where business goes to grow - irvine chamber economic ... · global wealth since 2010 • by 2020,...
TRANSCRIPT
Where Business Goes to Grow
Simon Galpin Director-General of Investment Promotion
All Companies Great and Small
2
Heart of Asia
3
Proximity to China
4hours Most of Asia’s
key markets
within four hours’
flight time
5hours
From half
the world’s
population
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)
5
One Country Two Systems
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
World Class ICT – Connecting 7
8th in the Global Innovation Index Report (INSEAD 2012)
2nd in Asia Cloud Readiness Index (Asia Cloud Computing Association, Sept 2011)
6th most advanced ICT Economy (ITU Sept 2011)
The safest place in Asia for setting up data centres (Data Centre Risk Index, Cushman
& Wakefield, 2012)
Mobile phone penetration rate >229%
Human Capital - Quality Education 8
x 2
x 48
Two universities in the world’s top 100
(Times Higher Education World University Rankings 2012/13)
HKUST MBA – 1st in Asia and 10th in the world
(Financial Times Global MBA Ranking 2012)
World’s Top EMBA in 2011: Kellogg – HKUST EMBA
Programme (Financial Times 2012)
48 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)
0
100
200
300
400
500
600
700
800
900
HK Toronto New York London Paris
Robbery
0
200
400
600
800
1000
1200
1400
HK Tokyo New York Toronto Paris London
Burglary
One of the Safest Cities in the World
0
2000
4000
6000
8000
10000
12000
HK Tokyo New York Toronto London Paris
Overall crime
0
1
2
3
4
5
6
7
8
HK Tokyo London Toronto New York Paris
Homicide
Source: Hong Kong Police 2011 Note: Rate per 100 000 population
9
Business-to-Consumer
Gateway to 3.7 million HNWIs in Asia-Pacific
with wealth totalling US$12 tn
Wealth growth the strongest in Asia-Pacific at
12%
Hong Kong – HNWIs up 36%
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
10
Source: James Davies, Rodrigo Lluberas and Anthony Shorrocks, Credit Suisse
Global Wealth Databook 2011
+16% 48.6 million visitors Spending US$39.4 billion US$1,005 per capita
3.8
8.5
12.5 13.6
15.5 18.0
22.5
28.1
34.9
9.3 7
10.8 11.7
12.7 11.6
13.5
13.8
13.7
0
10
20
30
40
50
2000 2003 2005 2006 2007 2009 2010 2011 2012
Million
11
+17% +5%
Number of visitor arrivals
Mainland China Rest of the World
Source: Hong Kong Tourism Board
Total Retail Sales US$57 Billion +10% 12
84% of the world’s leading luxury and fashion retailers are in Hong Kong
of all international retail brands are in Hong Kong
41%
18 in Hong Kong
12 in London
No. of Shops
13 in Hong Kong
5 in Milan
10 in Hong Kong
4 in Milan
1,938 new investment projects
approved; investment amount
US$46.5 bn (MOFCOM, 2012)
RMB deposits in Hong Kong
of RMB698 bn (~US$114 bn)
(as of Jun 2013)
Springboard for Mainland Companies
13
747 listed Mainland enterprises
on the HKEx; total market cap
US$1.54 tn (as of July 2013)
2000 2012
% of mainland companies
% of mainland capitalisation
47%
57%
18%
27%
7,250 companies of which 3,883 are RHQs and ROs in 2012 (Source: 2012 Annual survey, HKSAR Government’s Census & Statistics Department)
Prime Location for FDI
Rank FDI Inflows (2012) US$ 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
14
Source: World Investment Report 2013, UNCTAD
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
Johan de Nysschen President (Global headquarters)
Michael Andrew Global Chairman
Jeff Urwin Global Head of Investment Banking
Wiebo Vaartjes EVP & GM (Global headquarters of Philips Consumer LifeStyle)
15
Christophe Roussel Int’l Sourcing Director
What We Do?
16
5,988
Investment Promotion – Reaching Out to Companies to Attract FDI
17
1,504
Overseas/ Mainland Meetings
Prospects
700 Live Projects
316 Projects Completed 2012
(with 4,166 individual companies)
3,000
Result Since Establishment 18
33,950 projects completed
jobs created
As at 4 Sep 2013…
How InvestHK helps investors 19
Networking events, introduction to service
providers
PR and marketing support for launch/expansion
Facilitation of visa applications, schooling
Information to aid planning and evaluation
www.investhk.gov.hk 20
www.startmeup.hk 21
For more information, please contact Dr Kelly Jones
Tel: 1 212 752 3320
Email: [email protected]
Get in Touch