Dear Reader,
In this issue we present to you the summary of our GIC/GCC Business Confidence Survey 2023. The annual survey provides an overview of the current sentiment, ongoing challenges, and short-term expectations of German companies in Hong Kong, as well as local companies with business ties to Germany. Find more insights below.
You’ll also find our recap of the spectacular Hong Kong FinTech Week 2023 featuring a German Pavilion for the very first time; the official highlight reel of our 70-60-40 Triple Anniversary Celebration in October; the latest AHK Annual Report 2022 with facts and figures from our global chamber network; as well as several event updates for Hong Kong and Germany.
As always, we thank you for your continuous support and look forward to receiving your feedback. Enjoy the read and stay connected!
Your GIC/GCC Team |
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| German Business in Hong Kong 2023 |
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Each summer, GIC and GCC conduct a joint Business Confidence Survey to gauge the current sentiment and economic outlook of the German business community in Hong Kong. The 2023 edition gathered 81 responses from representatives of German subsidiaries in Hong Kong, locally founded companies under German ownership, as well as local and international companies with significant business ties to Germany.
Key findings: - Business confidence in Hong Kong over the next two years showed a strong recovery with significant improvements compared to last year’s survey.
- Respondents also rated the confidence of their overseas stakeholders in Hong Kong significantly higher compared to last year. However, the discrepancy between how respondents assessed their own business confidence in Hong Kong vs. that of their overseas stakeholders continued to widen.
- Every third respondent saw improvements in the overall economic situation compared to last year, while almost half found that conditions had worsened. 50% assessed the political climate as worse than in 2022.
- The relocation trend has clearly declined. 85% stated their company was not considering a relocation out of Hong Kong in the coming 12 months.
- Finding and retaining talent remains a major challenge for the German business community. Many respondents saw a negative trend since 2022, both in terms of recruitment of local talent and attraction of talent from overseas. Looking ahead into 2024, only few respondents expect improvements for overseas and local talent.
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| This year, GIC organised the very first German Pavilion at Hong Kong FinTech Week, enabling fintech innovators from Germany to connect and engage with the Hong Kong ecosystem. During a special afterparty on 3 November, the start-up delegates had the opportunity to pitch in front of a keen audience of finance professionals, investors, and innovation enthusiasts! |
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| We’re delighted to share the official highlight reel of the 70-60-40 Triple Anniversary Celebration of the German Consulate General Hong Kong, Goethe-Institut Hong Kong, and GCC, in conjunction with the German Unity Day Reception at M+ in October. Our heartfelt thanks and appreciation once again to all our sponsors, members and partners who joined us on this special occasion! |
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| From supply chain diversification to hydrogen, the AHK Annual Report 2022 highlights a variety of topical events and initiatives, as well as economic insights and statistics from the global network of German Chambers of Commerce Abroad (AHK). The full report is available for download in English language. |
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GIC Events in Germany / German Language |
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| Hong Kong as a Market for Green Building Technology | | Two-Part online Seminar | 
| Nov 14 & 15, 2023
(GMT+1) |
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| A two-part online seminar series focusing on sustainable building technology.
Hong Kong is a leading business centre in Asia with a high demand for energy-efficient solutions in the building sector. The approximately 42,000 buildings in Hong Kong are responsible for 90 percent of the city's total electricity consumption. Against this background, an urgent modernisation of the building sector is required, which presents significant business opportunities for German suppliers of innovative solutions for sustainable building design, construction, and maintenance.
The seminar series aims to showcase market potentials in Hong Kong and prepare companies for a successful market entry in the SAR. A special focus will be on developing a product strategy that is specifically tailored to the Hong Kong market and meets the needs and requirements of the local industry. The seminars provide an opportunity to gain in-depth knowledge of the market and regulatory framework from local industry experts and make initial contact with potential business partners.
The online sessions will be conducted in English and German language. | |
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17 Nov 2023 | Hamburg | Language: German Current Trends in Hong Kong and the Greater Bay Area
Join this informative business luncheon, organised by German Industry and Commerce in partnership with the German Hong Kong Association (Deutsche Hongkong Gesellschaft e.V.) and supported by Hamburg Invest and Port of Hamburg Marketing. | More info |
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20 Nov 2023 | Stuttgart | Language: German Baden-Württemberg International Consultation Day 2023
Meet the Delegate and Chief Representative of German Industry and Commerce in Hong Kong, Hannes Farlock, and Director for Business Development and Innovation at GIC, Hendrik Hillebrecht, for individual consultations at this event organised by the Chamber of Commerce and Industry (IHK) Region Stuttgart. | More info |
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21 Nov 2023 | Stuttgart | Language: German Innovation Hubs of the Future: What Role Do Hong Kong and the Greater Bay Area Play?
