The Hong Kong Trade Development Council (HKTDC) set up the Hong Kong Fashion Pavilion at the third China International Consumer Goods Fair (Consumer Expo) and led 22 Hong Kong companies to the exhibition, promoting more than 50 high-quality brands of mid-to-high-end consumer goods, and expanding the huge domestic market.
As the Belt and Road Initiative reaches its 10th anniversary the international intermodal railway – the China-Laos Express connecting Chengdu, Chongqing and Vientiane, the capital of Laos – has gone into operation, greatly improving the flow of people and logistics between Mainland China and Association of Southeast Nations (ASEAN) members, and has also led more and more mainland companies to choose to expand their business to Southeast Asia.
Mainland China presents massive domestic sales opportunities. The Hong Kong Trade Development Council (HKTDC) led Hong Kong companies to participate in the China International Import Expo (CIIE) in Shanghai last year and helped Hong Kong companies find partners to introduce organic and healthy foods from countries along the Belt and Road to the mainland market.
Links between China and the Arabian Peninsula date back centuries – the Aladdin legend reputedly originated in China and marine trade with and through Arabia long predated links with Europe – so it is no surprise that Hong Kong reached out to Saudi Arabia and the United Arab Emirates after travel restrictions ended.
China’s Dual Circulation Strategy, laid down in the 14th Five-Year Plan, aims to develop offshore trade and investment in parallel with the country’s domestic economy. The strategy presents a golden opportunity for Hong Kong, which has long served as one of China’s gateways to the world. At the same time, the city serves as a perfect platform for mainland investment firms, giving easy access to both the mainland and the world at large.
As pivot points between Mainland China and the rest of the world, Hong Kong and the broader Guangdong-Hong Kong-Macao Greater Bay Area both have key roles to play in the Belt and Road Initiative. As COVID-19 restrictions ease and physical gatherings are made easier, government and business leaders from around the world will converge on Hong Kong for the Belt and Road Summit at the end of this month.
Learn about latest market updates and insights to empower your business.