KUALA LUMPUR, Malaysia, Oct. 30, 2024 /PRNewswire/ -- Invest Hong Kong (InvestHK) and the Guangdong-Hong Kong-Macao Greater Bay Area Development Office (GBA Office) of the Hong Kong Special Administrative Region (HKSAR) will jointly host an exclusive business seminar on 8 November 2024 at the Ritz Carlton Hotel, Kuala Lumpur.
InvestHK is proud to partner with the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCIM) in bringing this seminar to the Malaysian business community, which aims to provide Malaysian business communities with insights into the latest developments and business opportunities within the dynamic Guangdong-Hong Kong-Macao Greater Bay Area (GBA). It will focus on how overseas businesses can capitalise on the distinctive advantages of Hong Kong as a strategic gateway to establish and expand their presence within the GBA.
The Guangdong-Hong Kong-Macao Greater Bay Area: Emerging Economic Powerhouse in Asia
The GBA comprises 11 major cities, including Hong Kong, Macao, Shenzhen, Guangzhou, and seven additional cities in Guangdong Province, mainland China. With a total population of 86 million and a GDP of US$2 trillion, the region boasts significant economic power.
The cities in the GBA are engaged in the pilot implementation of innovative policies in the financial and social management sectors to establish an international market‑oriented business environment. The free flow of talent, goods and capital is actively promoted across the region with the goal of raising the level of economic efficiency, transparency and internationalisation. Moreover, with clusters of cutting-edge R&D centres and advanced manufacturing facilities, the GBA presents an ideal landscape for technology companies to innovate and commercialise their products.
Hong Kong, as the most globally connected city in the GBA, is committed to solidifying its position as an international financial, transportation, and trade hub. Concurrently, it seeks to reinforce its role as a leading global offshore renminbi business centre, an international hub for asset management, and a centre for risk management. Furthermore, Hong Kong endeavours to advance its professional services sector, fortify its innovative high-tech industries, and establish itself as a premier international legal and dispute resolution hub for the entire Asia Pacific region.
Some of the highlights of the events Include:
Speakers and Insights
Attendees will gain valuable insights from distinguished speakers, including:
Ample Networking Opportunities
Following the half-day seminar, guests will have the opportunity to network during an exclusive business luncheon, fostering connections and collaborations between Malaysian business leaders and Hong Kong.
About the GBA Office
The HKSAR Government attaches great importance to the HKSAR's active participation in the development of the GBA as well as better integration into the overall national development. The Constitutional and Mainland Affairs Bureau has set up the GBA Office, which is led by the Commissioner for the Development of the Greater Bay Area.
The functions of the Office include, among others, to assist in formulating, coordinating and overseeing the overall policies, strategies and measures pertinent to HKSAR's participation in taking forward the development of the GBA.
The Office is responsible for four major areas of work as follows:
About Invest Hong Kong
InvestHK is the department of the HKSAR Government responsible for attracting foreign direct investment. It has set up a dedicated GBA team in Hong Kong to attract the world's top enterprises, start-up entrepreneurs, investors, and other stakeholders to set up and scale their business via Hong Kong into the GBA.
For more information, please visit www.gba.investhk.gov.hk.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Hong Kong Government to Host Business Seminar and Networking Luncheon on The Arising Business Opportunities - The Greater Bay Area and Hong Kong
HANGZHOU, China, Oct. 30, 2024 /PRNewswire/ -- The 2024 edition of Hong Kong FinTech Week, a premier financial technology event in Asia, was held on October 28 at the AsiaWorld-Expo in Hong Kong. Themed "Illuminating New Pathways in FinTech," the event attracted over 30,000 attendees from more than 100 economies. It brought together key stakeholders from across the banking, securities, investment, insurance, and technology sectors to discuss the future intersections of finance and technology, as the industry enters a new era.
LianLian Global, a subsidiary of Hong Kong-listed Lianlian DigiTech, participated in the event as a Gold Sponsor and as a representative of the digital technology industry. The company showcased its pioneering solutions and innovative offerings in the global payment sector to an international audience.
At the outset of the conference, Lianlian unveiled its groundbreaking LianLian Global Accounts Service (LGAS). Designed for international trade merchants in Hong Kong, Southeast Asia, and beyond, LGAS provides a unified account for managing multi-currency funds and seamlessly addressing the complexities of global receipts.
LGAS enables merchants to receive sales payments in multiple currencies directly into their local accounts, eliminating the need for numerous international bank accounts. This guarantees rapid, secure, and cost-effective fund transfers, significantly reducing operational expenses and enhancing international competitiveness.
