Mainland Chinese fintech companies are establishing bases in Hong Kong to access ASEAN markets, with support from the government’s Office for Attracting Strategic Enterprises aiding in local recruitment and collaboration with universities.
Mainland Chinese fintech enterprises are increasingly establishing their presence in Hong Kong to gain access to the ASEAN markets. The Office for Attracting Strategic Enterprises (OASES) has been instrumental in facilitating this process, offering vital support for recruitment and visa arrangements for employees relocating from the mainland. KN Group’s Senior Vice-President, Jiang Xuan, highlighted the benefits received from the Hong Kong government, including collaboration opportunities with local universities for data research projects.
The trend of mainland Chinese fintech companies setting up operations in Hong Kong is largely motivated by the city’s strategic geographical positioning and investment-friendly environment within the ASEAN region. The Hong Kong government actively promotes these transitions through initiatives like OASES, focusing on enhancing strategic sectors. This initiative is part of a broader economic strategy aimed at fostering innovation and strengthening Hong Kong’s role as a regional financial hub.
In conclusion, the migration of mainland Chinese fintech firms to Hong Kong reflects a strategic effort to leverage the city’s economic advantages and access the lucrative ASEAN markets. The dedicated support from local authorities, combined with the region’s competitive edge in technology and investment, is expected to facilitate the growth of these companies significantly in the future.
Original Source: www.scmp.com
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