China reopening to the global business community

The significance of China’s reopening to the global business community cannot be understated.

Jurga is currently in Guangzhou to connect with friends and attend the Canton Fair 2023, which is the 133rd edition of this grand event since its inception in 1957. Tens of thousands of traders from across the globe are participating.

Similar to her experience in Hong Kong, the locals in Guangzhou have been very welcoming and keen to learn about our work at Guildhawk and Evernoon, as well as gain a better understanding of the UK.

Many of these exhibitors have recognized the value of using localized content to connect with their target audience and drive engagement at their booths. By tailoring their messaging and marketing materials to the local culture and language, they are able to better resonate with potential customers and leave a lasting impression.

The importance of achieving success in international markets remains a key factor in revitalizing the UK economy. This truth was just as relevant in May 2011 as it is today, which was when UK Trade & Investment (UKTI) unveiled its five-year strategy, “Britain Open for Business”.

Canton Fair 2023

The Canton Fair, also referred to as the China Import and Export Fair, takes place twice a year in Guangzhou, China. The Ministry of Commerce of PRC and the Peoples Government of Guangdong Province co-host the event, which is organized by China Foreign Trade Centre.

The Canton Fair is a premier event in international trade, renowned for its rich history and grandeur. Showcasing a diverse range of products, it draws buyers from all corners of the globe and has facilitated substantial business transactions in China.

This biannual event is a mammoth affair that covers almost everything related to import and export with China.

Since 1957, the fair has taken place twice a year in Guangzhou, attracting over 25,000 exhibitors from around the world.

World’s Most Competitive Economy

Hong Kong, one of the most competitive economies in the world, has been recognized by the International Institute for Management Development (IMD) World Competitive Yearbook 2022, ranking 5th out of 63 economies. This ranking highlights Hong Kong’s consistent efforts in creating a favourable business environment.

IMD evaluated the economy based on four competitive factors: economic performance, government efficiency, business efficiency, and infrastructure. Hong Kong maintained favourable rankings in “Government efficiency” and “Business efficiency”, while also improving in “Economic performance” and “Infrastructure”. The sub-factors also showed Hong Kong’s strength, topping the ranking in “Business legislation” and ranking amongst the top-three in “Public finance”, “Tax policy”, and “International investment”.

Hong Kong’s strategic location in Asia offers businesses easy access to the vast array of opportunities available in the Guangdong-Hong Kong-Macao Bay Area and beyond. Guildhawk has taken advantage of this strategic location by setting up Evernoon, our new technology partner.

If you are interested in setting up a business in Hong Kong then find out more at InvestHK.