Financial & Professional Services Oppty

An Expert's View about Finance in Hong Kong SAR

Last updated: 29 Jul 2011

Hong Kong is Asia’s hub for financial services, particularly strong in banking, insurance, asset management, wealth management and professional services.

Sector briefing Financial and Professional Services Opportunities in Hong Kong and Macao Why Hong Kong? Hong Kong is Asia?s hub for financial services, particularly strong in banking, insurance, asset management, wealth management and professional services. Links with the UK are very strong and the City of London is virtually replicated here. The Hong Kong Special Administrative Region (HKSAR) Government is committed to ensuring that Hong Kong remains one of the world?s leading financial centres. Hong Kong?s role as a leading global capital formation centre, asset management centre and offshore Reminbi (RMB) business centre presents further opportunities for UK financial, legal, ?Hong Kong is one of the leading accountancy and other business services global financial services centres companies. in the world. As of 2011, Hong rd Find general information on Hong Kong market Kong is ranked 3 in the Global conditions on UKTI?s website. The Doing Financial Centre Index, behind Business Guide for Hong Kong gives an London and New York.? overview of Hong Kong?s economy, business culture, potential opportunities and an introduction to other relevant issue. UK Trade & Investment Sector briefing: Financial and Professional Services opportunities in Hong Kong and Macao Companies based in Hong Kong are well placed Opportunities to help international companies expand into China and to help companies in the region The financial services sector is one of Hong invest in the UK. For example, good Kong?s four traditional pillar industries. opportunities exist for helping Hong Kong and The financial services sector contributed more Chinese companies through private equity, than 16% of Hong Kong?s GDP. venture capital and London listings. Hong Kong taps into business opportunities to Opportunities for UK companies in Legal attract more large enterprises to list in Hong Services Kong by offering its well-established financial The HKSAR Government is planning to set up a and trading platform in focus to expand their Financial Services Dispute Resolution Centre international business. There are particular (FDRC) by mid 2012. There are opportunities opportunities for professional advice in mergers for training and dispute resolution for the UK and acquisitions, corporate finance, business legal sector in these fields. restructuring, enterprise health checks, manpower planning and risk management. In ? Commercial order to maintain and compete at a higher ? Corporate finance level as a whole, Hong Kong encourages ? Listing law individuals to pursue a ongoing professional training to upgrade their knowledge and skills. ? Arbitration and mediation (with focus on financial services and marine law) Development of Renminbi Banking ? Intellectual property protection Business ? IT law ? Projects, energy and construction law China has selected Hong Kong as the only ? Anti-monopoly law region to internationalise its Renminbi (RMB) currency, which allows Hong Kong to reinforce its position as an international financial centre Opportunities for UK companies in with major progress in developing as an Financial Services offshore RMB business centre. In 2010, there were 16 RMB bonds issued in Hong Kong, ? Banking and Insurance products raising a total of RMB36 billion. A wide ? Loan financing spectrum of issuers included local and foreign corporations, Hong Kong branches of foreign ? Foreign exchange dealings given the banks, international financial institutions and increasing demand for Renmenbi (RMB) the bonds received strong market response transactions from both retail and institutional investors. ? RMB bond issuance There are considerable opportunities and ? Insurance and medical protection potential for UK companies in RMB fund raising products in Hong Kong. ? Private equity funding Gateway to China and the Asia Pacific ? Mergers & acquisitions Region ? Financial services training ? Financial skills training Hong Kong is Asia?s regional centre and China?s international financial capital centre for Macao international capital raising, IPOs and listings, Although a much smaller market than Hong especially for Mainland Chinese-owned Kong, Macao has demonstrated its effort to companies. As of March 2011, Mainland develop into an offshore financial centre in the enterprises accounted for 57% of the total direction of becoming a free port of Renminbi market capitalisation and 64% of the equity circulation and financial intermediation turnover. In the first quarter of 2011, their platform for the Mainland enterprises. The share of total equity raised was 56% and they internationalisation of the Renminbi, as well as remained the major source of new listings, capital flows in the Mainland significantly accounting for 42% of the total