Latest news with #HongKongShoppingFestival
RTHK
7 days ago
- Business
- RTHK
'Shopping festival can help boost silver consumption'
'Shopping festival can help boost silver consumption' Commerce chief Algernon Yau says a shopping festival in the city will be a good chance for retailers to grasp the silver economy. Photo: RTHK Annie Yau Tse says retailers must embrace new technology to break through the extreme challenges facing the industry. Photo: RTHK Secretary for Commerce and Economic Development Algernon Yau on Wednesday called on retailers to take the opportunity of a shopping festival later this year to boost consumption for silver-haired residents. His remark came after authorities last week rolled out 30 measures to tap into the "silver economy" to spur growth, of which half were related to boosting consumption for senior residents. Speaking at the Hong Kong Retail Summit 2025, Yau said the third edition of the Hong Kong Shopping Festival in the third quarter will be a good chance to put the measures into practice. "I encourage the business community to take this opportunity to offer exclusive discounts, products, as well as a combination of services for the elderly, to create a pleasant silver consumption atmosphere in the market, and to attract more silver-haired consumers," he told summit participants, many of them retail professionals. "I also hope that retailers such as supermarkets, department stores, pharmacies and personal care stores will classify the products clearly and concisely at their physical stores, and to place some common and popular silver products at places that are easy to access, so as to enhance the consumption experiences for them and their families and caregivers," he added. The commerce chief also said the government will ramp up certifications for relevant products and services to ensure their reliability. Echoing Yau, Annie Yau Tse, chairwomen of the Hong Kong Retail Management Association (HKRMA), said local retailers must embrace new technology and channels to break through the extreme challenges facing the sector. "New retail must embrace the artificial intelligence and innovative technologies, attach importance to the consumer experience, and seize the development opportunities in different fields, such as the mega event economy, low-altitude economy and silver economy, to break through the limitations of our Hong Kong retailers and open a new chapter," she said. "Hong Kong brands still have unique advantages, and we can look around and explore new markets, such as first establishing themselves in the Greater Bay Area market, before tapping into markets of other provinces and cities on the mainland." The retail veteran's remarks came as the city's retail sales fell for the 14th month in a row, dropping by 2.3 percent year on year last month to HK$28.9 billion, as changing consumption patterns continued to weigh on the industry. Yau Tse earlier estimated that the sector will see flat growth for this year, saying she hopes the April data "reached a bottom" and that the industry will stabilise in the coming months.
Associated Press
27-02-2025
- Business
- Associated Press
HKTDC welcomes Hong Kong SAR's 2025-26 Budget
New Budget Comprehensively Supports SMEs Fostering Sustained Momentum for Hong Kong's Economic and Trade Development HONG KONG - February 27, 2025 ( NEWMEDIAWIRE) - The Hong Kong Trade Development Council (HKTDC) welcomes the 2025-26 Budget announced this morning by the Financial Secretary of the Hong Kong Special Administrative Region (HKSAR), Paul Chan. The Budget introduces a series of measures centred around technological innovation to empower industrial development and facilitate the continuous growth of SMEs and start-ups. The measures also help attract diverse sources of investment and promote mega events to comprehensively engage businesses, capital and talent. They also strive to accelerate development of the new quality productive forces to drive high-quality economic growth in Hong Kong. HKTDC Chairman Dr Peter K N Lam believes that the series of measures in the Budget, including the injection of funds into the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund) and the SME Export Marketing Fund, offers concrete support to SMEs amid a challenging economic evnrionment. The Budget also proposes measure that help consolidate Hong Kong's advantages around its 'eight centres' positioning boosting future growth and prosperity. Dr Lam added: 'The Budget mentions initiatives to strengthen assistance for local SMEs to explore the mainland market and increase e-commerce sales. This year, the HKTDC will launch the 'E-commerce Express' in collaboration with major e-commerce platforms and industry experts. Through a series of thematic training seminars and one-on-one advisory services, this initiative aims to enhance Hong Kong businesses' understanding of mainland e-commerce and online platforms, offering comprehensive support for SMEs intending to expand into the mainland e-commerce market. The upcoming second edition of the Hong Kong Shopping Festival in August serves as the flagship event of this initiative, offering Hong Kong businesses hands-on experience using e-commerce platforms to explore the mainland market and enhance the visibility of their products and brands. The HKTDC will work closely with the Trade and Industry Department to enhance mentorship schemes, empowering Hong Kong businesses to effectively leverage mainland e-commerce and online platforms to promote their products.' The Budget also proposes various measures to promote innovation and technology development, with increasing exposure for local tech products being an important component. The HKTDC will launch a thematic pop-up display area to its Hong Kong Design Gallery, as well as at exhibition venues during major exhibitions, to showcase local high-quality