Record 400-plus HK firms join Shanghai import expo

A record high of over 400 Hong Kong businesses have joined the China International Import Expo in Shanghai, aiming to leverage the event for entry into the mainland market. Among the newcomers is a Hong Kong accounting firm that has witnessed a 30 percent increase in mainland clients seeking overseas expansion over the past year.

Man Law, the CEO of the firm's greater China division, told RTHK that expanding abroad is no longer a trend, but a practical necessity to manage risks and foster growth. The expo provides an ideal platform to highlight Hong Kong's role as a springboard for international growth, especially through tax incentives. Man Law explained that setting up an office and hiring staff in Hong Kong offers access to double taxation avoidance agreements signed between Hong Kong and numerous countries, with potential savings exceeding 50 percent at their peak.

Another first-time exhibitor is a craft brewery showcasing its award-winning, Hong Kong-made beer, aiming to tap the mainland market. The brewery's marketing director is confident in the brand's competitiveness, noting that many mainland consumers have a strong appetite for Hong Kong products. Local academic institutions, including Hong Kong Polytechnic University, are also participating in the expo.

PolyU vice-president Zheng Zijian highlighted the university's establishment of 12 research institutes on the mainland for incubation programs, bringing innovations such as robots and food technology to the expo. Zheng emphasized the benefits of deep integration with the mainland, contributing to integration with the country's talent, science, technology, and education.