HK Economy - Highlight
21 April 2017
Hong Kong possesses good fundamentals to serve the global e-commerce market. While there is still plenty of room for growth in the e-commerce area in developed markets, Hong Kong businesses should also observe the opportunities brought about by China’s Belt and Road Initiative and “Internet Plus” action plan, whereby Hong Kong businesses can sell to Belt and Road countries or provide related services such as logistics, payments and digital marketing.
Chinese consumers’ insatiable appetite for foreign goods and the government’s supportive measures bode well for cross-border e-commerce. There is much room for growth for Hong Kong’s e-commerce sector as there are a number of advantages to importing foreign goods to China via Hong Kong, with regard to tax, regulatory, trust, relationship and logistics issues.
By arranging cargo transport, the freight forwarding industry has helped contribute to Hong Kong's success as one of the world’s most trade-oriented economies, with the city ranking globally as the 8th largest merchandise trading entity in 2015.