Official visits and business outreach of HKETO Berlin in second half of 2023

Secretary for Commerce and Economic Development on mission to Hungary and Germany

On 8 and 9 June 2023, the Secretary for Commerce and Economic Development, Mr Algernon Yau, met with Hungarian government officials and the business community on a two-day visit to Budapest, Hungary. He briefed them about the latest initiatives on attracting businesses and investment and highlighted Hong Kong’s unique advantages under “One Country, Two Systems”. Hong Kong and Hungary share close bilateral ties, with Hungary being Hong Kong’s seventh largest trading partner in the European Union. On the other hand, Hong Kong is the gateway for Hungarian enterprises to access the markets of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and to take part in the Belt and Road Initiative. Mr Yau also visited Q Contemporary, an art museum founded by a Hong Kong-born businesswoman, during his visit.

The Secretary for Commerce and Economic Development, Mr Algernon Yau, attended the Guangdong-Hong Kong-Macao Greater Bay Area and Europe Economic and Trade Cooperation Conference in Munich.

On 6 September 2023, Mr Yau attended the Guangdong, Hong Kong and Macao Greater Bay Area – Europe Economic and Trade Cooperation Exchange Conference in Munich, Germany to promote Hong Kong’s huge business prospect under the GBA developments. Mr Yau also updated German government officials and business leaders about Hong Kong’s strengths and latest development.

The Secretary for Innovation, Technology and Industry, Professor Sun Dong, delivered a keynote speech on 12 June 2023 at the AsiaBerlin Summit in Berlin.

Secretary for Innovation, Technology and Industry visited German R&D hubs

The annual economic congress AsiaBerlin Summit (ABS) connects startups from Berlin with partners in Asia and is an excellent platform to learn about the latest tech trends. The Secretary for Innovation, Technology and Industry, Professor Sun Dong met with the Berlin Government and leaders from the innovation and technology (I&T) sector at the ABS this year. During his keynote speech “Hong Kong: The Innovation Powerhouse of Asia” on 12 June 2023, Professor Sun emphasised Hong Kong’s strong commitment to enhancing the I&T ecosystem, which sets a solid foundation for startups to thrive. Professor Sun continued his visit in Hamburg and Munich, where he visited a leading semiconductor company, a biotech cluster as well as the Technische Universität München (TUM), one of Europe’s leading universities in research and innovation to explore collaboration opportunities.

The Financial Secretary, Mr Paul Chan, met with Mrs Christine Lagarde, President of European Central Bank.

Financial Secretary invited German businesses to invest in Hong Kong

The Financial Secretary, Mr Paul Chan, led a delegation to Germany on 24 to 26 September 2023 to promote Hong Kong as a place for innovation and investment and to share the latest developments in Hong Kong. In Berlin, Mr Chan met with different business associations and companies, including representatives of the German Chamber of Commerce and Industry and the German Private Equity and Venture Capital Association. Moving onto Frankfurt, which is the most significant financial centre in continental Europe, Mr Chan met with decision makers from the European Central Bank and Deutsche Bank to exchange views on the developments and cooperation between the financial markets in Hong Kong and Germany and to promote Hong Kong as a hub for wealth and asset management in the region.

F.l.t.r. Mr Stephen Liang (Hong Kong Trade Development Council), Ms Bonnie Ka (HKETO Berlin), Dr Kai Uwe Bindseil (Berlin Partner), Mr Harald Mylord (Germany Trade & Invest) and Dr Wing-hin Chung (InvestHK).

Connecting the healthcare sectors of Hong Kong and Germany

Hong Kong is Asia’s largest and the world’s second largest fundraising centre for biotech companies. With its proximity and close connection to the GBA, Hong Kong can offer many different business opportunities for German companies in the healthcare sector. This was what attracted investors, business owners and medical specialists from Germany and Hong Kong to an exclusive networking lunch in Berlin on 21 September 2023. The participants gained valuable insights about investment opportunities in Hong Kong and how the partnership between Germany and Hong Kong can facilitate growth and innovation in the healthcare business. The networking event was organised by the Hong Kong Trade Development Council in partnership with HKETO Berlin, InvestHK, Germany Trade & Invest and Berlin Partner.

Ms Jenny Szeto, Director of HKETO Berlin, spoke at the luncheon in Budapest on 5 December 2023

Opportunities for Hungarian companies to benefit from Hong Kong’s green transition

Hungary, as an important partner of Hong Kong and China, has numerous opportunities to expand its business potential in Asia. On this account, Ms Jenny Szeto, Director of HKETO Berlin, hosted a business luncheon in Budapest on 5 December 2023 to introduce prospects in some selected business sectors of Hong Kong, such as finance, transportation and energy, in tandem with Hong Kong’s commitment to green transition in these areas. Ms Szeto also highlighted opportunities for Hungarian companies to benefit from the Belt and Road Initiative. Entrepreneurs and business leaders also gained insights into the latest direction and priorities of Hong Kong’s economic development and prospects as announced in the Chief Executive’s 2023 Policy Address in October 2023.