HONG KONG - In the span of half an hour from departing Shenzhen railway station in mid-October, Feng Guo-hua found himself in Hong Kong, ready to inspect his novel culinary venture nestled in the heart of Kowloon.
An adept of mainland China's gastronomic realm, Feng opted to explore the city this year with his unique brand of Hunan cuisine. He asserted that the market for piquant fare in the bustling metropolis was far from saturated. More significantly, his aspiration was to extend his culinary footprint into international territories.
"In our odyssey abroad, Hong Kong marks our inaugural destination. Operating a business here is exorbitant. If we can thrive in Hong Kong, we can thrive anywhere," Feng articulated in Mandarin. In the expansive 5,000-square-foot space, servers hurriedly delivered dishes teeming with chilies to patrons.
The 44-year-old entrepreneur disclosed that he and his partner injected approximately HK$8.5 million into the new establishment, encompassing rental deposits, decor expenses, and equipment, nearly tripling the costs of launching a branch in Shenzhen.
In recent times, a slew of mainland Chinese chain restaurants and tea establishments have ventured into Hong Kong. Tony Ng, a Hong Kong entrepreneur with prior experience in mainland China's culinary scene, capitalized on this trend.
Ng introduced Yao Yao, a chain specializing in Sichuan-style fish soup with pickled mustard greens, to Hong Kong through a franchise collaboration in late 2021. The brand has since established four branches in the city.
Hong Kong is no stranger to restaurants under mainland Chinese ownership, from small familial eateries to enterprises run by ambitious young minds eyeing public listing success, mirroring the achievements of the renowned hotpot chain Haidilao, which amassed nearly HK$8 billion upon listing on the Hong Kong Stock Exchange in 2018.
Meanwhile, Feng immerses himself in the intricacies of Hong Kong's regulations and financial framework, meticulously calculating the odds. He expressed that, if the inaugural eatery in Hong Kong thrives, his plan is to unveil approximately 20 more establishments in the city over the next two years, concurrently expanding into international territories.
"China's economic recovery will demand several years. Yet, it's not exclusive to China; the global economic landscape is unfavorable. We must also safeguard against the specter of war. What significance does business hold in the midst of a world at war?" Feng pondered. "Our strategy revolves around risk diversification, ensuring our assets are not concentrated in a solitary vessel."
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