How businesses can turn eCommerce endeavours into tangible triumphs

In this article

• Hong Kong: e-Commerce gateway to Asia and beyond
• Overcoming e-Commerce challenges
• Why HSBC is the bank e-Commerce businesses need
• How to open a business bank account with us
• Making banking simpler, faster and better for e-Commerce businesses

The global business landscape is undergoing a remarkable transformation, with e-Commerce revolutionising the way businesses connect with customers and conduct trade. The figures speak volumes. Business e-Commerce sales by companies across 43 economies that represent 75% of global GDP grew by nearly 60% from 2016 to reach USD27 trillion in 2022.¹

What fuels this rapid increase in sales? Technological advancements, shifting customer behaviours, and the widespread adoption of the internet around the world have converged to create a thriving online ecosystem. With unprecedented access to a global customer base, companies can now overcome geographical barriers and open up new avenues for growth. Yet they must also tackle a myriad of e-Commerce challenges in a dynamic and rapidly changing online marketplace.

Hong Kong’s unique position provides businesses with the support required to effectively address the challenges and complexities that arise in doing e-Commerce. Nestled at the crossroads of Asia and the world, Hong Kong has attracted numerous international brands and e-Commerce players seeking to capitalise on the city’s strategic advantages for growth and expansion. These advantages include:

• Strength as an international financial centre:

  Well-known for its business-friendly environment, Hong Kong has long been recognised as one of the world’s best places to do business. With a robust digital infrastructure, simple tax regime, and strong legal and regulatory frameworks including intellectual property protection laws, it remains an unrivalled destination for businesses looking to set up their e-Commerce ventures in the region.

• Unmatched connectivity:

  China’s online retail sales reached USD2.13 trillion in 2023, maintaining its position as the world’s largest online retail market for 11 consecutive years.² In 2023, the country’s cross-border e-Commerce exports grew by 19.6% year on year.³ Additionally, the total internet economy for Southeast Asia is forecasted to grow from USD194 billion in 2022 to over USD330 billion by 2025.⁴ Strategically located at the heart of Asia, businesses operating in Hong Kong are well positioned to tap into the remarkable growth in intra-Asia trade and seize the significant cross-border e-Commerce opportunities in the region.

• Logistics prowess:

  Hong Kong is a premier logistics hub in Asia with well-connected aviation and maritime transport and world-class cargo handling facilities. The Hong Kong International Airport has held the title of the world’s busiest international cargo airport since 1996.⁵ This efficient and reliable logistics network, coupled with the city’s free port status, provides significant benefits for e-Commerce businesses in sourcing, warehousing, management and distribution.

From smoothing out cross-border logistics and handling compliance and payment complexities, to engaging an increasingly discerning online audience in a highly competitive market, e-Commerce businesses need to consider:

Unfamiliar laws, language and cultures can make entering new markets a complex task for e-Commerce businesses. Managing cross-border payment collections and mitigating the risk of currency volatility add another layer of complexity.

For companies starting an e-Commerce business or expanding their operations, having a banking partner with a deep understanding of the nuances across different markets is essential. That’s where HSBC comes in. With our extensive global network spanning 60 countries and territories⁶, we know where the growth opportunities are.

Backed by our local market expertise and a comprehensive suite of e-Commerce and digital banking solutions, we empower companies at every turn, whether they’re operating locally or expanding globally.

No matter what stage your e-Commerce business is at, our Business Integrated Account solutions can offer you a range of banking and trade services via a single account – helping you simplify business financial management with our online and mobile banking platforms. We offer several types of business banking accounts:

It’s simple to open an HSBC business bank account online. For eligible customers, you can open a Business Integrated Account in as fast as three working days^*, with no in-person appointment needed and the ability to complete identity verification remotely on your mobile device.

Automated bank feeds:

As your e-Commerce business grows, transactions will become more frequent and may involve multiple bank accounts, making accounting tasks more challenging. Our free automated bank feed tool can simplify the process with daily automatic syncing of your transaction data into Excel or Google Sheets, enabling a more effective bookkeeping without manual hassle. It’s also compatible with a range of accounting software for easier sharing with colleagues or external accountants.

Requests made easy:
When managing your business bank account, you may need to raise various service requests, such as ordering cheque books or activating business cards. With our intuitive ‘Request & Form Directory’ function in Business Internet Banking, you can swiftly search and locate the relevant form, and then submit your requests in a paperless, hassle-free manner or through the most suitable channel available.

Get help faster:
Our dedicated customer support is also just a click away. If you have any questions about our products and services, simply click 'Need help?' on our public website and our virtual assistant and customer service officers will be ready to assist you.