and innovative technology products to local and overseas buyers and consumers. The HKTDC will closely collaborate with local education and research institutions to provide more physical product showcases and sales platforms for Hong Kong technology enterprises and start-ups. These partnerships will help Hong Kong research companies build their product brand image, while raising the visibility of Hong Kong brands among local and international buyers. In strengthening Hong Kong's role as a superconnector and super value-adder, the Budget mentions that the Financial Services and the Treasury Bureau, in collaboration with the Office for Attracting Strategic Enterprises (OASES) and the HKTDC, will host the inaugural Hong Kong Global Financial and Industry Summit this year. By leveraging Hong Kong's financial strengths, the new Summit will further enhance international industrial cooperation to attract capital and businesses to Hong Kong. The HKTDC is also enhancing project connections and deal-making promotion at the Belt and Road Summit, focusing on green development and innovative technology, positioning Hong Kong as a commercial hub for Belt and Road. The HKTDC will continue to closely cooperate with the HKSAR Government, actively promoting Hong Kong's advantages to global markets, while attracting international financial and business leaders to explore global market opportunities through the Hong Kong platform. The HKTDC will continue to enhance Hong Kong's competitiveness and international connections. In the 2025-26 fiscal year, the HKTDC will focus on three main areas: Hong Kong's unique position as a resilient and connected global business hub, while strengthening its integration into national development as well as its role as a superconnector and super value-adder; Hong Kong's competitiveness by embracing innovation and sustainable development to support the national new quality productive forces strategy, while seizing opportunities arising from global trends; the next generation of connected and future-ready SMEs and start-ups, while fast-tracking SMEs' digital transformation. Media enquiries
Associated Press
20-02-2025
- Business
- Associated Press
HKTDC Strengthens Local Competitiveness and Global Connections
- Driving innovation, nurturing a new generation of SMEs - reinforcing Hong Kong's role as a resilient international business hub HONG KONG - February 20, 2025 ( NEWMEDIAWIRE) - The Hong Kong Trade Development Council (HKTDC) today announced its work focus for the 2025/26 fiscal year, which aims to strengthen Hong Kong's competitive advantages and intensify efforts to promote Hong Kong as a resilient international business hub. Embracing opportunities arising from global development trends, the HKTDC continues to create new opportunities for Hong Kong businesses. HKTDC Chairman Dr Peter K N Lam said: 'Just two months into 2025, the HKTDC has already held a number of major events, such as the Asian Financial Forum (AFF) in January and three trade fairs, which attracted strong participation from attendees, buyers and exhibitors from around the world, a herald of a year of vibrant business activity. 'Looking ahead, the HKTDC will strengthen Hong Kong's role as a resilient and connected international business hub, intensify efforts to promote our city's advantages to the global business community and promote further integration of Hong Kong into the national development framework, which highlighting Hong Kong's unique role in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). Furthermore, we will drive innovation and sustainable development to enhance Hong Kong's competitiveness, and nurture a new generation of SMEs and start-ups.' In 2024, the HKTDC hosted over 40 large-scale exhibitions and conferences in Hong Kong, attracting buyers, exhibitors and attendees from over 190 countries and regions, further solidifying Hong Kong's position as the premier hub for exhibitions and conferences in Asia. Particularly noteworthy was the increased participation from Mainland China and emerging markets, such as ASEAN and the Middle East, as well as the traditional markets of Europe and North America, with all showing robust growth compared to 2023. In the 2025/26 fiscal year, the HKTDC will intensify efforts to actively promote Hong Kong's advantages and opportunities to Mainland China and the global business community, further solidifying Hong Kong's crucial role as a key global hub for two-way investment and trade. HKTDC's 2025/2026 major work focuses are: 1. Reinforce Hong Kong's unique role as a resilient and connected business hub globally, and strengthen its integration into national development and role as superconnector and super value-adder Strengthen Hong Kong's integration into national development - Stage targeted fundraising salons in Mainland China to entice mainland enterprises to list in Hong Kong; - Organise the second edition of the Hong Kong Shopping Festival in August and launch the E-Commerce Express to help SMEs deepen their understanding of mainland e-commerce and online platforms through a series of specialised training seminars and one-on-one advisory services; - Active participation in mainland fairs, including setting up Hong Kong Image Pavilions at key mainland expos to promote Hong Kong's advantages; organising a Hong Kong Day networking event at the China International Import Expo targeting key buyers and enriching the Style Hong Kong Pavilion offerings at the China International Consumer Products Expo to create more collaboration opportunities. - Organise sectoral outbound missions: 1) A GoGBA mission to Dongguan will be organised to help SMEs in the food processing and medical devices sectors to stay competitive amid an evolving manufacturing landscape with innovative technologies; 2) An e-tailing mission to e-commerce hotspot Zhejiang to help