Mainland Chinese tech firms using Hong Kong's support to ease geopolitical risks
Insta360, a company listed in Shanghai that holds a 70 per cent share of the global panoramic camera market, is having its Hong Kong distributor open the company's first multi-storey global flagship store in the city.
'To be able to enter the Hong Kong market is basically the first step for them to go international,' said Angus Yip, senior marketing manager for Vast World, Insta360's exclusive distributor in the city.
'Many have this reaction: 'If I can make it in Hong Kong, I should be able to make it in foreign countries'.'
Yip added that the corporate matchmaking service provided by the city's trade promoter, the Hong Kong Trade Development Council, which involved scrutinising company backgrounds and assessing business needs, saved him a great deal of time when selecting appropriate partners.
For Insta360, this move represents a significant physical retail investment despite the fragile market, where total citywide retail sales increased by just 0.7 per cent in June. The flagship store will also serve as a hub to promote its technology in traditional sectors.
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