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CPA Australia Survey: Hong Kong businesses are looking to expand as confidence improves in 2025
Surveyed executives and accounting professionals show a relatively optimistic outlook for Hong Kong’s economy, with 63 per cent anticipating the local economy will grow next year. Hong Kong’s tax system (31 per cent) ranks as the largest positive contributor to the city’s economic and business environment in 2025, while changes in consumer patterns (26 per cent) and tension in US-China relations (26 per cent) are seen to be the two biggest challenges. 56 per cent of respondents rated Hong Kong’s international competitiveness as high.
Mr. Cliff Ip, CPA Australia 2024 Divisional President of Greater China, said, “The survey findings reflect that Hong Kong’s economy and business confidence are expected to steadily improve in the coming year. Recent stimulus measures unveiled by the central government and the Hong Kong government have contributed to this improved sentiment. The start of the rate-cutting cycle has also boosted business confidence. These positive factors should keep this momentum going into 2025 and strengthen Hong Kong’s international competitiveness.
“However, external uncertainties still weigh on some sectors such as tourism and retail. Respondents indicate that changing customer behaviour and weak customer demand are some of the key challenges they expect to face in 2025. In response, companies must keep innovating their products and services, and how they deliver them. They also need to frequently engage with customers and potential customers to better understand trends both in Hong Kong and elsewhere.”
The outlook for initial public offerings (IPOs) in the city is also optimistic. Some 63 per cent of respondents expect the value of funds raised in Hong Kong through IPOs to increase in 2025. “IPO activity in Hong Kong has shown signs of recovery since Q3 due to some mega-sized IPOs. Policies and regulatory reforms are stimulating capital activities and boosting investor confidence,” Ip explained.
The improving economic sentiment is flowing through to revenue projections and business expansion plans in 2025. 51 per cent of respondents predict their company’s revenue will grow next year, with an increase in revenue of between 5 to 20 per cent being the most popular prediction.
In response to this improving business environment, respondents are most likely to forecast that their company will increase their investment in advanced technologies (38 per cent), sales and marketing (37 per cent) and expansion outside of Hong Kong (36 per cent). A notably high proportion of respondents to this survey stated that their company has expansions plan in the next three years at home or abroad, with mainland China (40 per cent) again nominated as the most popular destination.
Though cost management remains the top strategic focus for many companies, the percentage choosing it has dropped from 39 per cent in 2024 to 27 per cent in 2025. While slightly more are expected to focus on market expansion activities (27 per cent) and innovation and digitalisation (26 per cent).
Ip stated, “The more positive business environment is being reflected in an expected shift in corporate strategy away from defensive strategies such as cost management and improving business efficiency towards more expansionary strategies such as market expansion and innovation.”
To support growing revenue and expansion plans, companies are keen to add more employees and increase salary to retain talent. 57 of per cent respondents expect that their companies to increase headcount, the highest new hiring intention since 2020. These new hiring intentions are strongest amongst larger companies. Salaries are expected to grow, with 62 per cent expecting to receive a salary increase in 2025.
While the economy looks to be on a positive trajectory, predictions for price changes in the property market in 2025 are uncertain, with similar numbers of respondents expecting prices to increase and decrease, however more respondents expect prices to increase than the previous two years.
Ip explained, “The city’s property market is recovering, with demand gradually growing. This is due to recent interest rate cuts and changes in government policies such as the relaxation of restrictive measures in the housing market. However, with sectors such as SMEs undergoing a relatively slower recovery due to the weak domestic demand, this is leading to stagnation in the rental market.”
The survey data shows nearly all Hong Kong companies have introduced at least some ESG measures into their operations, with only three per cent stating they have not taken any ESG actions. Another 35 per cent expect their company to increase their ESG-related initiatives and activities next year. Respondents were most likely to nominate compliance and increasing compliance costs as the biggest impact ESG is having on their business.
CPA Australia collected 568 responses from Hong Kong-based executives, accounting and finance professionals working in various industries in October and November for this Hong Kong Economic and Business Sentiment Survey 2025.
Hashtag: #CPAAustraliaHongKong #2025HongKongBusinessOutlook #Forecast #Advocacy #ThoughtLeadership #Accounting
https://www.cpaaustralia.com.au/
https://www.linkedin.com/school/cpaaustralia/
The issuer is solely responsible for the content of this announcement.
