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Hong Kong economy brief

Hong Kong is a service-based economy, with the services sector accounting for more than 90 percent of total GDP.

Key industries include financial services, tourism, trading, logistics and professional services.

New Zealand has a strong trade and economic relationship with Hong Kong.

On 1 January 2011, the New Zealand - Hong Kong Closer Economic Partnership Agreement entered into force, securing duty-free access for New Zealand goods into Hong Kong; liberalising trade in services and improving the business environment.

Hong Kong is New Zealand’s eleventh largest export market and also offers New Zealand companies an entry point and platform into China.

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Opportunities

Opportunities exist for specialised food and beverage products especially for the hotel, restaurant and institution (HRI) sector, value-added food products and wine. The use of ingredients unique to New Zealand can also differentiate New Zealand products from those of other countries.
Health products and health foods are becoming increasingly popular amongst Hong Kong’s ageing and health conscious population. New Zealand companies can differentiate themselves through the use of our native flora and fauna as functional ingredients in new products.
Potential exists for overseas education, particularly for higher education as there are insufficient places for local students.
A number of large scale infrastructure projects are being undertaken as part of the HK2030 development strategies.

Cultural and business tips

New Zealand business people travelling to Hong Kong do not need visas for a stay of up to three months.
Building a good relationship is important in Hong Kong. Business dealings will run more smoothly if trust can be developed and nurtured.
Business cards are a must. Print your name in Chinese on the back of your card.