We look forward to welcoming you to an engaging panel discussion on innovation trends in Hong Kong and the surrounding GBA, followed by a networking lunch. This event is organised by German Industry and Commerce in partnership with OAV – German Asia-Pacific Business Association and IHK Region Stuttgart. | More info |
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22 Nov 2023 | Frankfurt a. M. | Language: German Frankfurt International Consultation Day 2023
Book your individual appointment with the Delegate and Chief Representative of German Industry and Commerce in Hong Kong, Hannes Farlock, and Director for Business Development and Innovation at GIC, Hendrik Hillebrecht, at this consultation event organised by IHK Frankfurt. | More info |
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23 Nov 2023 | Munich | Language: German Trade & Connect 2023
After a long hiatus and a special edition in 2022, Bavaria’s largest forum on foreign trade is finally back in its original format. Meet Hannes Farlock and Hendrik Hillebrecht for individual consultations on your business journey in and via Hong Kong at the IHK for Munich and Upper Bavaria. | More info |
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GIC/GCC Supporting Events |
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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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20-23 Nov 2023 Construction Industry Council Global Construction Sustainability Forum and Exhibition (GCSFE) 2023
GCSFE 2023 is the first-of-its-kind construction sustainability mega event in Hong Kong, with an aim to address sustainable development in the construction industry. The 4-day GCSFE 2023 features exhibitions, forums, award ceremonies, charter signing ceremonies, and technical tours.
These activities will connect various aspects of industry transformation, promote innovation in digitalisation, cross-border and cross-sector collaboration, and development in the ESG (Environmental, Social, and Governance) field.
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Atrellus Business Services specialises in taking MS Excel to a new level, developing highly automated, functional, and easy to use MS Excel Apps. Atrellus helps both Fortune 500 companies and small businesses simplify and benefit from transforming their continuing reliance on MS Excel. |
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BSH Home Appliances (“BSH Hong Kong”), founded in December 1993, is a subsidiary of BSH Hausgeräte GmbH (“BSH”). Since its incorporation, BSH Hong Kong has been overseeing marketing and sales of products bearing the globally established appliance brands BOSCH and SIEMENS within Hong Kong and Macau. |
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studio rgb was founded in 2010. With the mission to transform places into experiences for international and local clients, studio rgb has completed more than 500 projects in China and around the globe since. |
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Terra Institute was born in 2010 and has since developed into a well-established strategic consulting and management training company and a leader in guiding companies towards sustainability and the circular economy. |
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New Primary Corporate Representatives - Hapag-Lloyd (China) Ltd. – Mr. Danny Chui, Sales Director
- The Hongkong and Shanghai Banking Corporation Ltd. – Mr. Pradip Johari, Deputy Head of International Subsidiary Banking
- Linde Gas (Hong Kong) Ltd. c/o Linde HKO Ltd. – Mr. Bertie Liu, General Manager
- TÜV Rheinland Hong Kong Ltd. – Mr. Limao Tian, Managing Director
Find all 2023-24 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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| ...German pianos are going strong in Hong Kong? |
| As one of the most renowned piano manufacturers in the world, the traditional Steingraeber brand recently celebrated its reappearance in the Hong Kong market.
Founded in Bayreuth in 1852, the Steingraeber family business is run in the seventh generation by siblings Fanny and Alban Steingraeber. Each piano is 100% handmade in Germany to the highest quality standard and distributed to markets around the world, including Hong Kong and Macau. At the Steingraeber Piano Conference held in Tsim Sha Tsui recently, guests had the opportunity to learn first-hand about the history and unique craftsmanship behind the world-renowned brand and listen to exclusive performances by famous Hong Kong pianists Ms Lee Ka-ling (pictured) and Mr Stephen Hung.
Steingraeber premium pianos are just one example of the continuing success of high-end products and brands “Made in Germany” in Hong Kong! |
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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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