Why Hong Kong? The HK 'Start-me-up' Initiative, Simon Galpin, Director General, Invest Hong Kong -...
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Transcript of Why Hong Kong? The HK 'Start-me-up' Initiative, Simon Galpin, Director General, Invest Hong Kong -...
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Where Business Goes to Grow
Simon Galpin Director-General of Investment Promotion
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Heart of Asia
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Proximity to China
4hours Most of Asia’s key markets within four hours’ flight time
5hours From half the world’s population
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Greater Pearl River Delta 4
Population 64 mn > UK, Italy, South
Africa
Exports US$527 bn > UK, Italy
GDP US$962 bn > Indonesia,
Netherlands, Turkey
Land Area 56,000 km2
< Ireland, Latvia, Panama, West Virginia (US)
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One Country Two Systems
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16.5
17
25
15
20
45
5
16
37
5
20
11
0
7
17
Hong Kong
Singapore
Shanghai*
Corporate Income Personal Income Employer Social Security Employee Social Security VAT
• VAT/GST/Sales tax • Capital Gains Tax • Withholding tax on investments • Estate duty • Global taxation • Wine duty
Low and Simple Tax System 6
NO * There is no standard rate across the Mainland China. Shanghai is used as an example
Percentage
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World Class ICT Infrastructure 7
7th in the Global Innovation Index Report (INSEAD 2013)
2nd in Asia Networked Readiness Index (The Global Information Technology Report 2014, World Economic Forum)
2nd in Asia ICT Development Index (ITU Oct 2013)
The safest place in Asia for setting up data centres (Data Centre Risk Index, Cushman & Wakefield, 2013)
Mobile phone penetration rate >237% (OFCA, Sep 2013)
The world’s fastest speed for Internet access (Akamai Technologies, 2014)
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Human Capital - Quality Education 8
x 2
x 49
Two universities in the world’s top 100
(Times Higher Education World University Rankings 2013/14)
HKUST MBA – 1st in Asia and 8th in the world
(Financial Times Global MBA Ranking 2013)
World’s Top EMBA 2013: Kellogg – HKUST EMBA
Programme (Financial Times 2013)
49 International schools 3rd in the Global Index of Cognitive Skills
and Educational Attainment (Economic Intelligence Unit 2012)
Hong Kong students ranked first in reading literacy
globally (Progress on International Reading
Literacy Study 2011)
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Business-to-Consumer l Gateway to 3.7 million HNWIs in Asia-Pacific
with wealth totalling US$12 tn
l Wealth growth the strongest in Asia-Pacific at 12%
l Hong Kong – HNWIs up 36%
l Asia-Pacific expected to lead robust global HNWI wealth growth. HNWI wealth expected to reach US$16 tn by 2015 Source: Capgemini World Wealth Report 2013
• Asia-Pacific accounted for 50% of the growth in global wealth since 2010
• By 2020, est. no. of millionaires in Mainland China & Hong Kong will reach 3.7 million, an accumulated wealth of US$14 trillion
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Source: James Davies, Rodrigo Lluberas and Anthony Shorrocks, Credit Suisse Global Wealth Databook 2011
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3.8 8.5
12.5 13.6 15.5
18.0 22.5
28.1
34.9
40.7
9.3 7
10.8 11.7 12.7 11.6
13.5
13.8
13.7 13.6
0
10
20
30
40
50
60
2000 2003 2005 2006 2007 2009 2010 2011 2012 2013
Million
Number of visitor arrivals
Mainland China Rest of the World
Source: Hong Kong Tourism Board
+12% 54.3 million visitors
+16% +4% Spending US$44.1 billion US$1,044 per capita
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2,264 new investment projects approved;investment amount US$43.7 bn (as of 2013) (Source: MOFCOM)
RMB deposits in Hong Kong of RMB1,053 bn (~US$173 bn) (as of Dec 2013) (Source: HKMA)
Business-to-Business 11
797 listed Mainland enterprises on the HKEx; total market cap US$1.76 tn (as of Dec 2013) (Source: HKEX)
2000 2013
% of mainland companies
% of mainland capitalisation
49%
57%
18%
27%
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Energy Landscape in Hong Kong 12
Carbon emissions
l Challenging climate: long, hot and humid Summers (typically 30º C and >95% humidity)
l Public indoor spaces air conditioned year-round
l Current carbon intensity is around 5.7t per capita per annum
