Hong Kong Week: Yorkshire firms see clear routes to China

FIRMS in Yorkshire still see Hong Kong as an essential gateway into China’s business opportunities.

A mock trial at the Old Court Room in Leeds Town Hall saw members of the region’s business community debate over the need to use Hong Kong as a stepping stone into China.

Hosted by the Northern Chapter of the Hong Kong Business Forum, the event was overseen by ‘judge’ and ‘Secret Millionaire’ and Directorbank founder Jonathan Hick.

Pictured: Giles Blackburne, China Britain Business Council; Josh Wong, DLA Piper and Chair of the Forum; Nick Farr, Grant Thornton; Alex Gray, HSBC and ‘judge’ Jonathan Hick.

Set up in Leeds in June, the Forum is part of an international trade body connecting members to 10,000 contacts worldwide and providing market intelligence and networking opportunity for its members. 

Nick Farr, head of Grant Thornton’s China Group and HSBC’s Alex Gray argued the case for continuing to invest in Hong Kong as a means to doing business in China. DLA Piper partner Josh Wong and Giles Blackburne, director of the China Britain Business Council, presented the merits of going directly to mainland China.

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Jonathan Hick’s latest venture, Brand Cellar, which buys the rights to UK product brands with a strong heritage and licences them to firms overseas, is already established in Hong Kong with his business partner David Birchall now based there.

The ‘barristers’ discussed a range of issues including tax, intellectual property, business culture and setting up a business in each location.  Witnesses, including Douwe Terpstra, Managing Director of the Intertrust Group also came into the witness box to testify on their experiences in Hong Kong and China.

Attendees at the event were the ‘jury’ and following arguments from both sides they voted convincingly that Hong Kong still plays an essential role for UK businesses wanting to become involved in the Chinese market.

Josh Wong who is chair of Forum said: “It was great to see so many business leaders with an interest in expanding into Hong Kong and China attending the event. The courtroom drama added a real zest to proceedings and was an effective way to get across the advantages of Hong Kong as well as explore when it might be sensible to invest direct into Mainland China.

“Hong Kong is one of easiest places to do business in the world, has great legal structure and world class financial institutions.  It is not surprising that regional businesses see it as a natural hub for investing in China and the rest of Asia.”

The Forum is planning more events to provide businesses interested in Hong Kong with opportunities to network and learn more about investing in Greater China.

To become a member, please contact Karen Johnson at karen.johnson@hktdc.org

Firms interested in doing business in Hong Kong and the wider Chinese market can attend Think Asia Think Hong Kong events being held in London on September 13 and Leeds on September 14. Mr Wong will be speaking at the Leeds event, which is taking place at the Hilton Hotel.

For more information go to: www.thinkasiathinkhk.com

TheBusinessDesk.com’s Hong Kong Week is in association with international law firm DLA Piper.