HK Economy- Highlight
8 Nov 2019
Greater Bay Area companies have been actively ‘going out’ and do business in the international arena. Apart from mainland laws, the firms must also comply with the local laws of their business partners and international business practices. Hong Kong has a legal system in line with international practices and good corporate governance that help boost the confidence of investors and stakeholders.
GBA companies are stepping up their efforts to develop overseas markets. They are gradually moving towards more complex, hi-tech and high value-added areas in their business. The Law Society of Hong Kong highlights that Hong Kong is the only city in China practising common law. Hence, it can help mainland businesses deal with foreign counterparts in common-law countries and territories and adapt to international business practices.
Despite favourable policy incentives and immensely growing start-up ecosystem, many of the Indian start-ups still struggle. This is especially true in the areas of raising capital, taxation, making international connections and intellectual property rights. The first part of this article gives an overview of India’s tech start-up ecosystem while the following looks at the challenges start-ups encounter during their journey and the roles of Hong Kong in this context.