SMEs understand the latest developments; and 3) A Fashion Go Places mission to Guangzhou and Dongguan to connect Hong Kong fashion industry players with partners in fashion tech and beyond. Reinforce Hong Kong's role as superconnector and super value-adder - Build partnerships with Regional Comprehensive Economic Partnership (RCEP) government agencies and industry multipliers to attract more RCEP businesses to leverage HKTDC trade fairs to connect with international buyers; - Launch the Hong Kong Risk Management Squad to help mainland and ASEAN companies with plans for global expansion to mitigate business risks; - Introduce the ASEAN Lifestyle Pioneer Series to increase SMEs' market exposure in the region and facilitate opportunities; - Stage Think Business, Think Hong Kong campaign in Italy to spotlight Hong Kong's strengths and advantages, including its service offerings; and - Organise missions, including to: 1) ASEAN to explore opportunities in the food and health supplement industry; and 2) Saudi Arabia and the United Arab Emirates with an Infrastructure Development and Real Estate-related Services (IRES) delegation to capture opportunities arising from infrastructure expansion in the Middle East. 2. Fortify Hong Kong's competitiveness by embracing innovation and sustainable development, to support the national new quality productive forces strategy, and seize opportunities arising from global trends Support the national new quality productive forces strategy - Strengthen the content of and recruitment for exhibitions and conferences: 1) Establish InnoEX as an international I&T exchange platform for Asia; 2) Recruit more agritech and foodtech firms sought after by investors, to join AFF Deal-making; 3) Explore collaboration with local research centres to coorganise thematic sessions at the Asia Summit on Global Health (ASGH) to facilitate industry collaboration; 4) Collaborate with Hong Kong Baptist University's Chinese Medicine Hospital and Belt & Road Alliance for Traditional Chinese Medicine at ASGH to examine Hong Kong's role in Traditional Chinese Medicine's globalisation; 5) Explore opportunities in the low-altitude economy at the Asian Logistics, Maritime and Aviation Conference (ALMAC) and InnoEX; 6) Launch the SmartHK Tech Series to showcase Hong Kong's I&T strengths across the GBA and at mainland I&T fairs; and 7) Focus on PropTech for Building for the Future campaign, especially in the mainland, to highlight Hong Kong's strengths in PropTech and smart city development. - Strengthen connections and collaboration with InnoHK, the Innovation and Technology Commission cluster: 1) Strengthen ties with the Health@InnoHK cluster to better understand their business matching needs and facilitate connections with relevant business partners and investors; 2) Partner with InnoHK research centres, local universities and incubators for the International Trade Fastpass SmartBiz Series to highlight the benefits of adopting innovative tech solutions. Seize opportunities arising from global trends - Sustainable development: 1) Launch the Hong Kong Green Team to highlight Hong Kong's green strengths and capabilities in Hong Kong and ASEAN; 2) Invite sustainable fashion brands to promote circular fashion and a greener industry at CENTRESTAGE; and 3) Work with ESG-related multipliers to provide sustainability workshops and ESG certification courses for Transformation Sandbox (T-box) members. Medical health and the silver economy: 1) Organise biotech missions to Europe and the US in partnership with industry multipliers to help start-ups grow and transform; 2) Invite partners and investors with expertise in geriatric medicine and elderly care to introduce ageing-related innovations at ASGH to facilitate collaboration and tech commercialisation; 3) Enhance the product line-up at Food Expo to showcase healthy food and supplements targeting the silver market; and 4) Create a thematic cluster on Sourcing to further highlight Optical Fair exhibitors targeting the silver market. - Islamic business opportunities: 1) Collaborate with the Incorporated Trustees of the Islamic Community Fund of Hong Kong to feature local halal food manufacturers at Food Expo PRO; 2) Strengthen participation of pavilions of countries with a large halal market to enrich the variety of halal products at Food Expo PRO. 3. Build the next generation of connected and future-ready SMEs and start-ups, and fast-track SMEs' digital transformation Build the next generation of connected and future-ready SMEs and start-ups - Talent matching: Leverage events, such as InnoEX and Entrepreneur Day (E-Day), to offer talent matching sessions for start-ups and I&T companies. - Strengthen collaboration with institutions: 1) Partner with the Hong Kong Productivity Council to inform Global Tech Summit participants about the latest tech in Industry 4.0 and showcase related solutions at E-Day to help SMEs, start-ups become future-ready; 2) Partner with academic institutions and youth and community organisations to engage young individuals at our fairs to equip them with the knowledge and skills in digital transformation and sustainability; 3) Launch the CV Clinic at the Education & Careers Expo by partnering with recruitment agencies to help the younger generation with their job search; and 4) Collaborate with local universities to leverage ASGH for their entrepreneurship events and as a showcase for their biomed projects. Fast-track SMEs' digital transformation - Debut an AI productivity workshop series at InnoEX to help SMEs harness the power of AI tools to boost productivity; - Host dedicated sessions at MarketingPulse and eTailingPulse to educate brands on short video features on the mainland's social media platforms; - Collaborate with leading AI service providers to provide T-box members with practical AI applications. Media enquiries
