The Chinese economy is always in the news. From changing GDP projections to fluctuation in the growth rate and pollution affecting industrial output; something is always happening. These hiccups do not change the overall picture that China is a huge economy and market and will continue to be so. The questionis not whether it will become the largest economy in the world but how soon will it become the largest economy. That time is not far off.
For most westerners, and even for people from Asia, China is unfamiliar territory. With a single party political system, unfamiliar and often difficult to learn languages and dialects, systems of control that both hamper and promote commercial growth, the conditions there are those that outsiders have no experience with. There are obstacles to overcome, but as so many businesses, large, medium and small, from all corners of the globe have shown, the rewards are more than worth the effort. Finding the right base and obtaining the right kind of support is critical to making the right start.
The Nikkei Asian Review has once again given Hong Kong the status of the most prominent business hub in Asia. 61% of business in the west say it is the best base for the Asian market as a whole and the Chinese market in particular. 52% of Asian companies also said the same.
There are many factors that make Hong Kong so attractive. Among them are
• Ease of setting up operations
• A clear and transparent tax regime
• World class infrastructure
• An educated and English speaking workforce
• World class communications
• Physical proximity to China and other major markets
Hong Kong is a Special Administrative Region (SAR) of Chinawhich allows it a great deal of freedom and flexibility in creating a positive business environment. It has a very active and cooperative economic relationship with the mainland and is the leading conduit for foreign investment, the mainland’s second largest trading partner and the primary off-shore capital raising center. The massive demand being generated by the emerging middle class in the mainland, makes Hong Kong the ideal showcase for goods and services,for base networking, information sharing, and for generating business opportunities.
Hong Kong has zero export tariff, strict intellectual property laws, an uncorrupted political system and bicultural business professionals who are at ease working both in and outside China. These are a few of the reasons why so many mainland enterprises are using Hong Kong as their base to expand operation on a global level and where it is easy to contact them.
There are hundreds of flights every week between Hong Kong and all the key cities and manufacturing hubs in China. When the high speed rail network starts operation, access to the mainland’s largest consumer centers will be even easier. A simple visa system makes entry to mainland business hubs simple and quick.
There is much more that Hong Kong offers. Having a local partner that can provide you with the service, support and guidance you need, will save you time, money and will enable your business to become productive quickly.
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