Online sales sector needs to be strengthened: FS
Financial Secretary Paul Chan on Sunday said Hong Kong should strengthen its online sales sector.  Writing on his blog, Chan said online retail sales have surged nearly 60 percent between 2020 and 2023, reaching HK$32.5 billion. Despite the growth, Chan noted that online sales in Hong Kong only accounted for eight percent of total retail sales, lower than the 28 percent seen on the mainland. The finance minister said the government was providing support to local small and medium enterprises to expand their business opportunities, by enhancing their popularity on mainland online platforms and gaining a deeper understanding of the online sales market in the rest of the country. Chan also said the Trade Development Council would organise the first Hong Kong Shopping Festival next month, to help local enterprises enter the mainland market and revitalise Hong Kong brands.  Over 230 brands will have the opportunity to showcase their products, ranging from groceries to cosmetic items, on mainland online sales platforms during the event. Locally, Chan said three large-scale exhibitions - the book fair, sports and leisure expo, and a snack-themed exhibition - had attracted 760 exhibitors, serving as important promotion platforms for businesses in the city.