CPA Australia
CPA Australia is one of the largest professional accounting bodies in the world, with more than 173,000 members in over 100 countries and regions, including more than 22,500 members in Greater China. CPA Australia has been operating in Hong Kong since 1955 and opened our Hong Kong office in 1989. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on issues affecting the accounting profession and the public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at cpaaustralia.com.au
Acquisition creates a fully integrated regional connectivity platform, enabling seamless, low-latency connectivity that supports ASEAN’s expanding digital economy
SINGAPORE/KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 13 December 2025 – SEAX Global (“SEAX”), a leading wholesale connectivity provider in Southeast Asia, today announced it has acquired a major stake in Interlink Telecom Public Company Limited (“ITEL”), a prominent Thai fixed network telecommunications provider.
This acquisition consolidates SEAX’s presence across Malaysia, Singapore, Indonesia, and now Thailand, integrating ITEL’s nationwide fiber network infrastructure and telecommunications licences with SEAX’s regional subsea and terrestrial networks. By leveraging ITEL’s on-ground operational capabilities alongside SEAX’s cross-border reach, customers can expect faster deployment timelines, greater service flexibility, and more seamless regional connectivity.
ITEL Global, a new subsidiary formed to serve international requirements from both local and major global clientele, will continue managing operations within Thailand, preserving its local expertise and market familiarity while aligning with SEAX’s broader regional strategy to deliver a network footprint with unparalleled coverage, improved reliability, and a customer-centric approach throughout Southeast Asia.
Louis Teng, Group CEO of SEAX Global, said, “By bringing together our regional networks with ITEL’s deep local expertise in Thailand, we’re creating a powerful, customer-focused platform that can keep pace with the rapid digital transformation underway in ASEAN. This partnership enables us to deliver robust, low-latency connectivity solutions that meet the evolving needs of enterprises and digital ecosystems seeking seamless cross-border service.”
Dr. Nuttanai Anuntarumporn, Group CEO of Interlink Telecom, added, “Thailand’s digital infrastructure is evolving swiftly, and through collaboration with SEAX, we have the opportunity to become a regional seamless connectivity provider, developing and operating high-performance cross-border infrastructure connecting Thailand, Singapore, Malaysia, Indonesia, Vietnam, and Hong Kong. Together, we will jointly build and operate this infrastructure, integrate our networks, and deliver seamless regional connectivity across ASEAN.”
McKinsey highlights that Southeast Asia’s digital economy is projected to grow at a compound annual growth rate of nearly 20%, fuelled by rising digital adoption across businesses and consumers, and expanding digital services including cloud computing and online payments. This surge is driving robust demand for reliable fibre connectivity and cross-border data solutions critical for digital platforms, OTT providers, and multinational enterprises.
This strategic expansion creates an integrated end-to-end regional connectivity platform, improving network coverage, reliability, and service flexibility. SEAX’s SIJORI hub, covering Singapore, Johor Bahru, and Batam, complements Interlink’s Thailand network, critical as digital economy growth accelerates, especially via data centre and AI-related services.
Hashtag: #SEAXGlobal
The issuer is solely responsible for the content of this announcement.
SEAX Global
SEAX Global is a privately funded, geopolitically neutral leader in Southeast Asia’s wholesale connectivity solutions. Established in 2013, SEAX specializes in submarine and terrestrial cable systems, cable landing stations, and data center colocation, providing seamless, high-performance connectivity across the region.
SEAX is owned by Forbes Asia Billionaire Dato’ Dr. Low Tuck Kwong’s family, the Singapore-born Indonesian entrepreneur best known as the founder of Bayan Resources and one of Southeast Asia’s wealthiest businessmen.
The company holds full operational licenses in Malaysia, Singapore, and Indonesia. These licenses uniquely allow SEAX to build and operate private fixed networks for dedicated or enterprise use. Leveraging its regulatory compliance, extensive network portfolio, and regional expertise, SEAX empowers businesses with reliable, scalable, and secure data transmission, supporting cross-border connectivity and exceptional customer service across Southeast Asia while positioning itself for continued growth and regional expansion.
