Beginning of dialog window. Escape will cancel and close the window.
End of dialog window.
Hong Kong is buzzing with optimism as a key German business leader foresees a strong economic recovery for the vibrant city. Johannes Hack, president of the German Chamber of Commerce in Hong Kong, shared his positive outlook in an interview with CGTN, highlighting new growth areas beyond finance.
Hack emphasized the importance of sectors like sourcing from the Chinese mainland and other parts of Asia, logistics, and services as the backbone of German business in Hong Kong. These industries leverage the city’s strategic position as a global trading hub, making it an ideal spot for international businesses.
He praised Hong Kong’s unique status under the principle of \"One Country, Two Systems,\" which offers a clear legal framework, high English proficiency, and favorable taxation. These factors are crucial for German companies looking to expand their operations in the region.
Hong Kong’s focus on diversifying and strengthening supply chains, with an emphasis on sustainability and compliance with European and German standards, was also highlighted by Hack. Collaboration with local universities and the Science Park in research and advanced manufacturing is paving the way for innovative growth.
Despite challenges from the COVID-19 pandemic, Hong Kong has been implementing measures to boost its economy, support small and medium enterprises, and drive sector-specific growth. Initiatives like financial support for e-commerce projects and tax savings are helping businesses thrive in the post-pandemic landscape.
Having lived in Hong Kong for six years, Hack expressed his fondness for the city’s vibrant culture, excellent food, outdoor activities, efficient public transport, and friendly residents. He believes these qualities make Hong Kong not just a business hub, but also a great place to live and work.
With such positive sentiments from international business leaders, Hong Kong’s path to economic resurgence looks promising, blending tradition with innovation in a dynamic global market.
