HKTDC Executive Director Margaret Fong welcomes business visitors to Hong Kong following the dropping of travel restrictions.

As global financial woes blunt overseas markets, Hong Kong firms are looking to Mainland China, and especially the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), but are faced with several challenges, a survey shows.

A serial entrepreneur based in Hong Kong for more than 20 years, France-born Sophie Martineau set up her medical supplies business Aquila Healthcare under the brand AquilaVIE in 2020. The launch was in response to the COVID-19 pandemic, when demand for personal protective equipment (PPE) such as masks rapidly outpaced supply.

Innovation was front and centre in the maiden Policy Address of Hong Kong Special Administrative Region Chief Executive John Lee on Wednesday. The innovation and technology (I&T) concept ran through many of the moves Mr Lee plans for the city, ranging from expanding Hong Kong’s role as a renminbi trading centre and fintech hub to becoming a magnet for technological talent. Fintech plans include laying the groundwork for a digital Hong Kong dollar.

Businesses in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) are pinning their hopes on Asian economies, particularly Mainland China and countries in the Association of Southeast Asian Nations (ASEAN), going forward, while the financial sector is seen as having the best prospects overall.