Interlink Telecom
Interlink Telecom Public Company Limited (ITEL) is Thailand Telecommunications Network Service Provider, with a type 3 Telecommunications License from The National Broadcasting and Telecommunications Commission (NBTC). ITEL provides telecommunication services through a fiber optic network nationwide in Thailand. The company offers various services, such as MPLS IP-VPN, dark fiber, wavelength, IPLC, as well as telecommunication network installation and broadcast services. ITEL also provides data center space services, including co-location, cloud computing, and disaster recovery services. ITEL was established in 2007 and headquartered in Bangkok, Thailand. In 2024–2025, ITEL expanded into its fourth business segment in medical equipment distribution and service. Through Interlink Health Technology (IHT), the company provides medical equipment rental services, supported by skilled technicians and mobile service units for hospitals nationwide.
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M7 World Championship unveils first Opening Ceremony, tournament draw, and M7 Pass—elevates Indonesia on global stage
The Swiss Stage sets up early mouthwatering clashes between tournament favourites—Team Liquid face Aurora Gaming PH in a Filipino showdown, while Selangor Red Giants face CG Esports in a Malaysian rivalry.
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MLBB Women’s Esports
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Hashtag: #MOONTONGames, #M7, #Esports, #Gaming
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A First in the Asia-Pacific – Taiwan Leads the Launch of the Early Kidney Disease Annual Report, Opening a New Era in Advancing Kidney Care
- Yung-Ho Hsu, Secretary General of the Taiwan Society of Nephrology
- Shang-Jyh Hwang, Honorary President of the Taiwan Society of Nephrology
- Masaomi Nangaku, Immediate Past-President of the International Society of Nephrology
- Marcello Tonelli, President of the International Society of Nephrology
- Mai-Szu Wu, President of the Taiwan Society of Nephrology
- Chung-Liang Shih, Minister of the Ministry of Health and Welfare
- Ching-Fen Shen, Director General of the Health Promotion Administration, Ministry of Health and Welfare
- Chih-Cheng Hsu, Professor at the National Health Research Institutes
- Hyeong-Cheon Park, President Elect of the Asia Pacific Society of Nephrology
- Rajnish Mehrotra, President of the International Society of Peritoneal Dialysis
The complete and immediate analysis aids in reversing the past trend where most patients were diagnosed at late stages and required dialysis, ushering in a new era of early detection and treatment. Minister of Health and Welfare, Chung-Liang Shih, stated at a press conference that this annual report serves as a new engine for promoting precise care, integrating complete data and risk classification indicators for Early CKD P4P(Pay for Performance) and Pre-ESRD P4P. This fills the gap in early kidney disease data and strengthens the quantitative basis for policy and clinical decision-making, facilitating early intervention and delaying disease progression. The goal is to achieve the Healthy Taiwan Policy target of reducing the standardized mortality rate for chronic diseases by one-third by 2030, and for Taiwan’s care model to become an example in the Asia-Pacific, establishing a sustainable and precise new framework for kidney care.
The early kidney disease annual report reveals several key trends. According to KDIGO risk classification, the proportion of high-risk and very high-risk patients in the P4P program has gradually decreased in recent years, reflecting a shift in treatment strategies toward early intervention and prevention. This trend not only highlights the medical team’s emphasis on the care of early-stage chronic kidney disease patients but also helps delay disease progression and reduce the incidence of later-stage complications. In terms of controlling the “three highs” (hyperglycemia, hypertension, and hyperlipidemia), data shows that approximately 80% of patients meet lipid targets and nearly 60% maintain stable blood sugar levels. However, only about 30% meet the target for blood pressure below 130/80 mmHg, indicating significant challenges remain in blood pressure control. The “three highs” are important risk factors for the progression and deterioration of chronic kidney disease, making it crucial to further improve control rates. The implementation of the P4P program has already shown preliminary results, and there are expectations for more immediate, comprehensive, and rigorous data collection and tracking, which will more fully demonstrate the long-term benefits of this care model.
