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SOURCE: Janus Corporate Solutions Pte Ltd
Analysis by leading Hong Kong business incorporation portal GuideMeHongKong.com shows that the rebounding Chinese manufacturing sector could eventually help Hong Kong overtake cities such as New York and London as the preferred destination for global business.
Hong Kong (PRWEB) December 07, 2012
Data released by the China Federation of Logistics & Purchasing's monthly purchasing managers' index (PMI) improved to 50.6 on a scale of 100. It was the second consecutive month of growth in the manufacturing sector, signaling that the country is on its way to recovering from its biggest slump since 2008. Separate data released by HSBC also supported the positive growth numbers.
The Chinese manufacturing sector is vital not only to China, but the entire world. A large percentage of global trade involves goods made in China which are sent to consumer-driven countries such as the US. Most of the world’s largest multinational companies, which are typically based in Europe or North America, have strong interests in the Chinese manufacturing sector.
As a former British colony and current Chinese SAR, Hong Kong is in prime position to benefit from a resurgent Chinese economy. The influence of China as a manufacturing hub and as the world’s second largest economy has led to the emergence of many cash-rich Chinese companies. However, most of these companies do not have any international brand recognition with investors. As a result, they turn to Hong Kong.
“Mainland Chinese companies looking to get some international exposure, whether it be through better product visibility or simply to build a network of investors, usually choose to set up a company in Hong Kong because of its status as a global financial and business hub,” said Ms. Jacqueline Low, Chief Operating Officer of Janus Corporate Solutions, a leading Hong Kong company incorporation services firm and the parent company of GuideMeHongKong.
“Western companies are scrambling to penetrate the Chinese market. The easiest way in for many businesses, especially SMEs, is to form a company in Hong Kong,” she continued. “Many are looking to get into Hong Kong and ride the wave of economic growth. Essentially, Hong Kong is getting the best of both worlds.”
“There are also plenty of other benefits of doing business in Hong Kong, and these have been duly recognized by top global institutions. For example, Hong Kong was recently named as ‘the world’s freest economy’ in the annual Economic Freedom of the World report due to its dynamic, enterprise-friendly policies and Hong Kong’s low-tax regime. When you consider the potential of doing business in China, combined with operating in what could be the world’s best business environment, it makes for a very attractive situation for any company to come to Hong Kong,” concluded Ms. Low.
About Janus Corporate Solutions Pte Ltd
Janus Corporate Solutions Pte Ltd is a leading Hong Kong incorporation services firm that provides comprehensive and cost-effective Hong Kong company registration, immigration visa, accounting and tax filing services to businesses and entrepreneurs worldwide. For more information, visit http://www.guidemehongkong.com
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