Rising demand for German consumer and luxury goods
Online shopping is becoming more popular among Chinese middle class consumers
Consumer confidence is relatively stable
11 August 2016 – Asia is currently witnessing a boom in e-commerce. Affluent Chinese middle class consumers in particular are taking advantage of the benefits that online shopping has to offer. This has also led to increased demand for overseas products. Consumer goods, luxury brands and sustainable Western products are in high demand among Asian consumers. German companies were among the first to identify this trend and seize the sales opportunities that this heavily populated and emerging region offers. According to the National Bureau of Statistics of China, retail sales of consumer goods have seen double-digit growth in recent years, outpacing overall economic growth. This is the result of targeted measures implemented by the Central People’s Government in Beijing designed to stimulate consumption. Trade policy liberalisation and tax cuts have also progressively improved import opportunities for foreign consumer goods.
Using Hong Kong as a stepping stone to Asian markets
Innovative, high-quality and green products are popular among Asian consumers. New and established German companies are cooperating with local service providers in order to facilitate their entry into new markets and promote sales of their products. "Thanks to its cosmopolitan nature, Hong Kong is an important base for Western companies expanding to Asia. When foreign companies sell their goods and services to Asia, they stand a better chance of success when they work together with partners who have both local knowledge and international expertise," said Raymond Yip, Deputy Executive Director of the Hong Kong Trade Development Council (HKTDC), a statutory body that promotes Hong Kong’s trade and spotlights the city’s advantages for foreign companies looking to expand into the Asian market. Hong Kong’s close proximity to the Pearl River Delta region makes it an excellent platform for German companies that can also take advantage of its low tax burden and a high degree of legal certainty under the ‘one country, two systems’ formula. "Companies in Hong Kong benefit from free flows of information and capital, a large pool of local and international talent and a level playing field for foreign and domestic companies," explained Mr Yip.
Firms from the import/export, wholesale/retail, finance and services industries in particular are using Hong Kong as a platform to expand their business in Asia. According to Invest Hong Kong, the potential for regional expansion is a major consideration for around 79 per cent of companies based in Hong Kong - including a number of German companies and start-ups.
Series of events to inform German companies about sales and business success in China
A business symposium, part of the HKTDC’s mega promotion called "Think Asia, Think Hong Kong", will be held in Düsseldorf on 28 September 2016 to provide detailed information on sales and marketing in China and an insights into business opportunities in Asia. Representatives from companies such as BASF, Jebsen Group and Crown Worldwide Group will share their knowledge about the challenges and opportunities of doing business in the Chinese mainland and the rest of the Asian market. This is the first time that the HKTDC is staging “Think Asia, Think Hong Kong” in Germany, comprising a series of events on 28 and 29 September in Frankfurt, Düsseldorf, Hamburg and Munich designed to give German entrepreneurs the opportunity to learn about what Hong Kong has to offer for foreign companies. A business delegation comprising investors from Hong Kong and the Chinese mainland will attend the event in Dusseldorf on 28 September where one-on-one business matching meetings will be arranged.
For more information and to register for free for the "Selling to China and throughout Asia" event on 28 September 2016 in the Museum Kunstpalast in Düsseldorf, please visit : http://www.thinkasiathinkhk.com/2016.
Media contact in Germany:
Hong Kong Trade Development Council (HKTDC)
60439 Frankfurt, Germany
Tel: 069 - 9 57 72 - 161
Fax: 069 - 9 57 72 - 200
Media Enquiries in Hong Kong:
Please contact the HKTDC's Communication and Public Affairs Department:
Tel: (852) 2584 4517