In recent years, global trade has experienced a resurgence, driven by the expansion of key economies such as China. The World Trade Organization's Global Trade Outlook and Statistics report anticipates a 7.4% growth in Asian exports for 2024, outpacing other regions. Hong Kong and Southeast Asia have become favored destinations for traders due to their strategic locations and increasing consumer demand. However, foreign trade merchants, particularly small and medium-sized enterprises (SMEs) with frequent transactions, are confronted with a range of internal and external challenges. These include complexities related to multi-currency settlement, difficulties in opening accounts, delays in payment processing, and exchange rate risks.
Lianlian's LGAS revolutionizes the conventional approach to foreign trade receipts:
LianLian Global also announced its recent membership in the Cyberport Technology Network (CTN). As a part of the Cyberport community, Lianlian will work with the platform to offer exclusive discounts of up to HK$900,000 to CTN members during FinTech Week. These discounts apply to a range of products and services, including Lianlian's recently launched B2B receipt solution, LGAS. This initiative allows Cyberport community members to access Lianlian's payment solutions at reduced rates, providing Hong Kong-based foreign trade companies with seamless, reliable, and cost-effective fund management and global payment experiences, and assisting them in tapping into broader global market opportunities.
As a leading player in cross-border trade, Lianlian has established close partnerships with top global e-commerce platforms and licensed institutions by leveraging its multi-jurisdictional licensing qualifications, robust technology capabilities, and extensive resources. By providing an integrated digital solution encompassing collection, payment processing, merchant services, currency conversion, digital marketing, and operational support, Lianlian has facilitated the access to domestic and international funding channels. This addresses the challenges faced by cross-border e-commerce entities, foreign traders, service providers, platforms, and institutions as they scale internationally, particularly in areas related to financial transactions and account management. In addition, Lianlian has served over 4.9 million clients, establishing a robust foundation for cross-border firms seeking to expand their global footprint. The company's contributions to international trade are a testament to its commitment to advancing prosperity and growth in the global economic landscape.
Cyberport is Hong Kong's digital technology flagship and incubator for entrepreneurship with over 2,100 members including over 900 onsite and close to 1,200 offsite startups and technology companies. Managed by Hong Kong Cyberport Management Company Limited, a wholly owned entity of the Hong Kong SAR Government, Cyberport aims to serve as a pivotal hub for digital technology and a new economic driver for Hong Kong. The facility is committed to nurturing a vibrant tech ecosystem by focusing on talent development, fostering youth entrepreneurship, supporting start-ups, and facilitating industry growth through strategic partnerships with local and international partners. It also integrates new and traditional economies by accelerating digital transformation initiatives in public and private sectors.
Shen Enguang, co-CEO of LianLian Global, noted that Hong Kong, as an international financial center and global super connector, serves as a bridge for companies to access the global market and a crucial platform for facilitating the flow of capital, innovation, and technology. In the process of globalization, Lianlian has consistently viewed Hong Kong as a key gateway for expanding into the Asia-Pacific market and establishing a global business ecosystem. Our strategic alliance with Cyberport to jointly market the LGAS product suite will enable foreign traders to leverage the robust resources and payment capabilities of both entities, expanding their global reach and capitalizing on opportunities with greater assurance. "Looking ahead, Lianlian will continue to prioritize user needs for value innovation and creation, optimizing and enhancing our product matrix. In line with our ecosystem approach to value sharing and co-creation, we will work with leading global partners to develop a new international payment ecosystem, ensuring that cross-border payments and international transactions are safer, more convenient, and barrier-free."
Dr. Rocky Cheng, CEO of Cyberport, said, "Cyberport is pleased to welcome Lianlian to the 'Cyberport Technology Network' (CTN), a testament to our longstanding efforts to nurture a dynamic ecosystem. Lianlian's expertise in payment solutions and extensive experience in digitizing global trade will grant Cyberport community members access to a wide range of financial innovation solutions, enhancing cross-sector collaboration and contributing to the local fintech innovation ecosystem. As Hong Kong's largest fintech and Web3.0 community, Cyberport's CTN connects more than 40 leading technology service companies, offering technical training and dedicated support for Cyberport startups. Looking ahead, Cyberport aims to partner with leading financial institutions to drive transformation and implementation, fostering digital economy growth and reinforcing Hong Kong's standing as an innovation hub.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
LianLian Global Unveils New Payment Platform, Partners with Cyberport at Hong Kong FinTech Week
