The textiles industry in Hong Kong encompasses a number of establishments and manufacturers that engage in activities like spinning, weaving, and knitting as well as the production of clothes and interior textiles.
Investors who open a textile manufacturing business can access a less explored business field, compared to the services sector, for example, that presents various opportunities for development and for export, depending on the manufactured product.
Our Hong Kong company registration agents highlight the main industry features and present the simple method of starting a Hong Kong company.
The textiles industry in Hong Kong
Hong Kong’s textile industry is represented by a number of original design manufacturers and original equipment manufacturers. The city’s textile manufacturing industry began to grow significantly in the 1960s when a number of factories were built in the Kwun Tong Industrial Estate.
Hong Kong can be considered a main clothing and fashion hub in the region, and many of its textile products are being exported, with a preferential tariff-free regime to Mainland China. This is the main reason why many textiles companies engage in trading and are known to be suppliers of quality fabrics.
The clothing industry is an important employer in Hong Kong and it is estimated that over 3,000 workers activate in this business field. Some textiles companies in Hong Kong have entered into partnerships with Chinese companies, for example with cotton suppliers.
Many companies in Hong Kong that enter the textile and clothing industry focus on the production of high-quality materials, such as fine knitted fabrics or innovative dyed and printed fabrics.
Steps for starting a business in Hong Kong
Entrepreneurs need to follow a number of key steps in order to open a Hong Kong company. Textile and clothing businesses will typically be incorporated as a limited liability company. The new business structure needs to have a unique name and our agents provide a name check tool, as a first step before commencing the company registration.
All businesses in Hong Kong are registered with the Companies Registry once the company documents are in order. The registration is a speedy process, with the company being able to start its business activities in just a few days if all of the submitted documents are in order.
Contact our Hong Kong company formation agents for complete details on how to open a company and the industry-specific requirements.