How has the "Canada-Hong Kong Advantage" been put to use?
Canada has enjoyed longstanding bilateral relations with Hong Kong through political, commercial and people-to-people ties. Hong Kong continues to rank among Canada's top 10 trading partners, 8th largest in 2016, due in part to the market's gateway to opportunities in Mainland China and across Asia.
Hong Kong serves as an ideal place to do business, as well as facilitate two-way trade between Canada and Asia for a number of reasons:
- The Canada – Hong Kong Avoidance of Double Taxation Agreement and Hong Kong’s low and simple tax regime make it a business-friendly environment for Canadian companies
- The Mainland – Hong Kong Closer Economic Partnership Agreement, the free trade agreement between Mainland China and Hong Kong, brings opportunities to foreign investors active in Hong Kong in trade of goods and services as well as investment
- Hong Kong is a world class financial centre; it is the world’s largest offshore Rmb market, 2nd largest IPO Centre and 3rd largest stock market in Asia
- Hong Kong is strategically located within 5 hours flight time from half the world's population and its world class infrastructure makes travel, logistics and telecommunications simple for international companies
- Hong Kong has business-friendly immigration policies and a strong local pool of skilled talent
Over the years, companies from across the country have taken advantage of this close relationship in order to benefit their international expansion and foreign investment efforts. Read on to learn how other organizations, across a broad range of sectors, have positioned Hong Kong as part of their global strategy and which specific advantages have contributed to their success.