InvestHK Consumer Products Quarterly Newsletter May 2024

Consumer Products

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Extra BUD Funding Coverage for E-Commerce Projects in Mainland China

Funding and Solution Match for Digital Transformation

The recent Budget commits to launch “E-Commerce Easy”, a new project category within Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund). The initiative provides a matching fund up to HK$1mil per enterprise to implement their e-commerce projects in mainland China, within the cumulative BUD Fund ceiling of HK$7mil. For more information, please refer to
The 2024 – 25 Budget.

The Digital Transformation Support Pilot Programme (DTSPP) supports local F&B and retail SMEs with subsidies up to HK$50,000 on a 1:1 matching basis in applying pre-assessed digital solutions such as digital payment and shop front sales, online promotion, customer management and loyalty solutions. The second batch will open to retail industry with an application timeline TBC. For the latest updates, please see the programme’s official website.

The first phase of the new regulation came into force on 22 April 2024. At a policy briefing cum product showcase organised by InvestHK, speakers from Hong Kong Productivity Council shared top tips when adopting alternative tableware, such as conducting in-house performance tests and to request from suppliers the material test reports (e.g. FTIR analysis) issued by local or international accredited bodies.

Hong Kong Quality Assurance Agency runs a Green Tableware Platform mapping out market offers. Eligible suppliers are encouraged to register to the platform. For more information, please check government’s website on cutting plastics.

Regulating Disposable Plastic Tableware and Other Products

Euromonitor: Hong Kong was the top spender of luxury retail in 2023

Guangdong-Hong Kong-Macao
Three -Places-One-Lock Scheme

A research by Euromonitor finds Hong Kong had the highest per capita spending on luxury retail in 2023, followed by Switzerland and Singapore. The report is projecting a continuous growth with affluent consumers residing in the market, and those visiting, were able to resume spending again. Hong Kong was also the travel destination where by ratio visitors were most willing to spend on shopping, taking up around 46 percent of the total tourism income. For more information, please refer to the report.

Under the Scheme, Guangdong, Hong Kong and Macao Customs conducted real-time monitoring on the batch of transshipment cargo using e-locks and GPS technology, enabling the transportation truck to arrive in Macao directly via the Hong Kong-Zhuhai-Macao Bridge Hong Kong Port and avoiding duplicate inspections by Customs authorities. Please see here for the press release.

Retail Asia Conference & Expo 2024
8 - 10 May, Hong Kong Convention and Exhibition Centre

Retail Asia Conference & Expo (RACE) is an one-stop platform gathering thought leaders in the retail industry to explore cutting-edge ideas and technologies to ride the new wave of consumerism in Asia. The event in total offers more than 100+ educational seminar hours combining with a showcase of 2,000+ products & solutions. Register here.

Hong Kong Retail Summit 2024 – “Retail Revolution for Experiential Shopping”
12 June, Hong Kong Convention and Exhibition Centre

With the overarching theme “Retail Revolution for Experiential Shopping”, this year’s event will provide insights into the possible cross-sectoral collaboration in fueling the rapidly evolving developments of the retail industry. There will be around 20 speakers and facilitators of C-level from a wide range of expertise in the retail business. Over 500 guests, including SMEs, entrepreneurs, corporate leaders and senior executives from a diverse background of retail and related sectors are expected to join the event. Register here.

Jewellery & Gem Asia Hong Kong
20 – 23 June, Hong Kong Convention and Exhibition Centre

Jewellery & Gem ASIA Hong Kong (JGA) stands as the unmatched mid-year B2B sourcing event in Asia. With dedicated marketplaces designed to cater to trade buyers, JGA encompasses the entire spectrum of jewellery and gemstones. Its offerings include an extensive selection of finished jewellery and loose precious materials, such as diamonds, coloured gemstones and pearls. These products span a diverse spectrum of styles, qualities and price points, ensuring there is something to suit the preferences of every buyer. Furthermore, the event serves as a platform to showcase the latest equipment & tools, packaging solutions and technological advancements in the industry. For more information, please check here.