British businesses will host a ‘GREAT Festival of Innovation’ in Hong Kong to showcase the power of UK innovation and technology to the world.
The festival in March 2018 will show how new technology could change the way we work, learn and play in the future.
It will also provide a fantastic opportunity for the very best British and Asian innovators to create new trade links and strengthen existing relationships with hundreds of international business leaders and investors.
Carrie Lam, Chief Executive of Hong Kong, is visiting London to mark 20 years since the former British territory was handed over to the People’s Republic of China.
Last night she joined the Chancellor of the Exchequer, Philip Hammond, at a gala dinner attended by 600 UK and Hong Kong business people where a new FinTech Bridge agreement was unveiled.
This will allow UK firms and investors to expand in Hong Kong and pave the way for more investment from the region into UK markets.
The FinTech industry is currently adding £7 billion to the UK economy every year and employing 60,000 people.
Hong Kong Chief Executive, Carrie Lam, said: “I am glad to note that our multi-faceted exchange with the UK will be given further impetus, with the UK government set to host the GREAT Festival of Innovation in Hong Kong next March, showcasing the UK power of innovation and technology. I am sure that the Campaign will bring us even closer in all respects.”
Total bilateral trade between the UK and Hong Kong reached £17.3 billion last year, an increase of 4% on 2015.
The majority of this came in the form of British exports, with electrical machinery, financial services and mechanical appliances among the goods and services in highest demand.