HK Economy - Highlight
27 May 2016
A survey of buyers and exhibitors at the HKTDC Hong Kong Gifts & Premium Fair reveals that although Asia remains the driver of growth, overall outlook for 2016 is weak. Buyers predict figurines and decorations the most sought-after category and increasingly appreciate Hong Kong suppliers’ ability to innovate.
While a majority of electronics players expected steady sales for 2016, buyers were generally less optimistic than exhibitors. North America Western Europe and China were seen as the most promising markets. Meanwhile, mobile devices have been usurped by electronic accessories and audio-visual items as the most promising growth products for 2016. Wearable items are also expected to enjoy massive growth, and consumers are now willing to pay a premium for electronic items with smart features.
China’s 13th Five-Year Plan will implement the Made in China 2025 initiative in greater depth, aiming to make the country become a manufacturing powerhouse. This will stimulate China’s demand for advanced technologies. Hong Kong’s extensive technology and professional services can help promote technological cooperation between mainland and foreign enterprises. Hence, Made in China 2025 is set to generate a host of opportunities for Hong Kong’s technology sector and service suppliers.