Hong Kong’s wealthy population relies heavily on imports, with 95% of food and beverage products imported due to limited agricultural, aquaculture and food processing capacities.
A strong emphasis is placed on food safety and quality, something South Australia is renowned for. Meat such as beef, lamb, pork and poultry are supplied into Hong Kong and buyers are keen to expand meat products in-market, providing opportunities for South Australian exporters.
Dairy, seafood, wine and beverages, fruit and vegetables are providing sophisticated choices to Hong Kong – with Hong Kong’s per capita consumption of fresh fruit and vegetables amongst the highest in the world.
Hong Kong is facing challenges with an ageing population and demand for residential care increasing. Smart homes, technology to enhance the quality of life for ageing citizens, innovative healthcare and education and training are highly sought after.
The medical device market in Hong Kong is competitive, with international brands dominating the domestic market but, South Australian companies can take advantage of the perception that Australian service providers are perceived to be of high quality and would be accepted readily in the market.
Hong Kong is gaining a global reputation for its innovation and technology sector, yet opportunities still exist for hi-tech South Australian companies to provide support to Hong Kong’s smart cities blueprint. Assistive technology within the healthy ageing sector is highly sought after and artificial intelligence and robotics companies have the opportunity to be part of a technology research cluster in Hong Kong.