Hong Kong Business News

Secretary for Commerce & Economic Development Algernon Yau began his visit to New Zealand today to promote Hong Kong's unparalleled strengths under the "one country, two systems" principle and foster economic and trade collaboration between the two places.

While meeting the Minister of Agriculture, Minister of Forestry, Minister for Trade & Investment and Associate Minister of Foreign Affairs of New Zealand Todd McClay in Wellington, Mr Yau updated Mr McClay about Hong Kong's economic developments as well as its trade and investment promotion initiatives such as the deduction in liquor duty.

On regional co-operation, Mr Yau highlighted Hong Kong's readiness for early accession to the Regional Comprehensive Economic Partnership and called for New Zealand's support for its early accession to it, through which the city is committed to making important contributions to regional economic development and integration.

Mr Yau also met Chair of New Zealand Trade & Enterprise and Invest New Zealand board member Charles Finny to gain a better understanding of the latest developments of its industries and discuss co-operation opportunities.

He pointed out that Hong Kong's unique advantages and favourable business environment present tremendous business opportunities for New Zealand enterprises and investors.

Additionally, the commerce chief paid a courtesy call on Ambassador of the People's Republic of China to New Zealand, the Cook Islands and Niue Wang Xiaolong to keep him abreast of Hong Kong's efforts in deepening international co-operation to cope with the changes in the global economic and trade landscape.

Mr Yau then attended a business dinner co-hosted by the Hong Kong Economic & Trade Office, Sydney and BusinessNZ, at which he said that Hong Kong is the world's fifth-largest merchandise trading entity after the Mainland, the US, the EU and Japan.

Apart from emphasising that according to the World Investment Report 2025, global foreign direct investment inflows to the city reached US$126 billion in 2024, ranking Hong Kong third globally, Mr Yau added that this is a vote of confidence by Hong Kong investors.

As he briefed the dinner participants on the vast potential of the Greater Bay Area, Mr Yau encouraged the business sector there to explore the bay area’s business opportunities and enjoy preferential treatment under the Mainland & Hong Kong Closer Economic Partnership Arrangement, leveraging the city’s distinctive advantage as a gateway to the GBA and Mainland markets.