Hong Kong trade chief eyes Central Asia expansion after Kazakhstan office launch
Hong Kong Trade Development Council Chairman Paul Ma said the agency may upgrade its new advisory office in Kazakhstan or open offices in other Central Asian countries like Uzbekistan, citing strong potential. He also raised Hong Kong's export growth forecast to 42-47 per cent for this year.
The chairman of the Hong Kong Trade Development Council (HKTDC), Paul Ma, said the agency has set up an advisory office in Almaty, Kazakhstan's largest city, and will first increase staffing there to handle growing business inquiries. The next step, he said, would be to study whether to upgrade the office or establish offices in other Central Asian countries such as Uzbekistan, where he sees significant potential. Ma added that the HKTDC would continue to work closely with other government departments to promote Hong Kong in the region.
Speaking after an event, Ma noted that following a visit to Central Asia in June, Kazakhstan's national railway company announced plans to list in Hong Kong. He also said that, besides Central Asia, eight companies from countries along the Belt and Road Initiative have submitted listing applications to the Hong Kong Stock Exchange. Ma pointed out that about 100 companies from Belt and Road countries are already listed in Hong Kong, with a combined market capitalisation of about HK$340 billion. He expressed hope that more emerging markets would use Hong Kong as a financial centre to expand their businesses.
The HKTDC has raised its forecast for Hong Kong's export growth this year to between 42 and 47 per cent. Ma attributed the strong export performance in the first eight months of the year to a significant improvement in Sino-US relations after President Xi Jinping's visit to the United States, as well as sustained strong demand for artificial intelligence and semiconductor products, which he believes will continue to support Hong Kong's export performance.