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Associated Press
30-07-2025
- Business
- Associated Press
Hong Kong Shopping Festival Returns in August With Bigger and Better 2nd Edition
Spotlighting Nearly 260 Brands and Opening the Way for Hong Kong SMEs to Thrive in Mainland E-commerce - The HKTDC returns with the second Hong Kong Shopping Festival in August, building on the initiatives in the 2024 Policy Address to help local SMEs expand into the Mainland China market through e-commerce channels - The Hong Kong Shopping Festival is the flagship event of the E-commerce Express, and has received an enthusiastic response, attracting nearly 260 brands presented by Hong Kong SMEs across seven major categories, providing them with practical opportunities to operate on key e-commerce platforms in the mainland - Fully supported by the Hong Kong Special Administrative Region (HKSAR) Government, Financial Secretary of the HKSAR Government Paul Chan filmed a promotional video for the Hong Kong Shopping Festival. HONG KONG - July 30, 2025 ( NEWMEDIAWIRE ) - The second Hong Kong Shopping Festival, organised by the Hong Kong Trade Development Council (HKTDC), will take place on Mainland e-commerce platforms from 1 to 31 August. Fully aligned with measures outlined in the 2024 Policy Address, the festival aims to support Hong Kong's small and medium-sized enterprises (SMEs) as they expand into the Mainland e-commerce market. As the flagship event of HKTDC's E-commerce Express, the Hong Kong Shopping Festival has attracted nearly 260 brands across seven major categories, including health supplements, food and beverages, home and living, personal care and cosmetics, apparel and accessories, smart gadgets, and products for the silver market. The festival features over 500 unique products and offers month-long discount promotions. With the full support of the Government of the Hong Kong Special Administrative Region (HKSAR), a launch ceremony for the second Hong Kong Shopping Festival was held today. The Financial Secretary of the HKSAR Government Paul Chan also filmed a promotional video for the campaign (video link: ). Algernon Yau, Secretary for Commerce and Economic Development of the HKSAR Government said: 'Building on the great success of the first edition of the Hong Kong Shopping Festival last year, this year's event has attracted even more brands to participate. E-commerce is a major global trend in retail development. In 2024, the cross-border e-commerce market of the Mainland with vast potential reached over RMB17 trillion, presenting a golden opportunity for Hong Kong businesses to expand. In light of this, the government has been fully supporting industry upgrading and transformation through various measures to help enterprises establish online sales channels. The Hong Kong Shopping Festival serves as an ideal platform to showcase the city's premium products to more Mainland consumers.' Patrick Lau, Deputy Executive Director, HKTDC, said: 'New consumer trends are emerging in the Mainland market, reshaping buying habits and creating tremendous opportunities for Hong Kong businesses. While Hong Kong SMEs offer high-quality products, they need to understand the local business environment and e-commerce practices to successfully enter this vast market. As the flagship event of HKTDC's E-commerce Express, the second Hong Kong Shopping Festival will partner with major e-commerce and social media platforms for promotion and include a series of training sessions focused on the Mainland e-commerce market. This initiative aims to help businesses effectively tap into opportunities in Mainland e-commerce and connect with their target customers.' In November 2024, the Hong Kong Trade Development Council (HKTDC) released a research study on the development of cross-border e-commerce for Hong Kong traders. HKTDC Director of Research, Irina Fan, said over 60% of surveyed Hong Kong businesses view the Mainland Chinese market as the most promising e-commerce market in the coming one to two years. To help Hong Kong businesses gain insights into the Mainland e-commerce market, HKTDC Research interviewed 2,200 Mainland consumers from different regions about their online shopping behavior and characteristics. Ms Fan said: 'Mainland China is the world's largest e-commerce market and has a well-developed e-commerce industry. Hong Kong businesses must gain a deep understanding of Mainland consumers' online shopping behaviors, their preferences for Hong Kong products, and the factors they consider when choosing e-commerce platforms. Only then can they formulate appropriate business strategies and effectively capture opportunities in the Mainland e-commerce retail market.' The latest research report: Hong Kong Businesses Navigating Mainland China E-commerce Retail Market - Consumer Survey Results will be released on 7 August 2025. The Hong Kong Shopping Festival aims to help Hong Kong businesses take advantage of the large customer base and traffic on Mainland e-commerce platforms, boosting their brand and product visibility