5 reasons to do an international business internship in Hong Kong

Hundreds and hundreds of the most important companies in the world operate in this administrative region of China, including banks, financial companies, insurance companies, exporters, auditors, textiles, technology companies … With a business practice in Hong Kong you will be in the center of the action, learning from the best in each industry. Do you dare to adventure?

1. Why everyone wants to be in Hong Kong

Before we start talking about Hong Kong, we will take a second from China to tell you that this country is a titan of the rankings. It is the sixth largest in the world, the most populated and one of the ones that has grown the most in recent years. In short, China is the most desirable market for everyone who loves to do international business. But it has a “tiny” problem: the laws and regulations for settling impose so many barriers that many investors prefer not to take the risk. That is why they look fondly on their closest neighbor: Hong Kong.

Unlike China, Hong Kong is governed by one of the freest capitalist systems in the world. This makes it the key to entry to the country of the Great Wall. Everyone is dying to establish their company here. This is the main reason why you should come to this region of Asia to do an internship in international business.

2. First place in Asia

Small but powerful. This is how the Hong Kong financial market could be described, which despite occupying a small fraction of China, ranks third in the ranking of global financial centers, according to Forbes. It is only behind the two “Big Players” of finance: London and New York. But the most curious thing is that it also has an advantage over other Asian tigers, such as Singapore, Shanghai and Tokyo. This fact is appreciated by investors from all over the world who settle there, preferring Hong Kong even over New York, as in the case of Alibaba, for example.

3. Busiest business areas

We already saw that Hong Kong is the first financial market in Asia. Therefore, you can imagine that all the major international banks are located here. We are talking about more than 200 banks, more than 80 foreign representative offices, almost 1,300 banking agencies and hundreds of insurance companies. This “special administrative region of China” as it is called, seems to be the ideal place for an international business practice, right?

But pay attention! You can also find a place throughout the galaxy of companies that serve banks, such as audit firms, law firms, exporting and importing companies. When it comes to doing international business in Hong Kong, other thriving industries are electronics and telecommunications, the textile segment, and the marketing of luxury brands.

4. Freedom to do business

It is important to note that none of the industries mentioned in point 2 would have the weight they have, without the absolute freedom to do business that is breathed in Hong Kong. Financial and bureaucratic barriers are minimal. There, anyone can register a business and open bank accounts in less than two days. Nor do you have to give too many explanations to buy real estate, transfer money, exchange currency or repatriate profits

5. Government encourages projects

In Hong Kong there is not only freedom to do business. Unlike China, there the government also promotes them, for example through technology voucher program funding. The most obvious case is in the IT industry, where spaces for promoting high-tech projects are multiplying. The ultramodern Cyberport campus is a millionaire investment by the Hong Kong state to nurture technology start-ups and digital content. The objective of this initiative is to become the most important information and communication technology hub in the Asia-Pacific region.