NZ tech firms should jump at business opportunities in Hong Kong

Source: MakeLemonade.nz

Auckland – Hong Kong is providing New Zealand with a doorstep of opportunity for Kiwi tech firms, NZTech chief executive Graeme Muller says.

Muller has just returned from a business trip to Hong Kong, building connections with their tech sector and investors to support a growing interest in the Hong Kong / China market from New Zealand tech firms.

“The One Country – Two Systems structure has left Hong Kong with a separate legal system to China which is similar to our own common law system, with good intellectual property protection and a tough anti-corruption force, all adding up to Hong Kong providing a safe entry point into North Asia for Kiwi tech firms,” he says.

“The Hong Kong government has also committed the equivalent of $10 billion in investments into growing and supporting innovation and the tech sector and New Zealand businesses can access some of this funding to help set up and grow from Hong Kong.

“There is growing interest in what we provide as Hong Kong is aware that New Zealand is ranked as the third freest economy, just behind Hong Kong, according to the 2019 Index of Economic Freedom, and is the least corrupt nation according to Transparency International.

“Hong Kong could provide massive opportunities for NZ tech businesses and there is a real interest in our innovations in AI, biotech, govtech, fintech and smart city solutions.”

Muller urged any Kiwi tech companies interested in doing business in Hong Kong or China to contact him at NZTech or to attend an upcoming seminar being put on by the Auckland Chamber of Commerce and Hong Kong Economic and Trade Office where he will share insights from his visit.

The Hong Kong – Connecting New Zealand to the Greater Bay Area event will touch on the opportunity for Kiwi firms of this 70 million-person market on Hong Kong’s doorstep.

NZTech represents more than 800 organisations across the tech ecosystem which employ more than 100,000 Kiwis. Technology is now New Zealand’s fastest growing and third largest export earner.

For further information contact Make Lemonade editor-in-chief Kip Brook on 0275 030188

MIL OSI

MIL-OSI Asia Pacific: Industrial Production Operation in December 2018

Source: National Bureau of Statistics of China

Headline: Industrial Production Operation in December 2018

In December 2018, the total value added of the industrial enterprises above designated size was up by 5.7 percent year-on-year in real terms (the following growth rates of value added are real growth rates, after deducting price factors), an increase of 0.3 percentage point from November; up by 0…

MIL OSI Asia Pacific

MIL-OSI Asia Pacific: National Economic Performance Maintained within an Appropriate Range in 2018 with Main Development Goals Achieved

Source: National Bureau of Statistics of China

Headline: National Economic Performance Maintained within an Appropriate Range in 2018 with Main Development Goals Achieved

National Bureau of Statistics of China
  21 January 2019
  In 2018, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping as the core, all regions and departments implemented the decisions and arrangements made by the CPC Central Committee and the State Council, adh…

MIL OSI Asia Pacific

MIL-OSI Submissions: Two-way trade tops $160 billion for the first time – Stats NZ Information Release: Goods and services trade by country: Year ended September 2018

Two-way trade tops $160 billion for the first time – 4 December 2018

Increased exports and imports helped push New Zealand’s two-way trade of goods and services to $160.7 billion for the year ended September 2018, up $16.7 billion from the year ended September 2017, Stats NZ said today.

Two-way trade, which measures total exports plus imports between New Zealand and the rest of the world, surpassed $160 billion for the first time. “Trade is critical to New Zealand’s economy. The revenue New Zealand earns from selling goods and services overseas helps pay for the goods and services we import from other countries,” international statistics senior manager Peter Dolan said.

The value of New Zealand’s imports and exports has increased in the year ended September 2018, repeating a pattern generally seen in the past decade. Imports and exports reached new highs, with imports up $9.4 billion to $79.1 billion from 2017, and exports up $7.3 billion to $81.6 billion.

image

Travel services drive services exports

Services contributed 30 percent to New Zealand’s total exports in the year ended September 2018 ($24.6 billion), with travel being the largest contributor at 14 percent.

“The large travel components of New Zealand’s services exports reflect a large tourism sector,” Mr Dolan said.  “Spending by visitors from China and Australia contributed more than $4 billion to the New Zealand economy in the year ended September 2018.”

Amongst our top five trading partners, the European Union was the destination with the highest proportion of services (40 percent), closely followed by the United States of America (37 percent) and Australia (35 percent). China and Japan had a lower proportion of exports that were services, at just over 20 percent each.

Between 2008 and 2018, services increased as a proportion of total exports for Australia, the European Union, and the United States of America, while they fell for China and Japan.

image

Proportion of service imports constant

While the value of goods and services imports has increased over time, the proportion of total imports between goods and services has remained relatively constant.

“Imports of services were almost 25 percent of total imports in 2018, the same proportion seen a decade earlier,” Mr Dolan said.

However, the proportion of services that New Zealand imports from our top five trading partners varies by country. In the year ended September 2018, services contributed just under half of the total imports received from Australia. At the other end of the spectrum, services contributed just over 5 percent of the imports New Zealand received from China and Japan.

The share of services increased between 2008 and 2018 for all of New Zealand’s top trading partners, except for Japan which decreased.

image

New Zealand’s top imports from Australia were travel and other business services.

“This likely reflects personal connections, transactions between businesses, and geographical proximity,” Mr Dolan said.

For more information about these statistics:

MIL OSI