Hong Kong’s Business Landscape Expands

The international nature of Hong Kong’s business landscape continues to grow, with expansions and newcomers in the areas of technology, cuisine, retail and financial services. RBC Capital Markets, one of the leading Canadian financial services providers, is among the many that have launched new services or set up offices in Hong Kong.

RBC Capital Markets, the corporate and investment banking arm of RBC Financial Group, has launched services in Hong Kong to strengthen its regional presence. RBC Financial Group has had a presence in Hong Kong since 1985. Today, its operations include corporate and investment banking, private banking, custody services and retail brokerage.

UK-based education tools developer ED.UK.8 Worldwide Ltd. has opened a Hong Kong office to market its educational toys, tools, media and appliances for children and to serve as a springboard to enter the Mainland market. Company chairman, Ms Christine Lawson, cited Hong Kong’s business-friendly nature, central location and level playing field as some of the reasons for its decision on a Hong Kong base.

BlackPearl, Inc., a US-based software solutions provider for the financial services industry, has established its Asia Pacific headquarters in Hong Kong. Hong Kong’s position as a global financial hub provided the company with a ready-made marketplace, according to the CEO, Mr Seybold. 

A new Hong Kong regional headquarters will be an important base for leading wireless broadband technology provider Navini Networks. The company chose Hong Kong because of its unbeatable logistics system, its position as a gateway to Mainland China and its close proximity to other players in the telecom sector.

Avid Technology (S.E. Asia) Pte Ltd, a market leader in digital nonlinear media, has expanded its North Asia operations in Hong Kong. Avid North Asia (Hong Kong) Ltd will oversee sales and marketing operations in Hong Kong, the Mainland and Taiwan and be responsible for market development of all its products in North Asia.

German-based testing institute, VDE, selected Hong Kong for its Greater China centre. VDE Global Services HK will be responsible for the business operations of representative offices in six Mainland cities. The company’s President, Dr Gerhard Dreger, said Hong Kong was appealing because of its fast, customer-oriented processing of VDE testing and certification services, and its access to decision-makers throughout the region.

Japanese restaurant Mi-ne Sushi has opened its first restaurant in Hong Kong, citing consumers’ special passion for Japanese cuisine. Managing Director of Japan-Dining-World Co Ltd, Mr Masazumi Hayashi, said that the company has plans to open more restaurants in Hong Kong.

Leading Spanish fashion brand ZARA opened its first store in Hong Kong, the first wholly owned and managed ZARA store in Asia by its parent company Inditex. Mr David Konn, Managing Director of ZARA Asia Ltd, said the company was confident about its future because Hong Kong consumers were very sophisticated and receptive to fashion.


T
he first GEOX concept shop opened in Hong Kong in April. President of GEOX Group, Mr Mario Moretti Polegato, said that Hong Kong is a market of strategic importance. The popularity of the products made by the Italian comfort footwear manufacturer, which have been sold in Hong Kong by Mirabell International Holdings Limited for 4 years, prompted the opening of the Tsimshatsui retail outlet.

Renowned Italian fashion brand Dolce & Gabbana has opened its first self-owned flagship store in Hong Kong, a strategic step towards an expansion in central Asia. The move reinforces Hong Kong’s reputation as Asia’s leading luxury shopping destination and international style capital.

Louis Vuitton has selected Hong Kong as one of the four cities worldwide to host its 150th anniversary celebration. The company said the decision was based on the important leadership of Hong Kong in the global fashion and retail industry. Hong Kong joins Paris, New York and Tokyo as host cities.



Spanish-based shipping and transport company Operasia Forwarding Ltd chose Hong Kong as the location for its regional office. According to Managing Director, Mr Arturo A Segarra, the growth of bilateral trade between Spain and Asian countries has prompted the company to offer a “tailor-made solution and knowledge to its Spanish and European-related customers.”

ACE Hardware Corp, the largest hardware retailer-owned co-operative in the US, has opened its first international buying office in Hong Kong, designed to streamline sourcing and business development outside the US. Mr Murray Armstrong, Managing Director – International Department, said the new buying office would serve as an important window to Mainland China and the rest of the region.

The Department further announced on Janaury 29 that with effect from July 1 this year, travelers will no longer be required to submit health declaration forms. Body temperature check for travelers leaving Hong Kong will cease with effect from July 12.

Temperature screening will, however, be maintained for all in-bound travelers. “The modified health screening measures at immigration control points could protect public health and at the same time would not cause unnecessary inconvenience to travelers,” the Department said.


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