Hong Kong to tap into mainland China’s spending power with shopping festivals

Events aimed at helping local companies understand how mainland consumers are using live streaming, instant retail and social commerce

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Consumers shop in Causeway Bay. The finance chief has noted e-shopping accounted for only 8 per cent of retail sales in Hong Kong last year, compared with the mainland’s 28 per cent. Photo: Sam Tsang

Published: 7:14pm, 24 Jul 2024Updated: 10:21pm, 24 Jul 2024

Hong Kong’s leading trade organisations are holding two shopping festivals highlighting local brands in the hopes of sparking a spending spree by taking advantage of Beijing’s new measures to support local tourism.

The Hong Kong Trade Development Council and the Chinese Manufacturers’ Association unveiled their retail fiestas on several mainland Chinese e-commerce and social media platforms, including Xiaohongshu, Douyin, Taobao and JD.com, as well as at the AsiaWorld-Expo near the airport, on Wednesday.

Financial Secretary Paul Chan Mo-po said the council’s online fair would capitalise on the city’s “advantage” arising from the vast mainland market and help Hong Kong’s small- and medium-sized businesses reach new customers.

“The Hong Kong Shopping Festival can help different Hong Kong products tap into the mainland market more extensively and make Hong Kong brands shine,” he added.

Stephen Liang, the council’s assistant executive director, said the digital fair, to be held between August 1 and 31, would help local companies familiarise themselves with the mainland’s business culture and marketing channels.

“The mainland market has been developing in leaps and bounds, particularly the thriving e-commerce landscape,” he said.