Why Hong Kong?
"Hong Kong's economy is performing strongly, as it benefits from its positioning as the region's leading financial centre. Hong Kong is the biggest hub for British business in the region, and relations in other areas strong.
UK Trade & Investment
Hong Kong Background Brief, January 2011
Hong Kong is the gateway to China, it always has been and in the foreseeable future, will remain so. This is one of the major factors for Hong Kong's success.
The Hong Kong Economy: Q1 GDP Growth 7.2% published by the British Consulate General in Hong Kong during May 2011 states:
"Hong Kong's economy grew by 7.2% in the first quarter of 2011 (compared to a year earlier). This was slightly higher than growth rate of 7% last year. The growth rate is the fifth consecutive quarter that growth was distinctly above the average annual growth over the past 10 years. On a seasonally adjusted quarter-to-quarter comparison, GDP grew by a notable 2.8% in the first quarter. The government has adjusted its GDP growth forecast upwards to 5-6% for 2011 (up from the 4-5% forecast in February).”
Because of Hong Kong's geographical proximity and the fact that Hong Kong's independent judiciary functions under the Common Law framework, strategically Hong Kong is a 'safe spot' within China. This video from the HSBC Business Thinking Thought Exchange in Hong Kong focuses on
launching your brand locally and highlights why Hong Kong is a 'safe spot'.
Hong Kong's business advantages were in the spotlight for UK business people on
13 September 2011 at
Think Asia, Think Hong Kong held at London's Queen
Elizabeth II Conference Centre.
Many people see China's strength mainly in its economy and although China's
economy now ranks as the second largest in the world, its per capita income is
still roughly 10 times lower than that of Japan and the United States. Due to the low standard of living China is forced to export. This video (
Is China the next superpower?) offers a clear understanding of china's strength and weaknesses.