fID=1X09Y7ZG&DATASOURCE=hkti#sthash.CdAZMRjR.dpuf

The insurance industry has undergone major changes in the past decade. But recent developments in Asia, including the growth of high-net-worth consumers, make the region a market with strong potential. Results in Hong Kong bear this out.

Profitable Year

Hong Kong's insurance sector last year grew 13.9 per cent, year-on-year, as companies sold or re-issued premiums valued at US$37.5 billion. Revenue from established policies contributed US$31.9 billion to insurance company coffers, a 15.2 per cent increase on 2012, according to provisional statistics released by the Office of the Commissioner of Insurance.

Life and annuity revenue increased 18.4 per cent, to US$22.2 billion, for non-linked business, and by 9.5 per cent, to US$7.03 billion, for linked business. Contributions of retirement scheme business grew by 2.1 per cent to US$2.19 billion.  

For the 155 insurers authorised in Hong Kong at the end of 2013, the news is generally good.

Strong sales in Hong Kong have contributed to a record quarter for the AIA Group Ltd, a Hong Kong-headquartered, pan-Asia insurance group. For the quarter ending 28 February, AIA recorded 22 per cent growth in the value of new business, which was a “very positive start to the year,” said Mark Tucker, AIA’s Group Chief Executive and President.

 

 
  Mark Tucker, Chief Executive and President of AIA Group Ltd, talks about why Hong Kong is the perfect base for his company
“Excellent growth” in Hong Kong was a highlight of the quarter, while the Chinese mainland was the group’s strongest performing business overall. - See more at: http://www.hktdc.com/info/web/mi/article.htm?LANGUAGE=en&ARTICLE%5fID=1X09XMRF&DATASOURCE=hkti#sthash.90OWPzzJ.dpuf

The insurance industry has undergone major changes in the past decade. But recent developments in Asia, including the growth of high-net-worth consumers, make the region a market with strong potential. Results in Hong Kong bear this out.

Profitable Year

Hong Kong's insurance sector last year grew 13.9 per cent, year-on-year, as companies sold or re-issued premiums valued at US$37.5 billion. Revenue from established policies contributed US$31.9 billion to insurance company coffers, a 15.2 per cent increase on 2012, according to provisional statistics released by the Office of the Commissioner of Insurance.

Life and annuity revenue increased 18.4 per cent, to US$22.2 billion, for non-linked business, and by 9.5 per cent, to US$7.03 billion, for linked business. Contributions of retirement scheme business grew by 2.1 per cent to US$2.19 billion.  

For the 155 insurers authorised in Hong Kong at the end of 2013, the news is generally good.

Strong sales in Hong Kong have contributed to a record quarter for the AIA Group Ltd, a Hong Kong-headquartered, pan-Asia insurance group. For the quarter ending 28 February, AIA recorded 22 per cent growth in the value of new business, which was a “very positive start to the year,” said Mark Tucker, AIA’s Group Chief Executive and President.

 

 
  Mark Tucker, Chief Executive and President of AIA Group Ltd, talks about why Hong Kong is the perfect base for his company
“Excellent growth” in Hong Kong was a highlight of the quarter, while the Chinese mainland was the group’s strongest performing business overall. - See more at: http://www.hktdc.com/info/web/mi/article.htm?LANGUAGE=en&ARTICLE%5fID=1X09XMRF&DATASOURCE=hkti#sthash.90OWPzzJ.dpuf

Seven months since the Central Government launched the China (Shanghai) Pilot Free-Trade Zone, the Hong Kong Trade Development Council earlier this month organised a business mission to the area.

Among the 20 some-members who took part in the mission was Christopher Hammerbeck, Executive Director of the British Chamber of Commerce in Hong Kong. The longtime head of the local British chamber says the Shanghai pilot scheme offers significant opportunities for Hong Kong

- See more at: http://www.hktdc.com/info/web/mi/article.htm?LANGUAGE=en&ARTICLE%5fID=1X09XE9L&DATASOURCE=hkthk#sthash.n9IX5yZX.dpuf

Hong Kong has one of the world’s most sophisticated and successful telecommunications and Information and Communications Technology (ICT) markets. Its mobile penetration rate of about 232 per cent, as reported by the Hong Kong Office of the Communications Authority, also makes the city among the most connected markets globally.  

As the industry is wholly privately owned, with no foreign-investment restrictions, all services are open for competition. The level playing field, coupled with the advanced technology and quality services of Hong Kong's telecommunications/ICT sector, is an attractive proposition for multinational companies. 

American telecom firms AT&T and Verizon are among the major players that have set up regional operations in the city, while leading Chinese ICT manufacturer Huawei took its first steps into the overseas markets via Hong Kong.

- See more at: http://www.hktdc.com/info/web/mi/article.htm?LANGUAGE=en&ARTICLE%5fID=1X09XVZG&DATASOURCE=hkti#sthash.DRwCLewd.dpuf

What's New

Alain de Botton is known for his philosophical approach to everyday issues Celebrated Authors Set for HK Book Fair
18 June 2015 (Press Release)
This year’s Book Fair will be held under the theme of “Reading the World ・ Love at First Book”. More than 300 events will be organised during the Book Fair with a wide range of authors taking part.

Vincent HS Lo takes office as HKTDC Chairman on 1 June 2015 Vincent HS Lo Takes Up HKTDC Chairmanship
1 June 2015 (Press Release)
Mr Lo takes over HKTDC chairmanship from Mr Jack So. HKTDC promotes Hong Kong's two-way trade with the world in goods and services.

Cathay Pacific China Business Awards 2015 display their trophies Winners of Cathay Pacific China Business Awards 2015
26 May 2015 (Press Release)
The Continued Commitment Award, The Rising Star Award, and The Social Responsibility Award celebrate UK and Irish business dynamism and success in China and Hong Kong.

Cleantech Futures Seminar Cleantech Futures Seminar, Cambridge, 2 June
22 May 2015 (Press Release)
The seminar will be held at The Trinity Centre, Cambridge Science Park, Milton Road, Cambridge, CB4 0FN, from 0830 – 1730 hrs on Tuesday 2 June 2015.

Preliminary map of One Belt, One Road. "One Belt ,One Road" Initiative: Implications for Hong Kong
27 April 2015 (Press Release)
The initiative aims to promote connectivity in policy co-ordination, facilities, unimpeded trade, financial integration and people-to-people bonds.
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All Upcoming Events

Date Event City Event Format
15 - 21 July 2015 HKTDC Hong Kong Book Fair 2014
Hong Kong Exhibition

13 - 17 Aug 2015 HKTDC Home Delights Expo 2015
Hong Kong Exhibition

13 - 15 Aug 2015 Hong Kong International Tea Fair 2015
Hong Kong Exhibition

13 - 15 Aug 2015 HKTDC Hong Kong International Tea Fair 2015
Hong Kong Exhibition

8 - 12 Sept 2015 HKTDC Hong Kong Watch & Clock Fair
Hong Kong Exhibition

27 - 30 Oct 2015 HKTDC Hong Kong International Lighting Fair 2015 (Autumn Edition)
Hong Kong Exhibition

5 - 7 Nov 2015 HKTDC Hong Kong International Wine & Spirits Fair 2015
Hong Kong Exhibition
More