The challenge for Hong Kong going forward is to maintain its ease of doing business without compromising its reputation as a responsible trading partner. © Reuters

How business-friendly Hong Kong became a hub of Russian chip trade

Ease of setting up companies makes dodging sanctions easier, experts say

CISSY ZHOU and KENJI KAWASE, Nikkei staff writers

April 21, 2023 06:00 JST

HONG KONG -- In Hong Kong, setting up a shell company can be done in a matter of days and for less than the cost of an iPhone.

This business-friendly system began under British rule -- and continued under communist China -- helping the city transform itself into one of the world's most successful commercial hubs.