Record 400-plus HK firms join Shanghai import expo
A record high of more than 400 Hong Kong businesses are taking part in the China International Import Expo in Shanghai hoping to use the event as a launchpad for entry into the mainland market. Among the first-time exhibitors is a Hong Kong accounting firm, which has seen a 30-percent surge over the past year in mainland clients seeking to expand overseas. Man Law, CEO of the firm's greater China division, told RTHK that venturing abroad was no longer just a trend, but a practical necessity for managing risks and driving growth. The expo, he said, is an ideal stage to highlight Hong Kong's role as a springboard for international growth, particularly through tax incentives. "Suppose you have set up an office and hired staff in Hong Kong," Law said. "When expanding into Southeast Asia or investing in other foreign markets, you can take advantage of the double taxation avoidance agreements signed between Hong Kong and many countries. "At their peak, tax savings could exceed 50 percent." Another first-time exhibitor is a craft brewery that is working up a thirst at the expo for its award-winning, Hong Kong-made beer. The brewery's marketing director said the brand aims to tap the mainland market, confident that its craft beers will...
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