Hong Kong continues to be one of the most relevant markets in Asia for Italian businesses. Indeed, 2026 confirms this trend with renewed energy. From a packed calendar of bilateral events to underused trade agreements, the opportunities for Italian SMEs have rarely been so concrete.
A Bilateral Relationship That Keeps Growing
The economic relationship between Italy and Hong Kong is both substantial and diverse. Indeed, it spans decades of commercial exchange and mutual investment. Bilateral merchandise trade reached EUR 7.2 billion. As a result, Italy is now Hong Kong’s fourth-largest EU trading partner and its third-largest EU import market.
Currently, around 200 Italian companies are active in Hong Kong. These range from globally recognised brands to leading players in banking, insurance, logistics and food. Moreover, Hong Kong is the third-largest destination for Italian investment in Asia. Meanwhile, Hong Kong investors rank as the third-largest Asian investors in Italy. Therefore, the relationship works both ways, with capital and expertise flowing in both directions.
Italian Businesses Are Doubling Down on Asia
According to a report published at the end of 2025 by the Hong Kong Trade Development Council (HKTDC) and the Italy China Council Foundation (ICCF), Hong Kong has become increasingly strategic for Italian companies. Indeed, the report draws on extensive surveys of Italian firms with existing or planned operations in Asia.
The report highlights several key findings. Firstly, 77% of Italian companies plan to expand in Asia over the next three years. Additionally, Hong Kong is cited among the top priority markets, alongside Mainland China, Japan, South Korea and India. Furthermore, 93% of Italian businesses believe Hong Kong can effectively support their Asian expansion plans. Consequently, Hong Kong’s strengths as a logistics and supply chain hub were widely recognised throughout the survey.
In other words, Italian companies are not just interested in Hong Kong. Instead, they consider it essential to their overall Asia strategy.
The Hidden Opportunity: Trade Agreements Nobody Is Using
Despite this strong relationship, the same report uncovered a significant gap. Specifically, 80% of Italian companies surveyed were either unaware of the Closer Economic Partnership Arrangement (CEPA) or did not know how to leverage its benefits. Indeed, this finding is striking given how long the agreement has been in place.
CEPA has provided Hong Kong-based suppliers with privileged access to the Mainland Chinese market since 2003. Furthermore, it removes tariffs and eases market access across a wide range of goods and services. However, only 12% of Italian companies currently use these advantages through strategic partnerships in Hong Kong.
As ICCF Head of Research Sara Berloto pointed out, there is a real need for information, training and institutional support. Particularly for SMEs, this support is essential to make strategic use of agreements like CEPA and the Regional Comprehensive Economic Partnership (RCEP).
Therefore, for Italian businesses, this represents a clear and immediate opportunity. The framework already exists, and the legal pathways are established. However, most companies simply are not using it. As a result, those who act now have a meaningful head start over competitors who remain unaware.
A Busy June for the Italian Business Community in Hong Kong
The momentum continues with a packed calendar of events organised by the Italian Chamber of Commerce in Hong Kong this June. Indeed, this reflects just how active the local Italian business community currently is.
On June 3, 2026, the community celebrates Italian National Day with “A Celebration of Ospitalità Italiana.” This event brings together businesses, institutions and the wider Italian diaspora in the territory. Moreover, on June 5, 2026, a dedicated session titled “Unlocking Private Sector Value and Investment Opportunities” takes place. Finally, on June 17, 2026, the Joint Chamber Networking Mixer brings together Italian and German businesses.
These events offer Italian entrepreneurs direct access to the local business community, institutional contacts and potential partners. As a result, they provide essential ingredients for a successful market entry.
How Kelmer Group Can Help
Entering Hong Kong is only the first step. Indeed, the real opportunity lies in knowing how to use the tools already available. These include CEPA and RCEP, as well as the right corporate structure for accessing the Chinese Mainland market.
Kelmer Group supports Italian businesses at every stage. Our services include company incorporation, tax advisory, regulatory compliance, and business matching with vetted local partners. As a result, we help turn Hong Kong’s potential into concrete results.
Contact our Hong Kong team to find out more.