In a hotel lobby on Hong Kong Island, a delivery robot pauses outside one of the lifts as the doors open, and a guest steps out. The robot waits, and then rolls neatly inside. The move looks simple, but it isn't. To work in the busy hotel, owned by an international chain, the robot must navigate a building that won't slow down for it. People are often getting in the way, and it must be able to take the lift to the correct floor, and then find the right room.
The company behind the robot, Yunji, is a mainland Chinese tech business aiming to use Hong Kong as a springboard for successful overseas expansion. We aim to make our product succeed in Hong Kong, and then expand outward, says the firm's vice-president, Xie Yunpeng.
Hong Kong is becoming increasingly important for such mainland Chinese tech companies as a place to raise money, test products with international clients, and build credibility for overseas expansion. This shift is driven by fears regarding state-led espionage and domination of foreign tech markets, leading these firms to find capital and trust in Hong Kong instead.
Last year saw a significant increase in the listing of mainland firms on the Hong Kong Stock Exchange, with many seeking to secure a foothold in international markets. Firms like Yunji, which builds service robots for various sectors, and MiningLamp Technology, a Chinese AI firm, view Hong Kong as a vital location for testing international standards and compliance.
Even with a Hong Kong base, mainland companies face challenges due to tightened regulations in the US and Europe, which scrutinize Chinese investments closely. With political upheavals in Hong Kong leading to new security laws, the situation remains complex, yet Hong Kong still presents a unique gateway for Chinese tech firms seeking global engagement.
