HKETO Newsroom

Hong Kong’s unique role as a global business hub was highlighted at the 11^th Transpacific Entrepreneurial Conference held on January 14 to 15 (Toronto time), where the city’s exceptional advantages as a “super-connector” and “super value-adder” were shared with an audience of entrepreneurs, investors, and industry leaders from Canada, Hong Kong, and beyond.

This annual conference, jointly hosted by the Canadian Chamber of Commerce in Hong Kong and the Hong Kong-Canada Business Association (HKCBA) and supported by the Hong Kong Economic and Trade Office (Toronto) (HKETO) and Invest Hong Kong (InvestHK), centered on new growth strategies in various industries including sustainability, renewable energy, infrastructure and finance, healthcare, wealth management and clean tech.

In her welcome speech, Director of the HKETO Ms Emily Mo highlighted Hong Kong's strategic position at the heart of Asia, paired with the benefits of the “one country, two systems” principle, which has propelled the city to international acclaim. Recognised as the world’s freest economy, Hong Kong is ranked as the third-largest global financial centre, the fourth-largest foreign direct investment destination, the fifth-most competitive economy, and the world’s tenth-largest merchandise trading entity. The city also leads in global rankings for international trade and business legislation.

“These advantages have attracted an unprecedented number of non-local companies to establish their presence in Hong Kong,” Ms Mo said. “In 2024, we are proud to see the number of non-local companies reach 9,960, as well as 4,694 start-ups thriving in our start-up ecosystem. Notably, Canada has advanced from being the seventh-largest origin of non-local start-ups in Hong Kong to the sixth-largest, reflecting the growing interest and collaboration between our two economies.”

Hong Kong’s pivotal role as a gateway to mainland China was further emphasized, particularly following recent enhancements to the Closer Economic Partnership Arrangement (CEPA), which removes the three-year substantive business operations requirement for Hong Kong service suppliers in most service sectors. This change allows Canadian businesses registered in Hong Kong to access unparalleled opportunities in the mainland market.

Ms Mo also drew attention to Hong Kong’s strong connections with two of the world’s fastest-growing regions: ASEAN and the Middle East. Since 2010, ASEAN has been Hong Kong’s second-largest trading partner, and Hong Kong was ASEAN’s third-largest investor in 2023. High-level delegations from Hong Kong have resulted in the signing of over 100 Memorandums of Understanding with ASEAN and Middle Eastern partners, creating new opportunities for collaboration across a wide range of sectors, including wealth management, professional services, technology, agriculture, and clean energy.

“For Canadian businesses looking to expand into these vibrant markets, Hong Kong provides an unrivalled platform to scale operations and seize growth opportunities,” she added.

In closing, Ms Mo remarked that with 30 Economic and Trade Offices (ETOs) across the globe and in mainland China, as well as a strong presence through Invest Hong Kong and the Hong Kong Trade Development Council, the city is uniquely positioned to act as a “super-connector” and “super value-adder” for businesses seeking international growth. She invited entrepreneurs and innovators to explore the unmatched opportunities Hong Kong offers.

The 11th Transpacific Entrepreneurial Conference included six panel and round-table discussions with over 20 speakers from leading companies in different sectors. Head of Business and Talent Attraction of InvestHK Canada, Mr Christopher Chen, shared insights at the panel themed “Empowering Innovations Into Our Future”.