Hong Kong ranks in the top 30 markets worldwide for number of active companies with approximately 1,500,000 businesses.
The economy of the Asian giant is dynamic and deeply linked to the international trade. We can assume this by considering the large number of consulates in the territory, over 100, more than any other country in the world.
We can say that the Wholesale Trade Sector represents a huge slice of the market with about 47.95% of companies.
In second place for number of active companies in the market we find the Company and Business Management Sector with 15.04% and in third place the Professional, Scientific and Technical Services Sector with 12.36%.
The Wholesale Trade Sector (NAICS 42) includes establishments engaged in the wholesale of goods, generally without processing, and the provision of services ancillary to the sale of goods. The goods described in this sector include agricultural production, mining, manufacturing, and some information industries, such as publishing. The wholesale process is an intermediate stage in the distribution of goods. Wholesalers are organized to sell or arrange the purchase or sale of goods for resale (i.e. goods sold to other wholesalers or retailers), capital goods or non-consumer durables and raw, intermediate and supplies used in production.
The Management of Businesses and Enterprises Sector (NAICS 55) includes establishments that hold the securities of companies and enterprises for the purpose of holding a controlling interest or influencing management decisions or establishments (except government establishments) that administer, supervise and manage the company or enterprise and normally play the role of strategic or organizational planning and decision-making. The establishments which administer, supervise, and manage may hold the securities of the company or firm.
The Professional, Scientific and Technical Services Sector (NAICS 54) includes institutions specialized in carrying out professional, scientific, and technical activities on behalf of third parties. These activities require a high degree of expertise and training. The institutes in this sector specialize in different skills and provide these services to clients in different industries and, in some cases, to households.
Considering the above, Hong Kong’s great propensity to the international market and the country’s excellent economic stability make it an attractive location for investment and business activities. Even if the market is very unevenly divided, even the least developed sectors boast highly innovative companies with a propensity to grow outside their continent.