Trade association between Hong Kong and the United Kingdom
The United Kingdom and Hong Kong have a strong bilateral relationship. Hong Kong is the UK’s second-largest market for goods in the Asia-Pacific region. The trade volumes also demonstrate the value of this partnership with exports amounting to 15.2 billion pounds and imports from Hong Kong reaching an impressive 11.5 billion pounds in the four quarters to the end of Q3 in 2022.
Furthermore, Hong Kong attracted a sizeable portion of the UK’s foreign direct investment in 2021 – 4.4% or GBP 77.6 billion – emphasising the strength of this association even more.
Overview of the Hong Kong market
The Hong Kong market is an attractive destination for businesses looking to expand their global outlook. It is home to the world’s busiest airport for international cargo, enabling swift and efficient movement of goods.
Hong Kong serves as a significant gateway to Asia’s biggest market, China, thanks to its strategic location. It is the ideal entry point for businesses aiming to tap into the vast potential of the Chinese market.
Hong Kong also boasts the fourth-largest stock market in Asia and the seventh-largest in the world.
Overcoming cultural and legal challenges
Expanding into a new market requires a sound understanding of its cultural nuances and adherence to local laws. Hong Kong, with its unique blend of Eastern and Western influences, presents businesses with specific cultural and legal challenges. Cultural sensitivity is crucial when conducting business in Hong Kong.
When it comes to legal compliance, businesses must be aware of which documents need to be translated into the local language. Hong Kong’s legal system operates in both English and Chinese (Cantonese dialect) and certain documents may need to be translated into Chinese for legal purposes. To import food and drink products into Hong Kong, compliance with local labelling regulations is mandatory. Labels can be in English, Chinese, or both languages. While it is generally acceptable to retain the original English label, the expiry date and any important information must be printed in both English and Chinese. Partnering with a translation provider that specialises in legal translation ensures accuracy and compliance with local legal requirements.
Overcoming these challenges is paramount to building successful relationships and ensuring compliance. However, translation is not just about word-for-word conversion; it also involves capturing the essence, tone, and intent of the original content. Quality assurance is crucial to ensure that translations accurately convey the intended meaning while maintaining cultural appropriateness.
Need for a trusted Chinese translation agency
If you want to expand your business in Hong Kong, make sure cultural and language barriers don’t limit your reach. Having a trusted translation partner like Surrey Translation Bureau will ensure your message is in the right language and tone to make a positive impact on your target market.
Contact the STB team to see how their Cantonese to English or English to Cantonese translation service can help you expand your business in Hong Kong.