Food and agribusinessHong Kong imports 90% of its produce and protein

food including processed meat, horticulture produce, premium seafood, and organic food, making it an ideal market for promoting Queensland fresh food

and value-added products. Hong Kong is also a target market for agri-investment in Queensland food

and hospitality industry. There is a trend towards organic food and healthy snacks to supplement the

increasing awareness of health and wellbeing.

InfrastructureThe A$4 billion West Kowloon Cultural

District project with seven out of 17 culturalvenues under planning and construction, isscheduled for completion by 2020. To meet

growing demand for healthcare services,A$9.8 billion has been allocated for hospital

and medical facilities. Infrastructuredevelopments include the Hong Kong-

Zhuhai-Macau Bridge, and the Guangzhou-Shenzhen-Hong Kong Express Rail Link.

Technology and innovationThe Hong Kong Government has committed

HK$2 billion (A$360 million) to boosting innovation and technology programs,

university-industry collaboration and the commercialisation, applications,

and industrial engineering in differenttechnological areas such as biotechnology

and traditional Chinese medicine. There are opportunities for joint R&D collaboration

and commercialisation of inventions.

NOW• Healthy, functional, fresh and• organic food items.• Premium organic meat and seafood• Student recruitment into higher education• Consumer products in health and wellbeing

such as essential oils, natural skincare products• Infant care: baby food, skincare products• Investment into agriculture and infrastructure

into Queensland.

MID TERM• Packaged premium food and

health drinks• Green building products and

technology• Students recruitment into

schools and higher education• Investments in aged care

facilities in Queensland.

LONG TERM• Advanced health and

aged care products and services

• Research and commercialisation in innovative technologies

Current trends

Future opportunities

Hong Kong market overviewHong Kong is a vibrant city of 7 million people and is known as an international business, trade, tourist and financial centre. The economy is characterised by limited import restrictions, free trade, a low and simple taxation system and a robust legal system, similar to Australia’s.Hong Kong is heavily reliant on imports with over 90% of food and beverages sourced from other countries.1 Major food import opportunities include: seafood, meat and meat products, fresh/chilled beef, lamb and offal, fresh fruit and vegetables, dairy products and beverages. Hong Kong is also a significant entry point for re-exporting to mainland China.The Hong Kong Government is also investing HK$55 billion (A$9.8 billion) to build two new hospitals and redevelop four existing ones, providing opportunities for firms in the healthcare design and services sector.2 From a financial perspective, Hong Kong is a world leader in equity funding and according to the China’s Ministry of Commerce over 50% of China’s outward investment of US$550 billion in 2014 was directed to and through Hong Kong, making it an ideal location to attract funds for investment projects in Queensland.3

90%of produce and

protein food imported4

$9.8ballocated to

hospitals and medical facilities5

A$360m Innovation and

Technology Fund6

TIQ

-16-

1110

Trade & Investment Commissioner for Hong Kong

Ms Nichols has held a range of Australia and Asia-based private and public positions. Over the past decade, her career has focussed on international trade promotion and facilitation, working for State and Federal-level Australian government agencies in Australia, Greater China and South East Asia.

Julie-Anne holds undergraduate qualifications in International Business and Chinese language from Griffith University and an MBA from the Queensland University of Technology.

Julie-Anne Nichols

julie-anne.nichols@tiq.qld.gov.au

+852 2827 1839

1. www.austrade.gov.au2. Hong Kong Budget Summary 2014/15. www.hlc.com.hk 3. China Ministry of Commerce English.mofcom.gov.cn 4. www.austrade.gov.au5. 2015-16 Budget www.budget.gov.hk6. Hong Kong Trade Development Council, www.hong-kong-economy-research.hktdc.com

Trade & Investment Queensland, Hong Kong

Room 503, 5/F Sun Hung Kai Centre 30 Harbour Road Wanchai, Hong Kong

Trade & Investment Queensland, Brisbane Office

Level 10, 1 William Street, Brisbane Queensland 4000 PO Box 12400 George Street, Brisbane Queensland 4003

TradeandInvestmentQld

@tradeinvestqld

tiq.qld.gov.au

Trade & Investment Queensland

tiq.info@tiq.qld.gov.au

+61 7 3514 3147

Key Activities1

2

3

4

Asia Fruit Logistica – September, 2016

Investment Conference Asia Pacific Conference (HICAP) – October 2016

Queensland Mango Promotion – December 2016

HOFEX – May 2017