number of promote the formation of an offshore market, listed companies. which create numerous opportunities to the development of Macao?s banking industry. UK Trade & Investment Sector briefing: Financial and Professional Services opportunities in Hong Kong and Macao If you have any questions on the opportunities Find full details of all events in this above, please contact the UKTI contact named country and sector on the UKTI website. in this report. Business opportunities aimed New export events are added daily to the site specifically at UK companies are added daily to and you can register to be alerted to them on a UKTI?s website. These leads are sourced by our daily, weekly or monthly basis staff overseas in British Embassies, High Commissions and Consulates, across all sectors UKTI?s Tradeshow Access Programme (TAP) and in over 100 markets. provides grant support for eligible Small & Medium Sized Enterprises (SMEs) to attend You can be alerted to business opportunities on trade shows overseas. Find out more about a regular basis by registering on the UKTI UKTI support for attendance at overseas website. Find out more on UKTI?s business events opportunities service on the UKTI website UKTI contacts Major events and activities N aomi Neal Head of Financial Services, China, Asia Pacific China ? UKTI London Market Visit and Americas Contact: UKTI International Trade Team UK Trade & Investment ? London Email:Vanesaperez@uktilondon.org.uk Tel: +44 (0) 207 215 8248 Time: 2 ? 10 July 2011 Email: Naomi.Neal@ukti.gsi.gov.uk www.ukti.gov.uk Doing Business in China, Hong Kong & Japan (Seminar) Claire Ip Contact: UKTI International Trade Team Assistant Trade Commissioner Email: Zoe.shelbourne@uktisoutheast.com British Consulate General Time: 6 July 2011 Hong Kong Tel: (852) 2901 3154 World SME Expo 2011 Email: Claire.Ip@fco.gov.uk Contact: Hong Kong Trade Development www.ukinhongkong.fco.gov.uk Council Email: exhibitions@hktdc.org Clara Chung Time: 1 -3 December 2011 Trade Adviser British Consulate General Hong Kong International Licensing Show Hong Kong 2012 Tel: (852) 2901 3093 Contact: Hong Kong Trade Development Email: Clara.Chung@fco.gov.uk Council www.ukinhongkong.fco.gov.uk Email: exhibitions@hktdc.org Time: 9 ? 11 January 2012 Asian Financial Forum 2012 Contact: Hong Kong Trade Development Council Email: aff@hktdc.org Time: 16 ? 17 January 2012 Visit of Lord Mayor of City of London in Hong Kong and China Contact: UKTI Financial Services Sector Group Email: Naomi.Neal@ukti.gsi.gov.uk Time: Summer/autumn 2012 UK Trade & Investment Sector briefing: Financial and Professional Services opportunities in Hong Kong and Macao Next steps - How UKTI can help British companies wishing to develop their business in the Hong Kong and Macao markets are advised to undertake as much market research and planning as possible in the UK. UKTI?s team in Hong Kong, with its wide local knowledge and experience, can provide a range of services to British-based companies wishing to grow their business in global markets. This can include: ? Provision of market information ? Validated lists of agents/distributors ? Key market players or potential customers in the local market ? Establishment of interest of such contacts in working with you ? Arranging appointments ? Organise seminars or other events for you to meet contacts and promote your company in the local market This work is available via our Overseas Market Introduction Service (OMIS) a chargeable service which assists British-based companies wishing to enter or expand their business in overseas markets. To find out more about commissioning this work, or accessing other UKTI services and specialist advice, please visit the UKTI website to find contact details for your local UKTI office. Whereas every effort has been made to ensure that the information given in this document is accurate, neither UK Trade & Investment nor its parent Departments (the Department for Business, Innovation & Skills, and the Foreign & Commonwealth Office), accept liability for any errors, omissions or misleading statements, and no warranty is given or responsibility accepted as to the standing of any individual, firm, company or other organisation mentioned. Published 2011 by UK Trade & Investment. Crown Copyright © Published 2011 by UK Trade & Investment. ©Crown Copyright 2011 You may reuse this information (not including logos, images and case studies) free of charge in any format or medium, under the terms of the Open Government Licence. To view this licence, visit www.nationalarchives.gov.uk/doc/open- government-licence/ or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: psi@nationalarchives.gsi.gov.uk This publication is also available from our website at www.ukti.gov.uk or for more information please telephone +44 (0)20 7215 8000. UK Trade & Investment Sector briefing: Financial and Professional Services opportunities in Hong Kong and Macao
Posted: 28 July 2011, last updated 29 July 2011

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