Hong Kong Commerce and Economic bureau: Encouraging businesses to make good use of platforms to promote and enhance competitiveness, further boosting Hong Kong's retail industry.

On August 1, the Director of the Commerce and Economic Development Bureau, Edward Yau Tang-wah, attended the opening ceremony of the fifth "Trade Fair Shopping Festival" and pointed out in his speech that the development of the retail industry requires the convergence of people, places, and goods. The "Trade Fair Shopping Festival" provides a platform for Hong Kong businesses to promote and sell their products, allowing enterprises to have more opportunities to reach consumers and enhance their brand influence. He encouraged companies to establish their own brands to increase competitiveness, highlight advantages in the challenging market environment, and inject new vitality into the Hong Kong economy. Yau noted that apart from local consumers, tourists are also an important source of foot traffic. Encouragingly, the number of Hong Kong visitors has significantly increased, with the total number of visitors to Hong Kong in the past year rising by 30% to nearly 45 million, and in the first half of this year, there were about 24 million visitors, representing a further 12% increase. This reflects a positive momentum in the recovery of the tourism industry in Hong Kong, bringing more business opportunities to the retail consumption market. The Hong Kong government will continue to play its role as an international travel hub, attracting more tourists to Hong Kong to further boost the retail industry. Furthermore, sales platforms are also crucial. The "Trade Fair Shopping Festival" is a grand event combining food, shopping, and entertainment that has been well-received by both citizens and tourists since its debut in 2021. It not only allows the general public to enjoy shopping pleasures, but also provides a platform for Hong Kong businesses to promote and sell their products, giving enterprises more opportunities to reach consumers and enhance their brand influence. He emphasized that attracting and retaining consumers ultimately depends on the products themselves. The "Trade Fair Shopping Festival" brings together a wide range of products, offering consumers a rich shopping experience, especially as Hong Kong brands have always been trusted and loved by consumers. Meanwhile, over the past two years, the government has actively encouraged the development of e-commerce to expand sales channels. The second "Hong Kong Good Goods Expo" organized by the Hong Kong Trade Development Council has also kicked off today to assist Hong Kong businesses in seizing the rich customer sources and traffic of mainland e-commerce platforms, enhancing the brand and product awareness in the mainland. This year, nearly 260 brands are participating in the event, promoting through discounts, live streaming, and various channels.