A German business leader has expressed optimism about the economic recovery of Hong Kong Special Administrative Region (HKSAR), highlighting the city's potential beyond the financial sector. Johannes Hack, president of the German Chamber of Commerce in Hong Kong, emphasized the importance of diversifying growth areas.
In an interview with CGTN, Hack outlined the key areas of German business development in Hong Kong, including sourcing from the Chinese mainland and other parts of Asia, logistics, and sectors such as finance and services. He described these industries as the backbone of German enterprises in the city, leveraging Hong Kong's strategic position as a global trading hub.
Hack praised Hong Kong's unique status under the \"One Country, Two Systems\" principle, which offers a clear legal framework, widespread English proficiency, and favorable taxation. These factors provide significant advantages for German companies, particularly in logistics, sourcing, and service industries.
The business leader also highlighted Hong Kong's focus on strengthening supply chains with an emphasis on sustainability and adherence to European and German standards. He mentioned collaborative efforts with Hong Kong universities and the Science Park in advancing research and manufacturing.
Despite challenges from the COVID-19 pandemic, the HKSAR government has introduced measures since February to boost economic recovery. These initiatives aim to drive sector-specific growth and support small and medium enterprises through financial assistance for e-commerce projects, tax savings, and diversified capital sources.
Having resided in Hong Kong for six years, Hack expressed his appreciation for the city's vibrancy, quality of life, friendly residents, diverse culinary scene, outdoor activities, efficient public transportation, and rich culture.
Reference(s):
German business chief optimistic about economic recovery in Hong Kong
cgtn.com
