Expos upgrade set in world-class chase

Henry Siu

The SAR administration is committed to enhancing facilities that will enable the hosting of more world-class conferences and exhibitions in the city, according to Secretary for Commerce and Economic Development Algernon Yau Ying-wah.

Speaking at the four-day Hong Kong Toys and Games Fair opening ceremony, Yau said the conference and exhibition sector has a critical role to play in Hong Kong's commercial development.

Authorities aim to attract larger-scale conferences and exhibitions to the SAR by expanding the Asia-World Expo and redeveloping Wan Chai north to accommodate the sector.

"Hong Kong is more than just a hub for toys and baby products; it has been one of the best places to conduct business for decades," Yau said.

He cited the unique advantages offered by the one country, two systems framework, including a free and open market, a low and straightforward tax regime, world-class financial services and a diverse pool of interdisciplinary professionals.

Yau encouraged global businesses to consider Hong Kong as their choice of destination.

He said that Hong Kong would continue to strengthen its role as a bridge between mainland and international markets, with the focus being on developing the mainland economy.

This includes assisting local enterprises in capitalizing on opportunities presented by both the Guangdong-Hong Kong-Macau Greater Bay Area development and the Belt and Road Initiative.

"I urge you to explore both mainland and overseas markets, leveraging Hong Kong's strategic position," Yau added.

The fair commenced at the Convention and Exhibition Centre yesterday and will run until Thursday.

The event features more than 2,500 exhibitors from 34 countries and regions, along with buyers and suppliers from 40 countries.

This year's exhibition showcases 40 percent more brands than last year, with more than 380 renowned toys, baby, and children's brands in the stands. The event also chalked up a high in the number of exhibitors - 660.

A representative from an electronic toy company said that participation in the fair has facilitated its entry into new markets, including Japan, South Korea, Russia and various eastern European countries.

The number of clients from these markets grew by 40 percent last year, whereas the company previously catered mostly to European and American buyers.

Another exhibitor, specializing in remote-controlled cars, said that its products, which are primarily mid-to-high-end, aim to attract more European and American buyers through the toy fair.

The exhibitor added that its use of eco-friendly materials is expected to enhance the appeal of its products in the European and the United States markets as they have stringent safety and environmental standards.