Dear Reader,
This month German Industry and Commerce (AHK Hong Kong) had the privilege of hosting a remarkable start-up delegation in Hong Kong, co-organised by the German Accelerator and International Start-up Campus. Below we will look deeper into the Start-up Ecosystem of Hong Kong.
In this issue you will also find GTAI's view point of how Asia' Hub is faring after two and a half years of essentially having its border closed and its robust movements of highly qualified locals and expatriates. The International Monetary Fund expects real gross domestic product (GDP) growth of 3.5 percent in 2023 and 3.1 percent in real terms in 2024.
We thank you for your outstanding support and hope to see you very soon!
Your Team at GIC/GCC |
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| The Start-Up Landscape of Hong Kong |
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Hong Kong is a vibrant, multifaceted metropolis that blends history with ongoing innovation. Key sectors like finance, trade, logistics, professional services, and tourism form the foundation of its service-based economy. In recent years, Hong Kong has also promoted a strong start-up environment, especially in the fields of digital and sustainable technology. 3,985 businesses were documented in 2022, an increase of more than 68% over the previous five years, representing a considerable increase in the number of start-ups.
FinTech, e-commerce, logistics, and IT industries are the most attractive for start-ups. In addition, Hong Kong has experienced success with unicorn start-ups, with about a dozen businesses valuing themselves at over US$1 billion in the last ten years. These include innovative tech companies in sectors like banking, payment providers, crypto ventures, blockchain gaming, logistics, travel booking, e-commerce, and artificial intelligence. |
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| Hong Kong's borders are open again. Broadly based economic sectors strengthen the economic growth of the financial metropolis. Read the latest analysis by GTAI (in German language). |
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GIC/GCC Supporting Events |
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12-13 Oct 2023 EdTech Month Summit
The EdTech Month Summit gathers thought leaders, practitioners and innovators to look into technology (particularly the role of generative AI) as a catalyst to transform teaching and learning. The Summit will showcase the latest trends and developments in K12 education, higher education and workforce development, with practical case sharing from Asia and around the world.
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12-23 & 27-29 Oct 2023 Mega Show
The 2023 edition MEGA SHOW Series presents 4 themed shows - MEGA SHOW Part 1, Asian Sporting & Outdoor Products (Activities) Show, Design Studio, Tech Gifts & Gadgets Accessories Show, and MEGA SHOW Part 2.
The 2023 shows will again present a strong line-up of exhibitors displaying their new product designs and versatile ranges in the following major product sectors.
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2-3 Nov 2023 Hong Kong FinTech Week 2023
Hong Kong FinTech Week is one of the largest and most influential fintech events in Asia, bringing together top industry leaders, regulators, investors, and entrepreneurs from around the world. The event features a range of activities including exhibitions, keynotes & panel discussions, workshops, networking sessions and business matchmaking.
Running successfully for the past 7 years, with a focus on the leading technologies shaping the industry, Hong Kong FinTech Week is an essential destination for anyone interested in the future of finance and technology, making it an essential platform for businesses seeking to enhance their brand, showcase their expertise and scale to the next level.
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8-17 Nov 2023 StartmeupHK Festival 2023
The annual StartmeupHK Festival is a unique platform for startups, investors, industry leaders, tech enthusiats and government officials to exchange ideas, make connections and chart a course for the future.
Guided by the theme A Future Unlimited, the 2023 edition will feature a series of main events with discussions around hot topics such as Web3, HealthTech, PropTech and sustainability, and a series of exciting activities like pitching competitions, startup-investor matchings and much more.
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Business Media Associates Ltd. was established in Hong Kong in 2007. The company’s main business activity has always been the organisation of international B2B exhibitions and conferences in emerging markets. |
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Since 2006, VisaPro has been offering prompt and professional Hong Kong visa services. With over 15 years of experience in the immigration industry, VisaPro specialises in providing various types of immigration services to individual and corporate clients of over 90 countries. |
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New Primary Corporate Representatives - ALBIS Plastic (Far East) Ltd. – Mr. Klaus-Simon Dröge, Managing Director
- AnyDesk Software (Hong Kong) Ltd. – Ms. Karen Ko, Marketing Manager
- CEI Conrad Electronic International (Hong Kong) Ltd. – Ms. Rebecca Cheung, Director
- DHL Global Forwarding (Hong Kong) Ltd. – Mr. Mark Andrew Slade, Managing Director
- Gebrüder Weiss Hong Kong Ltd. – Mr. Michael Zankel, Regional Director
- Merck Pharmaceutical (HK) Ltd. – Mr. Tony Cheng, General Manager, Hong Kong and Macau
Find all 2022-23 representative changes at a glance here. |
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Is Your Profile Up to Date?
Our online Member Directory is your access point to relevant information and contacts within the GCC network – anytime from anywhere. To maintain a reliable source for new connections and business opportunities, it’s essential that your company profile is kept up to date.
Learn how to update your profile here.
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... H.K. taxis were once all Mercedes-Benz vehicles
Hong Kong taxis are well-known for their distinctive colours, which vary depending on the region. In urban areas, taxis are predominantly red, while taxis in the New Territories are green, and those on Lantau Island are blue. These colours help differentiate the taxis and make them easily recognisable on the streets of Hong Kong.
As of now, approximately 18,000 taxis are operating in Hong Kong. Among them, blue taxis are the least common, with around 75 vehicles. The majority of taxis in Hong Kong are red. In the past, particularly until the 1960s, many Hong Kong taxis were Mercedes-Benz vehicles. Over time, the taxi fleet diversified, and various other vehicle brands and models were introduced.
One notable feature of Hong Kong taxis is the display of distinctive call signs on the roof of the vehicles. These signs indicate the availability of the taxi. When the sign is lit, it means the taxi is vacant and available for hire. When the sign is turned off, it signifies that the taxi is occupied or not available for hire. This system helps potential passengers identify whether a taxi is available or not, even from a distance.
Taxis in Hong Kong also serve as mobile advertising platforms. Many taxis have advertisements displayed on their exteriors, turning them into moving billboards. Advertisements can be found on the sides, rear, and even the roof of taxis. This form of advertising is popular in Hong Kong due to the high visibility of taxis in densely populated areas and the frequent movement of taxis throughout the city. It provides advertisers with an effective way to reach a wide audience.
And speaking of Hong Kong taxi heritage stay tuned, for those attending our Triple Anniversary celebrations on 9 October in M+ we have a special surprise waiting for you. |
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Contact
Do you have any questions or comments? Let us know!
Hendrik Hillebrecht Director, Business Development & Innovation
T: +852 2526 5481 | D: +852 2532 1218 |
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© 2023 German Industry and Commerce Ltd. German Chamber of Commerce, Hong Kong 19/F, COFCO Tower | 262 Gloucester Road | Causeway Bay | Hong Kong T: +852 2526 5481 | F: +852 2810 6093
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