l Government set a carbon intensity reduction target of 50% - 60% by 2020 as compared with 2005 level
l Buildings account for over 90% of total electricity consumption
l Around 70% of Hong Kong’s CO2 emissions is from power generation, and the rest mostly from vehicular emissions
l Average population density in new towns is >200 per hectare (18/ha in Edinburgh and 33/ha in Glasgow)
l Vertical city: more than half the population lives or works above the 15th floor
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Intense Urbanisation 13
Rank City Buildings Combined height (m) 1 Hong Kong 2354 333,836 2 New York City 794 109,720 3 Tokyo 556 73,008 4 Shanghai 430 59,958 5 Dubai 403 66,248 6 Bangkok 355 48,737 7 Chicago 341 48,441 8 Guangzhou 295 42,865 9 Seoul 282 39,308 10 Kuala Lumpur 244 34,035 11 Singapore 238 33,735 56 London 47 5,689
Ranking of cities with buildings taller than 100m
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7,449 companies of which 3,835 are RHQs and ROs in 2013 (Source: 2013 Annual survey, HKSAR Government’s Census & Statistics Department)
Prime Conduit for FDI
Rank FDI Inflows (2012) US$ bn FDI Outflows (2012) US$ bn 1 USA 168 USA 329 2 China 121 Japan 123 3 Hong Kong 75 China 84 4 Brazil 65 Hong Kong 84 5 British Virgin Islands 65 UK 71 6 UK 62 Germany 67 7 Australia 57 Canada 54 8 Singapore 57 Russia 51 9 Russia 51 Switzerland 44 10 Canada 45 British Virgin Islands 42
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Source: World Investment Report 2013, UNCTAD
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Markus Kramer President, Dispersions and Pigments Division (Global headquarters)
Global Operations in Hong Kong
John Rice Vice Chairman (Global operations)
Jean-Pascal Tricoire Global CEO
Jeff Urwin Global Head of Investment Banking
Johan de Nysschen President (Global headquarters)
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Christophe Roussel Int’l Sourcing Director
Karen Fifer Global Managing Partner, Consumer Markets Practice
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Startmeup.HK 16
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Startup Ecosystem in Hong Kong 17
600-800 in their 30s
80% of startup founders are non-local
<2 Years Establishment
Full-time staff
≤5
• Enterprise solutions & consumer internet, fintech, energy & environment, medical and education, etc
Business Sectors
including incubatees located in
About startups
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Burgeoning Co-work Spaces
startup commune
2010 3
2014
30
Number of co-work spaces in HK
>1,600 spaces
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New Features 19
Early to growth stage ventures with revenue and/or significant users/customers
Category 1 Startups at the concept and
prototype stage with no revenue
9 winners 3 winners
3 Grand Award Winners
Category 2 Special Awards Fin Tech and Smart City
Target sectors ICT; Medical and healthcare; Retail
technology; Supply chain and logistics; Creative industries;
Hardware and electronics; Education
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Benefits Grand Award Winners will receive benefits worth
over US$500,000
Sponsored trip to Hong Kong Free work / retail space Media exposure
• Present to potential angel investors, business partners and startup community stakeholders
• Mentorship from prominent business leaders • Professional services from leading accounting, legal,
design, brand strategy and managed hosting firms in Hong Kong
• Partnership matching
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Key Dates
Closing date for applications
31 Jul (12:00p.m. HK Time)
Interviews with semi-finalists
1stweek of Sep
StartmeupHK Venture Forum
11 Nov
Applications open NOW!
h'p://www.startmeup.hk
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How We Can Help 22
Networking events, introduction to service
providers
PR and marketing support for launch/expansion
Facilitation of visa applications, schooling
Information to aid planning and evaluation
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Get in Touch: www.investhk.gov.hk
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Tel: (852) 3107 1000 [email protected] InvestHK www.linkedin.com/company/ invest-hong-kong www.youtube.com/user/investhk www.flickr.com/photos/investhk For more information, please contact: David Parker Head, Investment Promotion Email: [email protected] Tel: 44-20-7290-8211