Building the trade connector

With tariffs and shifting supply chains reshaping the paradigms of global trade, Hong Kong SAR of China holds a unique position as the strategic gateway between the Chinese mainland – the world’s second largest economy – and the rest of the world.

A recent ACCA report, The Outlook for Global Trade, reveals that 28% of respondent organisations expect to increase their level of global trade ‘significantly’ over the next three to five years. As companies restructure their supply chains and business plans, there could be positive opportunities for Hong Kong SAR.

‘As companies think about their future and look for new ways to trade, as an international finance centre, part of the Greater Bay Area (GBA) and through the “Go Global” initiative, Hong Kong SAR could provide options for developing trade alternatives,’ says ACCA chief executive Helen Brand.

In spite of tariff-related concerns at the beginning of 2025, Hong Kong SAR’s exports remained resilient; in the the third quarter of 2025 they registered 12% year-on-year growth. Cecilia Lam, deputy government economist at the Financial Secretary’s Office of the Hong Kong SAR Government, attributes this in part to robust export activities, an easing of trade tensions and a series of tariff postponements.

Equally important, Lam adds, has been the resilience of supply chains across the Chinese mainland, Asia and ASEAN countries. ‘These have been positive factors throughout 2025,’ she says.

Changing risk factors

A combination of economic, logistical and geopolitical headwinds have changed the risk factors associated with global trade – even before the recent wave of tariffs. ‘This is a growing trend,’ says Paul McComb, executive director at The British Chamber of Commerce in Hong Kong, who observes that, as moving goods and services from point A to point B becomes more complicated, complex risk factors raise the potential to create new business opportunities.

‘Businesses need good advice,’ McComb says, adding that Hong Kong SAR is ideally positioned to provide a wide range of support to companies navigating a multifaceted global trade landscape.

For Chinese mainland companies looking to go global and for companies looking to access the Chinese mainland, Hong Kong SAR serves as a business window to the world, says Anna Wang ACCA, CFO of Lee Kum Kee Sauce Group, which manufactures Chinese and Asian sauces. ‘Hong Kong SAR holds a unique position,’ she says.

Ideal platform

Although Hong Kong SAR has limited space and manufacturing capabilities, it more than compensates with its talent and professional services. Wang notes that, for many Chinese mainland companies looking to expand internationally or establish regional headquarters, Hong Kong SAR provides the ideal platform.

‘Hong Kong SAR has the capabilities, language skills, networks and the culture to provide a gateway between the Chinese mainland and the rest of the world,’ she says.

In order to prepare professional accountants for broader strategic roles beyond traditional compliance – by integrating AI, sustainability, ethics and practical skills – ACCA is redesigning its qualification, which will launch next year. This, says Brand, will directly address Hong Kong SAR’s future needs and those of the GBA. ‘As everything else is changing, traditional professions also need to dramatically change,’ she says.

With 40% of export trade from the UK to the Chinese mainland passing through Hong Kong SAR and 80% of investment into the UK from the Chinese mainland coming from or through Hong Kong SAR, the trade and business trajectory is unequivocally pointing upwards.

‘Economic strengths in the city during recent months have been palpable,’ says Chris Woodward, director general of trade and investment at The British Consulate-General in Hong Kong.

‘One-stop shop’

According to Stephen Kitts, chair of Asia and corporate M&A partner at Eversheds Sutherland, low taxes, financial and professional services and strong international connectivity enable Hong Kong SAR to operate like the conductor of an orchestra – bringing the many parts of trade and finance together.

‘These involve complicated finance, legal and tax advice strategies that need to be done well,’ Kitts says, noting that it is not about the diversification of businesses per se; it’s the role Hong Kong SAR plays to make the diversification happen. ‘Hong Kong SAR is a one-stop shop,’ he adds.

Core capabilities

Meanwhile, the GBA also offers a vital platform for the market. Jonathan Cher, managing director of international corporates, coverage, at Standard Chartered Hong Kong, points out that businesses from outside the region are frequently confused about the specific capabilities of each GBA location. He highlights the advantage of making a clear distinction between the core capabilities of each, rather than viewing the GBA solely as a single economic zone and trading bloc.

At the same time, while Cher acknowledges that the Chinese mainland is the key to Hong Kong SAR’s success, he believes that it is important to emphasise the market’s own distinctive advantages. ‘When Hong Kong SAR distinguishes itself, we should use this as evidence of the multiple ways Hong Kong SAR can bring additional value to the table,’ he says.

Highlighting the benefits of leveraging the different strengths of the nine Chinese mainland GBA cities, Wilson Cheng FCCA, chairman of ACCA Hong Kong and tax leader at EY Hong Kong and Macau, believes it is worth noting how Hong Kong SAR is able to utilise the GBA’s larger pool of resources, including access to talent.

‘We have accounting professionals in Shenzhen and Guangzhou using technology to serve the needs of Hong Kong SAR clients,’ he says. More broadly, as Hong Kong SAR embarks on ways to develop new industry sectors, it could benefit from greater collaboration. ‘It is not a case of dividing the pie; it is a case of enlarging the pie.’