Want to start a business in China? Here are three tips for budding HK entrepreneurs

"I'm looking forward to a bright future in the Greater Bay Area. If every company in the Greater Bay Area can develop at the same pace as Qianhai zone in Shenzhen, I can't imagine how wonderful it will be in the future," said Sing Chan, a Hong Kong entrepreneur who has also dedicated years to helping budding entrepreneurs bring their business from Hong Kong to the mainland. Sitting in his office in Shenzhen, Chan encouraged more youths to explore a better future in the Greater Bay Area.

Sing Chan is a post-80s Hong Kong local, who graduated from London's Central Saint Martins. Due to his line of work, he frequently travels between Hong Kong and the mainland, so he is no stranger to the mainland, especially Shenzhen. In regards to his personal success, he offered budding Hong Kong entrepreneurs three tips.

Sing Chan, a post-80s Hong Kong local, encourages more youths to explore a better future in the Greater Bay Area. (Photo provided by Sing Chan)

Tip one: method

In 2015, Chan came to Qianhai to start his business, among the first batch of entrepreneurs who settled in the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub (E Hub). However, his business was not all plain sailing. He faced such problems as unfamiliarity to the local market and company transformation.

"When I strolled around after dinner one day, I noticed a banner outside a construction site in Qianhai, which indicated the positioning of this zone, reading: Based on Hong Kong, serve the Chinese mainland, face the outside world," Chan said, adding that these 12 words inspired him. "Why not set up a platform relying on such positioning?" Chan asked himself.

At that point, Chan's team utilized some resources and supporting laws in Hong Kong, and recruited operating personnel from the mainland, setting up an e-commerce company named Ekstech Limited to help mainland enterprises, already engaged in cross-border e-commerce, purchase overseas. In the first year, the company raised 50 million yuan in Series A financing.

"Since then, we have paid special attention to policies and documents issued by state organs, which can be a rich source of inspiration for us. I hope that by reading these policies, we stand a chance to seize more business opportunities in the future," Chan said, stressing that following the pace of the nation is essential in the process of starting up a business.

Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub (Photo/People’s Daily Online)

Tip Two: action

Chan believes that actions speak louder than words. In 2012, he started his first company in Hong Kong. In 2014, he started a business with his friends in Shenzhen. In 2015, he settled in the E Hub. In 2016, he began to take part in the development of the Qianhai entrepreneurship base as well as the E Hub in Nanshan District, hoping to help more youths.

"Our nation is developing dramatically. Keeping up with the pace of the country's development and not being left behind is crucial," Chan said. For him, opportunities are reserved for those who are prepared, and you must act quickly in a rapidly developing country.

Chan also has a keen interest in environmental protection. "In recent years, we've heard that lucid waters and lush mountains are invaluable assets. So sustainable development and environmental protection is another area that is well worth investing in." Chan has already consulted experts on smart cities, big data and water resource management and is on the way to help manage urban water resources with a set of scientific methods.

Tip Three: attitude

According to Chan, starting up a business is anything but easy, with enormous challenges such as unstable income and high risks. There was a time when his company's fund chain had some problems, and Chan chose to grit his teeth and carry on.

"In the eyes of employees, friends, and the outside world, you are a boss who is often in the limelight. However, you have a lot of pressures and difficulties they do not know about," Chan said.

He noted that it is essential to stay positive and remain grateful in order to face the difficulties and pressures on the road of entrepreneurship.

For Chan, Shenzhen's Qianhai is like a mirror, reflecting both north and south. "Looking north, we can see the advantages of socialism with Chinese characteristics and the special care given to Hong Kong by our nation. Looking south, we have a better understanding of the advantages of the 'one country, two systems' policy," he said.

Looking forward, he is confident in the future of the Greater Bay Area, encouraging more young Hongkongers to seize the opportunities offered by the Greater Bay Area and explore their dreams following these three tips.