Hong Kong, Mainland China & Asia: Challenges and Opportunities in 2020 and beyond Webinar | Tuesday, May 5, 2020
Webinar Partners: 2
Su He, Executive Director Greater Cleveland Chinese Chamber of Commerce Moderator
Hong Kong, Mainland China & Asia – Challenges and Opportunities in 2020 and beyond Moderator Panelists Winchell Cheung Director Midwest, Hong Kong Trade Development Council Su He Kimberly Kirkendall Executive Director President Greater Cleveland Chinese Chamber International Resource of Commerce Group, Inc . 4
Non-profit organization serving Chinese and American business communities in • Northeast Ohio. 3 Groups: • Chinese companies pursue business opportunities in the U.S. – – Local business owners, professional, entrepreneurs, and students in Northeast Ohio American companies and professionals want to learn more about doing – business in China Provide support on: • Professional knowledge – – Link to partners and networking opportunities Delegations – https://www.clechinesechamber.com Communities care –
Hong Kong, Mainland China & Asia – Challenges and Opportunities in 2020 and beyond Moderator Panelists Winchell Cheung Director Midwest, Hong Kong Trade Development Council Su He Kimberly Kirkendall Executive Director President Greater Cleveland Chinese Chamber International Resource of Commerce Group, Inc . 6
Winchell Cheung, Director Midwest Hong Kong Trade Development Council Speaker
Hong Kong Trade Development Council A Hong Kong statutory body Assists international companies and investors to explore and enter established in 1966 new markets in Mainland China and throughout Asia Helps international businesses explore opportunities in and through Hong Kong Facilitates Chinese outbound investment in both mature and Promotes Hong Kong as Asia’s emerging markets business platform and services hub A go-to organisation for Asia and Connects businesses worldwide Greater Bay Area opportunities with Hong Kong partners, including product suppliers and A partner for start-ups & SMEs services providers 50 offices globally, including 13 in Mainland China Provides market intelligence www.hktdc.com @hktdc Tel: (852) 1830 668 https://www.linkedin.com/company/hong-kong-trade-development-council 8
Hong Kong Economic Update ➢ Three months into the fight ➢ Economic performance ➢ US – China trade conflict ➢ Anti-epidemic efforts ➢ Supporting businesses
Asia and Mainland China Economic Outlook China and Emerging & Developing Asia offer great opportunities for US products and services. Real GDP % Growth Estimates/Projections (IMF) Economies 2017 2018 2019 6.5 6.5 6.5 Emerging & Developing Asia^ 6.4 Mainland China 6.9 6.6 2.2 Advanced Economies * 2.4 2.4 3.9 World 3.7 3.9 ^Including Mainland China , India, ASEAN nations except Singapore, etc Including US, Canada, Euro area, UK, Switzerland, Sweden, Norway, Denmark, Czech Republic, Israel, • Australia, New Zealand, Japan, Korea, Singapore, Taiwan, Hong Kong, etc (Source: IMF World Economic Outlook , July 2018) 10
ASEAN & Hong Kong Hong Kong 11
ASEAN & Hong Kong Ranking of FDI flow to ASEAN as a whole in 2018 (latest stats): HK: 3rd (US$10.1 billion), US: 5th (US$ 8.3 billion) Hong Kong US Remarks Malaysia 3 rd 5 th (end-2018 stock) Myanmar 4 th 13 th (end-2019 stock) Indonesia 4 th 7 th (2018 flow) Vietnam 4 th 11 th (2018 flow) Thailand 3 th 4 th (end-2018 stock) Philippines 13 th 6 th (2018 flow) Singapore 10 th 1 st (end-2018 stock) Brunei 1 st NA (2018 flow) Cambodia 2nd NA (2018 flow) 12
Strategic Hub to Expand Your Business Hong Kong has forged eight ➢ FTAs: Mainland, New Zealand, • Member States of the European Free Trade Association, Chile, Macao, Association of Southeast Asia Nations, Georgia, Australia Hong Kong has signed ➢ CDTAs with 40 tax jurisdictions
Guangdong-Hong Kong-Macao Greater Bay Area POPULATION 70mn (5% of China’s population) >UK, Italy, South Africa LAND AREA 56,000 km 2 GDP US$ 1.6 trillion >Ireland, Latvia, Panama, West Virginia (US) (12% of China’s GDP) >Indonesia, Netherlands, Turkey ➢ Comprises Hong Kong, Macao and nine Guangdong cities ➢ 4 core cities: Hong Kong, Macao, Guangzhou and Shenzhen 14
Greater Bay Area: Objectives ➢ To develop an international first class bay area for living, working and travelling ➢ Highly vibrant and innovative ➢ Optimized industrial structure ➢ Smooth flow of various factors (e.g. people, goods, capital and information) ➢ Pleasant ecological environment ➢ Infrastructural connectivity (1-hour living circle) 15
