First Hong Kong e-commerce festival to help city brands expand into mainland China to be held

Financial Secretary Paul Chan Mo-po highlighted in his official blog that there was “considerable room for growth” in the online retail market.

Chan pointed out that although the city’s online retail sales increased by nearly 60 per cent to HK$32.5 billion (US$4.2 billion) between 2020 and 2023, it only accounted for 8 per cent of total retail sales in 2023.

“There is a considerable room for growth when compared to 28 per cent recorded on the mainland in the same year,” he said.

Chan added he hoped the Hong Kong Shopping Festival, to be organised by the Trade Development Council on mainland e-commerce platforms, could help small and medium enterprises boost their profiles and learn more about the market operation across the border.

“It could help Hong Kong small and medium enterprises reach out to new customer segments and expand into the mainland market, injecting new momentum into their business … and further boost the reputation of Hong Kong brands, ” he said.