Prior to 1997, Hong Kong was occupied by the British for 99 years under a free market
system. With minimal government interference fueled by the work ethic of Chinese
refugees who escaped Communist China, Hong Kong’s economy flourished and became a
global financial center.
Hong Kong was returned to China by the British in 1997. Except for the military
and foreign relations, the free market system within Hong Kong remained untouched
by the Chinese. China essential is now one country with two economic systems today.
The Hong Kong Pace - Fast and Faster
To the Chinese entrepreneurs residing in Hong Kong, they truly live the motto: time
is money and money is time. Their pace of life and business moves at blinding speeds.
Every second counts. It is not uncommon for a shopkeeper to literally yank the
money out of your hands. Everything moves fast in Hong Kong from the way people drive,
talk, and walk to their business manners. The pace is even a major workout for those
coming from New York.
High class hotels and restaurants catering to Westerners recognize their need to
slow down in a maddening world. You will find the comforts of home there.
Finding Information On Hong Kong
The Hong Kong Tourism Board is a good place to start to find tourist information
for your specific country.
They also have offices in North American cities of New York, Los Angeles, Chicago
and Toronto. If you live near one of these cities, it is worth visiting their office
prior to taking your Hong Kong Trips.
The Business Attire
Hong Kong is famous for its custom tailored suits - high quality but cheap. For
the most part, Hong Kong is a center of shipping, finance, and trade. The custom
tailored suit is the standard business garb. So dress accordingly.
Friends Only, Please
The biggest obstacle to a Westerner’s business success in Hong Kong is cultivating
relationships. If you are not a friend or a friend of a friend, the Hong Kong Chinese
will not likely do business with you. So how does a small business entrepreneur
in the Western world develop business contacts in Hong Kong?
Here are some potential ways of getting introductions and building relationship:
Third Party Introductions Try finding Chinese co-workers in your home country who
have ties to Hong Kong. The Hong Kong International Trade Offices and Small Business
Associations in your local city are other sources for third party introductions.
You could also find a Chinese Business Consultant who will do the introductions
for a fee.
Fact Finding trip Try attending a trade show in Hong Kong specifically to make contacts.
After the show, make appointments to see your contacts for relationship building.
Build long term relationship You cannot build a business relationship with a Hong
Kong Chinese through one visit. You may have to do multiple visits, buying dinner,
gift giving etc.
Hong Kong Trips are a favorite amongst those who travel on business or for pleasure.
It has been said that Hong Kong has more millionaires per capita than anywhere else
in the world. It has been the number one market for Rolls-Royce Motor Cars. When
you look at the area’s history, it is easy to understand why this area has been the
poster child for capitalism. It is no wonder that many will want to make these Hong