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Japanese firms eye Hong Kong as RCEP launch pad

Japanese firms are eyeing Hong Kong as a gateway to the Regional Comprehensive Economic Partnership (RCEP) markets, according to a survey by the Hong Kong Trade Development Council. The RCEP is a free trade agreement between 15 Asia-Pacific nations. Over 60% of the 100 Japanese firms surveyed, most of which are in imports and exports, said they planned to expand their RCEP operations through their Hong Kong office over the next three years. The Greater Bay Area, which includes Guangdong, Hong Kong and Macau, was cited as accounting for 40.4% of plans, followed by the Association of Southeast Asian Nations, which accounted for 39.4%. Hong Kong's business network with the mainland was named the city's biggest strength by 88.8% of respondents, while 79.7% cited capital flows and currency exchange, and 72% named its efficiency as a transshipment hub.


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