An international airline hopes to get its feet on the ground in the business world with the launch of a new awards scheme to recognise UK business success in Hong Kong and China.

To coincide with its 25th anniversary of linking between London and Hong Kong, Cathay Pacific Airways is hosting its inaugural Cathay Pacific Awards to reward UK business dynamism in the region.

Three awards will be given to recognise the British company whose investment has added value to local Hong Kong or Chinese communities and employees, the company that has shown the most innovation in developing its Asian business and to the company that has shown the strongest commitment to business in China or Hong Kong.

“While China represents a significant opportunity for growth, businesses must recognise the challenges they will face and be prepared to adapt their business model to accommodate the demands of the market,” said Philip Chen, chief executive of Cathay Pacific Airways.

“As a Hong Kong-based company Cathay Pacific’s knowledge of the area and experience of the Asia Pacific business environment puts it in an ideal position to recognise the achievements of UK business in the area.”

Two employees from each winning company will be invited to a session at Tsinghua University in Beijing aimed at expanding local market knowledge.

Closing date for entries is 30 November. Firms may enter through the airline’s web site at www.cathaypacificawards.co.uk.