Hong Kong Offers World-Class Advantages to Global Payments Specialist

The international financial centre has provided a hub for GC Partners to drive growth in Asia.

Asia, home to some of the world’s fastest-growing economies, has become a prominent leader of global trade. Recognising the need to tap into this burgeoning market, financial services provider GC Partners set up its Hong Kong office in 2021 as a key hub to further expand into the region.

Flourishing in Hong Kong’s Business-friendly Setting

“Hong Kong is renowned as one of the key growing economies in international trade, benefiting from the open market nature, stable banking systems and the sound and fully transparent legal system,” said Stingray Kwan, Country Manager – Asia of GC Partners, explaining that the dynamic city remains Asia’s premier gateway for international business.

As a specialist financial services provider, GC Partners offers tech-powered solutions and services that help clients move money overseas. Since its establishment in 2003, the company has helped more than 150,000 clients transfer money to more than 125 markets across the globe. Prior to its expansion to Asia, GC Partners had already established a strong presence in the United Kingdom, Europe and the United Arab Emirates.

Since setting up its office in Hong Kong, GC Partners has been able to better serve its target clients, which include traders, importers and exporters as well as manufacturers, many of whom have also set up their operations in the city to take advantage of its free trade environment, low taxes and open economy. 

Strategic Connectivity

According to Kwan, another key advantage of Hong Kong is its proximity to Mainland China. “Hong Kong hosts the largest pool of RMB liquidity outside Mainland China and serves as a springboard for foreign firms seeking access to Mainland China and for Mainland companies going global,” Kwan stated. 

The Hong Kong office has also allowed GC Partners to serve many of its clients who carry out their import and export business in the Guangdong-Hong Kong-Macao Greater Bay Area. “With financial links with the Mainland projected to strengthen through various schemes and initiatives, Hong Kong’s strategic advantage will only deepen,” Kwan added.

Aside from being an international finance centre, Hong Kong is at the forefront of digital transformation, Kwan said. According to the IMD World Digital Competitiveness Ranking 2022, Hong Kong is the third most attractive tech hub in Asia. “With initiatives by the likes of the Hong Kong Monetary Authority designed to promote and encourage further technological advancement, Hong Kong is well positioned to attract investors and FinTech companies to accelerate the future development of digitalisation,” Kwan said.

Taking advantage of the many opportunities in this vibrant city, GC Partners is looking to expand its Hong Kong team significantly by the middle of 2024 as it prepares for longer-term growth in the wider Asia market.