8 Jan 2002
2002 A Better Year for Hong Kong Toy Exports
|Picture shows (left to right) the Trade Development Council's (TDC) Deputy Executive Director Mr. Frederick Lam, Secretary of Treasury, Miss Denise Yue and TDC's Toys Advisory Committee Chairman, Mr. Edmund Young checking out an electronic pet at the toys fair.|
|An exhibitor from Germany presenting a puzzle featuring Hong Kong skyline to (left to right) the Trade Development Council's (TDC) Deputy Executive Director Mr. Frederick Lam, Secretary of Treasury, Miss Denise Yue and TDC's Toys Advisory Committee Chairman, Mr. Edmund Young at the toys fair.|
|Buyers from around the world joined (second third from left) the Trade Development Council's (TDC) Deputy Executive Director Mr. Frederick Lam, Secretary of Treasury, Miss Denise Yue and TDC’s Toys Advisory Committee Chairman, Mr. Edmund Young at the opening ceremony of the toys fair.|
2002 will be a better year for Hong Kong toy exports, said Chairman of the Trade Development Council's Toys Advisory Committee, Mr. Edmund Young.
"The 911 attacks in the US have inevitably exacerbated the consumer confidence in the short run, but with the negative impact gradually subsiding and the US economic growth expected to recover by mid 2002, the world trading environment will hopefully be improved."
Speaking at the opening of the Hong Kong Toys and Games Fair 2002 today (January 8), Mr. Young said the growing opportunities in domestic sales in the Chinese mainland resulting from China's WTO entry will further benefit Hong Kong toy manufacturers.
"For those with production facilities in the mainland should take note of these developments so as to brace themselves for the opportunities arising from full trading and distribution rights, " added Mr. Young.
The fair organised by the Trade Development Council (TDC) with over 1,600 exhibitors from 31 countries and regions maintains its leading status as the biggest of its kind in Asia and the third largest in the world. Participation from overseas exhibitors increased by near to 9%. The TDC also invites 27 buying missions from 16 countries and regions
Exhibitors are categorised into educational toys and games, battery-operated electronic toys, baby toys, die cast/mechanical toys and action figures, party items/toy parts and accessories, multiple products, outdoor and sporting items, soft toys and dolls.
To encourage more local small and medium-sized firms to use the fair as a cost-effective export marketing tool, Mr. Young said the TDC has reduced participation fees for the fair this year by 12%. He hopes the reduction can provide extra resources to exhibitors for expanding or upgrading their presentations at the fair.
Apart from Hong Kong exhibitors, the fair also attracted eight group pavilions from around the world, including the Chinese mainland, Germany, Italy, Korea, Spain, Taiwan, Thailand and Pakistan. It also has first-time participants from Hungary, Malaysia, the Philippines, Russia, Sweden, Vietnam and Ukraine.
Apart from simply rendering a marketplace to buyers and suppliers, TDC is making continued efforts to offer an information platform to industry practitioners. In collaboration with the Hong Kong Toys Council, a seminar on "International Council of Toy Industries Code of the Business Practices" is organised to update industry players on the development of the programme.
Speakers from Health Canada will also brief players in a seminar on "Hazardous Products Act & Hazardous Products (Toys) Regulations in Canada".
In order to provide industry players an opportunity to better understand the China market, TDC will organise a one-day "Retail Study Tour" to Shenzhen immediately after the last day of the fair.
In order to provide a platform for the exchange of market and product intelligence, the TDC has commissioned ACNielsen to conduct an on-site survey with exhibitors and buyers to identify the latest industry trends. Survey findings will be announced on the last day (January 11) of the fair.
Running concurrently with the toys fair is the Hong Kong International Stationery Fair jointly organized by the TDC and Messe Frankfurt. The fair attracted over 150 exhibitors, featuring a comprehensive array of stationery and printed products.
the first 10 months of 2001, Hong Kong's exports of toys fell by 17%, largely
due to the sluggish global economy. According to TDC's latest report on Christmas
sales in major overseas markets in 2001, a 2% year-on-year increase was recorded.
Given the low inventory level, import demand of major markets is expected to rise
following a pick-up in their economy.
Official Website of the fair: http://www.hktoyfair.com/
Profiles of Hong Kong's Toy Industry: http://www.tdctrade.com/main/industries/t2_2_39.htm
Industry specific Internet portal on toys: http://toys.tdctrade.com/
*****For press enquiries, please contact Lawrence Yau of the TDC's Corporate Communication and Marketing Department at 2584 4510 or email@example.com
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