For mainland Chinese entrepreneur Wang Chaoyou, becoming a member of a Hong Kong delegation to the Middle East has fast-tracked his entry into the rising market of Kuwait after an earlier try to realize a foothold fizzled out.
“We were in discussions on a deal but couldn’t reach a consensus on the shareholding ratio – they asked for half, which I couldn’t accept,” stated the chairman of Shanghai-based Dongchao Technology.
“But this time we came with Hong Kong’s chief executive and the Trade Development Council, who helped a lot with the negotiations and they ended up accepting a 30 per cent share … it just went so smoothly all of a sudden.”
Wang was amongst 20 mainland entrepreneurs becoming a member of a Hong Kong delegation led by metropolis chief John Lee Ka-chiu to Qatar and Kuwait earlier this week, the primary time companies from throughout the border had joined such an official trip.
The metropolis chief final visited the Middle East in 2023, spending eight days within the United Arab Emirates and Saudi Arabia with metropolis enterprise leaders.
Delegates and analysts stated the line-up of the most recent visit helped Hong Kong to open up new markets within the area amid escalating geopolitical tensions whereas additionally underscoring its position because the nation’s gateway by serving to mainland firms go international.