“Show me the money.”
It’s not just about money, though. In business, it’s 90% about money and 10% about making the right business decision.
Many of my Australian friends and partners have asked me about how to accelerate their business growth or commercialise their products/services or increase their company valuation 100%-200% within two years. This LinkedIn post provides a different perspective for Australian enterprises who are interested to accelerate their products and services in a fast-track and tapping into a nearby ready and fast growth market overseas.
Australia Market Size: A country of 27,077,833 (2024 Estimate) with its GDP $1.742 trillion (nominal; 2023) $1.724 trillion (PPP; 2023)
GBA Market Size: As of 2024, the GBA has a population of approximately 86.17 million people. The Greater Bay Area (GBA), which includes nine cities in Guangdong province along with the Hong Kong and Macau Special Administrative Regions, is a significant economic powerhouse in China. As of recent estimates, the GDP of the GBA has surpassed USD 2 trillion. Hong Kong is within an “hour living circle” (一小时生活圈) to Shenzhen, the innovative technology hub of China.
How to combine the Australia Market and the GBA Market?
It looks complicated. However, there is a bridge built between the two markets. There is an Australia-Hong Kong Free Trade Agreement (A-HKFTA) and Investment Agreement, which came into effect in January 2020, enhances the economic relationship by providing greater market access and legal certainty for businesses. Thru Hong Kong as the stepping stone, the two markets could be connected seamlessly.
Trade: Hong Kong is one of Australia’s significant trading partners.
Investment: There are substantial investment flows between Australia and Hong Kong. Hong Kong serves as a gateway for Australian businesses looking to enter mainland China and other Asian markets.
The Closer Economic Partnership Arrangement (CEPA) between Hong Kong and Mainland China is a comprehensive free trade agreement designed to enhance economic cooperation and integration. CEPA eliminates tariffs on all goods originating from Hong Kong, provided they meet specific rules of origin. This facilitates a more competitive market for Hong Kong manufacturers and exporters.
The relationship between Hong Kong and Australia is multifaceted and characterized by strong economic ties, educational exchanges, and people-to-people connections.
As a business growth advisor, I will recommend entrepreneurs, family offices, institutions and investors of Australia-Hong Kong to consider further business exploration and friendship strengthening.
If you are interested to learn more about A-HKFTA, Australia-Hong Kong bilateral trade and investment, an “hour living circle” (一小时生活圈) to Shenzhen, please write email to [email protected]