while providing practical opportunities. Last year's inaugural edition was very successful, with total views on e-commerce platforms, social media, and the event's official website exceeding 90 million. This year, the HKTDC has enhanced the programme, enabling businesses to better seize market opportunities and speed up their expansion into the Mainland market. To enhance support for Hong Kong SMEs and local brands entering the Mainland e-commerce market, this year's Hong Kong Shopping Festival has introduced thematic seminars and one-on-one consultancy services. From late 2024 to June 2025, HKTDC has successfully organised a series of training sessions led by marketing experts, who shared practical insights on topics such as cross-border e-commerce, logistics, payment tools, marketing skills, and live-stream production. Additionally, nearly 50 one-on-one consulting meetings were held, where Mainland marketing experts offered tailored e-commerce strategies to individual participating companies based on the unique characteristics of their products. This year, Discount Month and live-streaming e-commerce will return with enhanced offering. Discount Month will take place from 1 to 31 August, with all Hong Kong businesses involved in the Hong Kong Shopping Festival offering discounts of up to 75%. This initiative not only helps businesses grow but also allows consumers to buy high-quality products from Hong Kong online. The official website of Hong Kong Shopping Festival will provide event details, live-streaming schedules and information about participating brands, products and discounts. In addition, HKTDC will promote the campaign through online and offline platforms, including Xiaohongshu, Douyin, Taobao, JD and others, to boost visits to the official website and, redirect them to the SMEs' online stores. HKTDC recently hosted the debut 'Product Selection Showcase' which attracted over 40 popular KOLs and their teams from platforms like Taobao, and Douyin to connect with participating brands offline in Hong Kong. They experienced the products firsthand, learned about the brand stories, shared highlights and live-stream previews. In early August, HKTDC's invited Mainland key opinion leaders (KOLs), including Li Jiaqi, Lin Yilun and Hu Ke, will conduct 35 live-streaming sessions for more than 80 brands on major e-commerce platforms, in which nearly 20 live-streaming sessions will take place in Hong Kong for the first time, allowing Mainland consumers to fully experience shopping in Hong Kong. This arrangement will make live-streaming more appealing, enhance visibility for Hong Kong products and brands, and build consumer trust and interest, while providing a valuable live-streaming experience for participating businesses. Mainland online marketing strategies are diverse and multifaceted. Beyond live-streaming, there are numerous ways to enhance brand exposure. Ryan Tse, President of the Hong Kong Health Food Association, Director of Vita Green Health Products Co., Ltd., Elijandy, Founder and Director of Cross International Ltd and Jones Ng, Founder of Chiwa Digital Media Capital Group Ltd. shared valuable insights in e-commerce marketing and promotion at the launch ceremony. Artist Samantha Ko Hoi Ling talked about her experiences in live-streaming and online shopping, further enhancing the effectiveness and exposure of the second Hong Kong Shopping Festival. Hong Kong Shopping Festival: Photo Download: Media Enquiries Yuan Tung Financial Relations: Louise Song Tel: (852) 3428 5691 Email: [email protected] Tiffany Leung Tel: (852) 3428 2361 Email: [email protected] HKTDC's Communications & Public Affairs Department: Sharon Ha Tel: (852) 2584 4575 Email: [email protected] Katy Wong Tel: (852) 2584 4524 Email: [email protected] HKTDC Media Room: About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With over 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit:
Associated Press
10-04-2025
- Business
- Associated Press
CPA Australia: Hong Kong SMEs eager to innovate amid tougher financing conditions
HONG KONG SAR - Media OutReach Newswire – 10 April 2025 - CPA Australia's latest Asia-Pacific (APAC) Small Business Survey 2024-25 reveals that the outlook for business growth this year for Hong Kong's small and medium enterprises (SMEs) has slowed, though their hiring intentions remain strong. To combat uncertainties and rising competition, many are focusing on innovation and increasing their investment in artificial intelligence (AI). The annual survey collected views from 4,236 small businesses in 11 markets across the Asia-Pacific region (including Singapore, Mainland China and Australia) to understand their business performance and outlook. The survey included 306 respondents from Hong Kong, with 65 per cent of the businesses surveyed reporting business growth in 2024, a notable rise from 57 per cent in 2023 and the strongest performance since 2017. However, 57 per cent of respondents expect their business to grow in 2025, marking a sharp decline from last year's 69 per cent growth projection. Confidence in Hong Kong's broader economy mirrors this trend, with 68 per cent expecting economic expansion this year, down from 73 per cent in 2024. Mr Cliff Ip, a councillor on CPA Australia's Greater China Divisional Council, said: '2024 was a positive year for most Hong Kong SMEs, thanks to an improving economy and various government support measures. However, this year, many SMEs are facing multiple challenges, including economic pressures, tightening financing conditions and increased market competition. As a result, business sentiment has become more cautious. 