The “One Country, Two Systems” Approach an Ideal Gateway for Singapore
Hong Kong’s Chief Executive is inviting Singaporean businesses to come and explore the opportunities in Hong Kong and boost the HK-Singapore business ties.
Hong Kong practices a “one country, two systems” approach thanks to its unparalleled strengths. This makes it the ideal gateway for all Singaporean businesses to have been keen to pursue opportunities here. Not only will Singapore be able to tap into the potential that lies within Hong Kong, but they will also be able to explore opportunities in Mainland China, Guangdong-Hong Kong-Macao Greater Bay Area.
Hong Kong is an ideal place to conduct any business because of the stability that has come about with the National Security Law being implemented. The electoral system has also seen a lot of improvements. The rights and freedom of the people and the businesses that have been established here are safeguarded, and that is why HK-Singapore business ties are among the areas of focus.
Joining the Regional Comprehensive Economic Partnership
Boosting HK-Singapore business ties is also going to be bolstered by the fact that Hong Kong is eager to be a part of the Regional Comprehensive Economic Partnership. The aim is twofold, with the first goal to promote free trade. The second goal is to strengthen regional economic integration. Hong Kong is looking to be a part of this partnership at the first opportunity.
The National 14th Five-Year Plan also reaffirms that Hong Kong is going to unwaveringly support several key areas of development. This includes active participation in the Belt & Road Initiative and development in the bay area.
A Resilient Economy
Despite the uncertainty of the Covid-19 pandemic, Hong Kong has proven that its financial system is strong. When combined with its unparalleled connectivity to Mainland China’s financial markets, HK-Singapore business ties are a promising prospect for any entrepreneur. Even those in green finance will find plenty of opportunities to explore within Hong Kong’s financial sector.
For Singapore businesses that want to start a Hong Kong company, this is the sign you’ve been waiting for that it is the right move to make. For more information about 3E Accounting’s company incorporation services, contact our team today.