John Lee encourages start-ups to use Hong Kong as a business gateway

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Hong Kong Chief Executive John Lee Ka-chiu addressed the first Global Unicorn Summit, where he encouraged global enterprises and startups to utilize Hong Kong as a business gateway. Lee positioned the city as a 'superconnector' that links mainland China with the international market by leveraging its common-law system, low-tax environment, and capital markets. He noted that the city hosted over 11,000 companies and 5,200 startups as of last year, with 20 unicorns incubated over the previous decade.

Consequences

The city aims to utilize the Greater Bay Area’s manufacturing base alongside its own research and talent to facilitate technological innovation and growth. This strategy is intended to position Hong Kong as both an entry point for overseas firms into mainland China and a base for domestic unicorn firms to expand into global supply chains.

Sources

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