Data-Driven: Taiwan’s First Early Kidney Disease Annual Report Fills Care Gaps
Professor Chih-Cheng Hsu from the National Health Research Institutes pointed out that past domestic kidney disease care has primarily focused on dialysis and end-stage disease, with limited understanding of early stages and delayed updates on data. This annual report breaks through traditional reporting frameworks and represents the first integration of complete data and risk classification indicators for Early CKD P4P and Pre-ESRD P4P. Utilizing big data for in-depth analysis, it outlines the disease progression and comorbidity trends of patients at different risk levels, successfully filling the long-term gap in early kidney disease care. He noted that grasping information on early stages of disease helps clinicians intervene earlier and delay deterioration while providing quantitative evidence for health policies to promote proactive and timely kidney care strategies, enhancing Taiwan’s international competitiveness in precise health governance.
Early CKD P4P and Pre-ESRD P4P are two phased quality-based reimbursement programs promoted by the National Health Insurance Administration, addressing key care needs for early chronic kidney disease and pre-dialysis patients, respectively. Early CKD P4P primarily targets patients in CKD stages 1-3a, aiding healthcare institutions in early identification of kidney deterioration risks through disease tracking and integrated care models, providing personalized management. Pre-ESRD P4P focuses on patients in CKD stages 3b, 4-5, enhancing control of complications, medication, and nutritional management while utilizing data feedback to support treatment decisions, aiming to delay dialysis and improve care efficiency. Both programs link the complete processes from early prevention to pre-dialysis intervention, contributing to improved overall CKD care quality and patient long-term prognosis.
Precise Kidney Care: Holistic and Continuous CKD Care as a Model for Chronic Disease
Taiwan centers its approach on “precise care,” continuously optimizing the integrated chronic kidney disease care system to implement policy blueprints in clinical practice. Director General of National Health Insurance Administration, Lian-Yu Chen, mentioned that Taiwan has progressively refined various measures, from educational programs for pre-end-stage renal disease patients to integrated care plans for early chronic kidney disease. The medical team can adjust personalized treatment strategies based on patient risk classification and clinical data, strengthening disease management and follow-up effectiveness for early-stage patients. She indicated that by integrating and providing feedback across units, care gaps could be minimized to ensure that patients receive consistent medical services across different levels of care. Director General of Health Promotion Administration, Ching-Fen Shen, remarked that grassroots health education and community health advocacy go hand in hand to enhance public awareness of kidney health. Years of efforts have significantly slowed the deterioration of early kidney disease progression, with patients participating in integrated care exhibiting a lower future risk of dialysis compared to those who do not participate, showing tangible effectiveness of the Taiwan model.
Policy Linkage and Sustainable Vision: Achieving the Healthy Taiwan Goals and Leading the New Landscape of Asia-Pacific
In response to the government’s “Healthy Taiwan” policy, Taiwan is implementing a preventive kidney care model based on the Early CKD P4P and Pre-ESRD P4P systems and the Early Kidney Disease Annual Report. President of the Taiwan Society of Nephrology, Mai-Szu Wu, stated that investing in early chronic kidney disease management not only contributes to health sustainability but also reduces waste of medical resources, achieving dual benefits of health outcomes and environmental sustainability, assisting the government in its goal to reduce chronic disease mortality by one-third by 2030.
During the Asia-Pacific Nephrology Conference (APCN) held in Taipei this year, the Asia-Pacific’s first Early Kidney Disease Annual Report was officially unveiled. President of the International Society of Nephrology, Marcello Tonelli, and Immediate Past-President , Masaomi Nangaku, along with the President Elect of the Asia Pacific Society of Nephrology Hyeong-Cheon Park and Honorary Secretary Sunita Bavanandan attended as witnesses, attracting experts from South Korea, Japan, Thailand, Malaysia, Australia, New Zealand, Singapore, Hong Kong, Mongolia, Indonesia, and the Philippines. Additionally, various important domestic academic societies, including the Taiwan Academy of Family Medicine, Taiwan Society of Cardiology, the Diabetes Association of the Republic of China (Taiwan), the Taiwan Association of Clinical Diabetes, and the Taiwan Medical Clinics Association also participated and supported the event. Minister Chung-Liang Shih expressed gratitude for the collective efforts and emphasized that this kidney annual report showcases Taiwan’s leading position in medical data integration and clinical evidence, hoping that real-time and comprehensive data analysis will once again showcase Taiwan’s precision care model to the international community, working together with other countries to create a new global framework for chronic kidney disease prevention and treatment.
Hashtag: #TaiwanSocietyofNephrology
The issuer is solely responsible for the content of this announcement.
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