Hong Kong Economic and Trade Office (Toronto)

Director of the Hong Kong Economic and Trade Office (Toronto) (HKETO), Ms Emily Mo, shared updates on Hong Kong’s economic landscape and promoted Hong Kong’s economic strengths and opportunities at 2024 Canada Spring Economic and Trade Summit on May 9.

In her video speech at the Hong Kong segment of the Summit, Ms Mo emphasised Hong Kong's pivotal role as a gateway to Mainland China and Asia, noting its status as the most internationalised city in the Guangdong-Hong Kong-Macao Greater Bay Area, and Hong Kong's business-friendly environment with its common law system, free economy, a simple tax regime, a renowned financial system as well as world-class international talent and professional services with extensive knowledge on the global markets.

Ms Mo emphasised that the benefits of the Closer Economic Partnership Arrangement and other bilateral agreements such as the Canada-Hong Kong Avoidance of Double Taxation Treaty and the Foreign Investment Promotion and Protection Agreement, provided a solid support for Canadian companies to expand their business operation in Hong Kong and the mainland China.

She highlighted some recent developments, including the influx of companies setting foot in Hong Kong in 2023, particularly strategic enterprises bringing substantial investments and job opportunities. “Hong Kong also got a new record of numbers of startups and their staff employed in 2023.   Over 4,200 start-ups were in Hong Kong, and a quarter of them are founded by non-locals.  Canada has the 7th largest share,” she said.

Looking ahead, Ms Mo expressed confidence in Hong Kong’s resilience in the face of global economic challenges.  Noting that "flight capacity between Canada and Hong Kong will fully resume to pre-pandemic levels by the end of this year, making business travel to Hong Kong very convenient", she invited forum attendees to consider Hong Kong as a destination for business growth.

Ms Connie Lam, Assistant Manager of Investment Promotion of Invest Hong Kong (Canada), moderated the Hong Kong segment of the Summit, at which the Founder and Business Development Director of Fuwa Fuwa Pancakes, Mr Benson Lau, shared his success story of using Hong Kong as a platform for their business expansion globally.

The three-day Summit was organised by the Canada Xinflix Entrepreneur Chamber of Commerce with the support of Destination Markham and the Markham Board of Trade.