'Some sectors are still adapting to changes in consumer behaviour, such as the rise in online shopping and spending outside of Hong Kong. For SMEs to achieve sustainable development, it's important to adopt a more proactive approach in embracing these trends.' To remain competitive, Hong Kong SMEs are keen to innovate and expand into overseas markets. In 2025, 94 per cent of respondents intend to innovate their products or services, surpassing their regional counterparts for the second consecutive year. Additionally, 79 per cent expect revenue growth from overseas sales this year, the highest among the markets surveyed. 'It is encouraging to see that many Hong Kong SMEs are looking to grow their business through alternative sources, such as overseas sales. They should actively leverage government support programs such as E-commerce Express and SME Export Marketing Fund to accelerate business transformation. Meanwhile, given heightened geopolitical risks, SMEs need to stay alert to the risks and opportunities from policy changes, such as tariffs,' Mr Ip said. The challenging financing conditions are noteworthy. In 2024, over 80 per cent of Hong Kong's small businesses required external finance. However, 37 per cent found it difficult to access funds, up from 8 per cent in 2023. Additionally, the number of small businesses struggling to repay their debts rose from 9 per cent in 2023 to 22 per cent in 2024. The financing and solvency issues are likely to persist this year. In 2025, 40 per cent anticipate difficulty accessing finance, while 26 per cent expect they may struggle to repay debts. 'While banks remain the main source of external funding, many SMEs used their personal resources last year, marking a five-fold surge from 2023, due to tightened lending requirements. We therefore welcome the measures, announced this week by the Hong Kong Monetary Authority (HKMA) and the banking sector, to support SMEs obtain bank financing. To further assist SMEs in managing their liquidity needs, we suggest the Hong Kong government and financial institutions extend the Pre-approved Principal Payment Holiday Scheme for 12 months,' Mr Ip said. 'To sustain growth, SMEs should continuously innovate to stay competitive, closely monitor their cash flow, focus on high-growth business opportunities, diversify revenue streams, and seek professional advice on cost-saving measures. These strategies will help businesses navigate economic uncertainties and strengthen their long-term competitiveness.' Employment trends in the SME sector remain strong. Last year, 42 per cent reported an increase in headcount, and 51 per cent expect to hire new staff this year. The survey also highlights robust technology adoption among Hong Kong's small businesses. In 2024, 80 per cent sold online, 83 per cent offer digital payment options and 95 per cent leverage social media. Notably, 41 per cent reported making a major investment in AI last year, marking it as a significant investment among other technologies. Another 26 per cent sought advice from AI tools. Mr Davy Leung, Deputy Chairperson of CPA Australia's Small and Medium Enterprises Committee – Greater China, said: 'Hong Kong SMEs are facing labour shortages and talent competition issues, especially because many business owners are keen on hiring. This might be prompting them to invest heavily in advanced technologies such as AI and conversational platforms to interact with potential customers, improving efficiency and saving costs. 'It's interesting that AI tools have become a popular source of advice for many SMEs in Hong Kong. There are pros and cons of consulting AI on doing business. While leveraging advanced technologies like AI reflects a positive attitude and open mindset towards trying new methods, it also increases cyber risks. Additionally, SMEs should not rely solely on AI and should seek advice from reliable professionals, especially on technical issues such as financing and taxation. 'Last year, 72 per cent of SMEs suffered financial or operational losses due to cyberattacks, ranking highest among all markets. This highlights urgent cybersecurity gaps that must be addressed. To safeguard SMEs from escalating cyber threats, the government should strengthen support programs by providing more funding for cybersecurity investments, offering practical training on cyber risk management, and enhancing information-sharing platforms.' The issuer is solely responsible for the content of this announcement. About CPA Australia