Hong Kong: Ideal Location Gateway to Mainland China and Asia Harbin Changchun Shenyang Beijing Shijiazhuang Dalian Tianjin Seoul Taiyuan Jinan Tokyo Zhengzhou Nanjing Xian Hefei Osaka Chengdu Fukuoka Wuhan Shanghai Chongqing Hangzhou Changsha Nanchang All of Asia’s key Kunming Guiyang Fuzhou Guangzhou Guilin markets within Delhi Dhaka Taipei Hong Kong Haikou Hanoi Mumbai Bangkok Manila Chennai Bangalore Ho Chi Minh City Colombo Kuala Lumpur from half the Singapore world’s population Jakarta 16
Leveraging Hong Kong Advantages World’s freest economy for 25 consecutive years No.2 for economic freedom No. 1 air cargo hub World’s 2 nd most competitive economy World’s 3 rd east of doing business World largest IPO market 2018 & 2019 No. 1 financial system No. 3 FDI inflows and No. 4 FDI outflows 17
Janet Yellen at Asian Financial Forum Hong Kong, January 13 – 14, 2020 “It’s a place where free enterprise thrives, rule of law, highly open capital markets, great financial expertise and a home for the world’s greatest financial institutions.” 18
Hong Kong: Strong Fundamentals Rule of law: protection of contracts & IP Free flows of information, people, goods & capital Level playing field 19
The Hon. Beverley McLachlin – Judge, HK Court of Final Appeal “The law is very rigorously applied. It’s a very high level of judging. The court is independent.” 20
Low and Simple Tax System Ease of Paying Taxes Rankings 2019 (PwC + World Bank) Country Ranking 1 Hong Kong Factors: UAE 2* Total tax & Qatar 2* contribution rate Ireland 4 Time taken to Bahrain 5 comply with obligations Singapore 8 No. of payments Korea 24 Post-filing Thailand 59 procedures Malaysia 72 Japan 97 Indonesia 112 Mainland China 114 India 121 • Qatar and UAE are tied at No.2 21
Hong Kong: Global Business Hub Bridge linking Asian and global companies Large number of overseas companies: >8,700, June 2018 Visa- free entry for 170 countries’ nationals 120 consulates > 30 overseas business chambers 22
Risk Management & Dispute Resolution Risk management: presence of large pool of international professionals More than half of Global 100 law firms have presence in Hong Kong Hong Kong Law Society has a Belt and Road Committee Hong Kong: Most preferred arbitral seat outside Europe; 3rd worldwide (Queen Mary University of London survey 2015) 23
Vibrant start-up scene in Hong Kong 24
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Facilitating growth of start-ups through HKTDC’s worldwide promotions i. Our anchor events in Hong Kong SmartBiz Expo SmartBiz Expo Entrepreneur Day event showcasing technology event showcasing technology start-up event for information, funding, enhancement, transformation and enhancement, transformation and connections and talents upgrading solutions for SMEs upgrading solutions for SMEs Themes • Enterprise Connect • Enterprise Connect • Hospitality, edtech, healthtech, smart city Link up start-ups with corporate users Link up start-ups with corporate users E-Living Hackathon • Young talents to pitch their ideas for solving pain points in our daily life GBA Compass • Seminar series on GBA opportunities 27
Facilitating growth of start-ups through HKTDC’s worldwide promotions i. Our anchor events in Hong Kong InnoVenture Salon & Fintech Showcase 50 The first-ever IP Hatch at BIP Asia Forum Start-ups at the Asian Financial Forum Connect start-ups with investors and media through exhibition, demo hours, knowledge exchange sessions and business matching 307 Startup Zones in HKTDC’s trade fairs Start-ups Will target start-ups from Shenzhen, Guangzhou, Zhongshan and Dongguan Electronic Fairs & ICT Gifts & Premium Houseware Fair Medical and Healthcare Fair Fair Expo 28
hktdc.com Sourcing Business as usual with HKTDC online marketplace Connect global buyers and suppliers amid ▪ trade show rescheduling and travel bans arising from Covid-19 pandemic Fulfill buyers’ procurement needs during ▪ peak sourcing seasons Theme-based promotional campaigns in ▪ response to global sourcing trends and demands 29
US Products in Demand Wine and Liquors Food Products Lifestyle Brands ICT Beauty and Personal Care Products Environmental products Medical supplies
US Services in Demand Start-ups (Innovation and Technology) Fintech Brand Marketing Green Technology E-Commerce Solutions Logistics software Healthcare Technology
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