Hong Kong: Asia's Technology Marketplace 

The depth and breadth of Hong Kong’s technology industry, coupled with its links to the rapidly growing Mainland market, offer great potential for Canadian technology companies. That was the message put forth recently by the Director of the Hong Kong Economic & Trade Office in Canada, Mr Bassanio So, in Vancouver.

Speaking at a luncheon presentation organized by the Vancouver Section of the Hong Kong Canada Business Association, Mr So, told participants, “Hong Kong industries excel in certain technological areas like innovation, commercialization, application and industrial engineering, which are backed by a technology cluster composed of local as well as foreign enterprises.”

The range in this sector is due to the area’s sizeable cluster of companies engaged in various technology-related industries, such as electronics and parts and components, auto parts, information, communications and telecommunications and environmental protection. Citing Hong Kong’s R&D and innovation activities, Mr So said about 3,860 companies were engaged in R&D activities in 2004, while 15,685 companies were engaged in innovation activities. 

Mr So told his audience that this congregation of technological activities is due to a number of Hong Kong advantages, including: 

¨ Conducive business environment (world-class transportation network, stringent IPR protection and enforcement, availability of professional services, advanced communications infrastructure, proximity to Mainland China, and simple and low tax regime);
¨ Industry-specific advantages (presence of clusters of tech-related industries, clusters of foreign firms, availability of a pool of engineering and technical professionals, proximity to huge industrial market); and 
¨ Technology hardware advantages (access to sensitive technology and high-tech equipment, advanced digital telecommunications and satellite infrastructure
Availability of state-of-the-art hardware infrastructure (Science and Technology Parks, Cyberport).

In addition, a substantial number of Hong Kong companies have also set up distribution networks in the Mainland, shifting to intermediary sourcing technology for the Mainland from the international market. Mr So pointed out that, “Hong Kong can act as an agent for commercializing the Mainland’s technology in marketing to overseas companies.”

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