Hong Kong - The Preferred Hub for Business and Professional Services in the Region

Hong Kong is well established as the leading service and business capital for the Asian region, with some 88% of GDP derived from service industries. Hong Kong is a net exporter of services. In 2005, the value of services exported amounted to US$61.5 billion or 34.7% of GDP.

Hong Kong's business and professional services include accountancy, law, management consultancy, engineering, architecture, education, design, quality inspection and testing, with much of the sector growth fuelled by the strong presence of the world's leading financial institutions and multinational corporations.

Hong Kong is currently home to 7,289 practicing solicitors and barristers, 25,629 certified public accountants, 10,908 registered engineers and over 2,350 registered architects.

In addition to the cluster of experts at hand, the quality and high standard of Hong Kong's professional services is also what attracts increasing commerce from the region and beyond. Professional and government bodies ensure that international standards are adhered to and corporate governance rigorously enforced.

What the decision-makers say

"Opening an office in Hong Kong is part of our firm's strategic growth plans in China, which complements our strong teams in Beijing and Shanghai. Our new office in Hong Kong will allow us to better serve China-based clients in their transactional projects that often involve parties and financing needs in Hong Kong. It also will facilitate our work with Hong Kong-based clients throughout the region."

Jun Wei, Co-Managing Partner, China
Hogan & Hartson LLP


"Hong Kong meets our needs perfectly. Multinational corporations engage our services here, in the trusted and sophisticated business environment. Given Hong Kong's central location, the production facilities of these companies are usually nearby, often just over the border in the PRD. This works for us; we can easily meet clientsâ needs through our network of testing facilities."

Mr Fabrice Egloff, Executive Director
SGS Hong Kong Ltd

"Asia Pacific is one of the world's most robust markets. Our Hong Kong office enables us to deliver a wide range of customised solutions to corporations doing business in this region, and helps our clients take advantage of the unlimited business opportunities that exist here."

Mr Aram Minnetian, President and CEO
Weichert Relocation Resources Inc


"Hong Kong's facilities, infrastructure and talent pool provide an excellent entrepreneurial climate for our company. There is no question that Hong Kong provides The Executive Centre with the best location from which to manage our growth across the Asian markets."

Mr Paul Salnikow, Chief Executive
The Executive Centre


"Hong Kong is the service centre for Asia. For providing high level legal services that often require complex financing and when things go wrong, a strong legal system "Hong Kong is the best place from which to work."

Mr Alexander de Neree, Senior partner
Bloemers De Neree Advocates


"Hong Kong's free flow of trade, capital and information are essential to our business success. Under the stable and business-friendly environment, we have achieved healthy growth in our businesses since our establishment here in 2000."

Mr Marcus Moufarrige, General Manager, Asia and CIO
Servcorp Ltd

Service Firms Witness Growth

As the preferred hub for business and professional services in the region, Hong Kong has witnessed remarkable growth in this sector.

The number of professional service firms has increased by 20% in the last five years to approximately 11,700 establishments. The sector employs almost 88,000 people and generates over US$4 billion in value added annually, or 2.7% of Hong Kong's GDP.

In 2005 business receipts of the professional services sector increased by 10.2% over a year earlier, a trend set to continue with the robust economic situation in Hong Kong coupled with mainland China's growing demand for professional services.

Hong Kong is an obvious choice of location if your goal is business success in Asia.

Interested in the mainland China market but unsure how best to enter?

The Closer Economic Partnership Arrangement (CEPA) presents opportunities to prospective foreign professional firms to gain preferential access to the Mainland market via partnership with Hong Kong service providers. Utilising Hong Kong's expertise helps you gain access to the mainland China market ahead of the WTO schedule while offering a prudent risk management strategy. Business and professional service sectors covered by CEPA include management consulting, accounting, legal services, executive search and recruitment, advertising, PR and more.

 Includes firms rendering legal, accounting, auditing, bookkeeping, architectural, surveying, and engineering services as well as those engaged in business management and consultancy services