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Steady Growth with Positive Outlook

Recently, there has been a particularly festive atmosphere in Hong Kong. The back-to-back celebrations of the National Day and the Mid-Autumn Festival have brought vibrant energy to the city, with dazzling fireworks displays, lantern carnivals and an array of special events in various districts. The upbeat sentiment has been further boosted by a robust stock market and a notable increase in visitors from both the Mainland and overseas. The first four days of the Golden Week saw Mainland visitors to Hong Kong reach 877,000, an increase of over 7% compared to last year, while the number of non-Mainland visitors amounted to around 126,000, marking a year-on-year growth of over 30%.

When planning their holiday itineraries, both locals and visitors are drawn to unique attractions that tell a story, offering them a deeper understanding of the city, as well as its history and culture. During these explorations, they often gain new perspectives and even delightful surprises about Hong Kong.

A few days ago, I explored a trending short walking route through Central and Sheung Wan, an itinerary popular with both locals and visitors. The route combines elements of Hong Kong’s development history, local culture and festive charm. Together with its accessibility and convenience, the route is an ideal choice for a “city walk”.

The Hong Kong Museum of Medical Sciences on Caine Lane has gained considerable popularity in recent years. Its series of IP plushies are particularly popular among visitors.

The exhibitions at the Hong Kong Museum of Medical Sciences revolve around the development of medical and health sciences in Hong Kong.

The first stop of the “city walk” route was the Hong Kong Museum of Medical Sciences, a popular spot in recent years which showcases the development of medical and health sciences in Hong Kong. An array of its creative IP plushies have also been highly sought after by visitors. I happened to see some visitors buying a number of “Dopamine” plush toys as souvenirs for friends to bring them joy. Others bought several “Fat Cell” to encourage their friends to work harder to stay fit. These souvenirs are probably available only at this particular attraction in Hong Kong.

The museum building is a declared monument carrying deep historical significance. Its exhibits and thematic exhibitions encompass a wealth of knowledge on medical development. Together with the IP plushies, they offer a more engaging and visualised approach to medical education, a subject that is typically more serious. Some visitors told me that they visited the museum specifically for the plushies after seeing recommendations on Xiaohongshu. This demonstrates the powerful synergy in publicity created by combining creative IP products with social media platforms.

The Central and Sheung Wan area, where the East and West meet, is imbued with cultural vibrancy, making it one of the ideal spots for a “city walk”.

Taking a photo with visitors in front of a mural.

Walking downhill from the museum, I stopped by a traditional Chaozhou sticky rice dumpling shop in Sheung Wan, where the staff were busy crafting traditional Chaozhou-style mooncakes. With a history of over 60 years, the shop has bustled with activity in the days leading up to Mid-Autumn Festival. Their commitment to quality, combined with their traditional craftsmanship and a strong human touch, has cultivated a loyal customer base and attracted patronage from both locals and visitors.

From a commitment to quality to IP products, “tradition”, “quality”, “uniqueness” and “innovation” are the keywords driving consumers’ purchasing power.

On the eve of the Mid-Autumn Festival, I visited a traditional pastry shop in Sheung Wan to buy some traditional Chaozhou-style mooncakes.

Traditional handmade Chaozhou-style mooncakes.

According to the provisional figures released recently, the value of total retail sales in August reached $30.3 billion, up by 3.8% year-on-year, exceeding market expectations. This marks the fourth consecutive month of positive growth and the largest increase in 20 months. Supported by a stabilising local property market, a buoyant stock market, increasing visitor arrivals and more, Hong Kong’s retail sector is showing signs of steady recovery. Notably, 80% of surveyed businesses expect a sales boost during this year’s National Day Golden Week, with some even anticipating double-digit increases.

Looking ahead, a series of mega events will continue to support the economic momentum in the remainder of the year. These include the Tai Hang Fire Dragon Dance during the Mid-Autumn Festival, the Hong Kong Wine & Dine Festival to be held later this month with extended opening hours until midnight, the 15th National Games in November, as well as a diverse range of Christmas festivities, all of which are expected to boost foot traffic and consumer spending. Meanwhile, high-profile business events such as the Global Financial Leaders’ Investment Summit and the Hong Kong FinTech Week in November, and the Business of Design Week in December are expected to attract high-spending, high value-added business visitors. These occasions will bring significant benefits to the local retail, catering and hotel sectors. The Government will continue to work with industry stakeholders to strengthen collaboration and synergy across mega events, with a view to maximising their economic impact.

This year’s Policy Address outlines an array of initiatives to promote the integrated development of "Mega Events + Tourism", including local thematic immersive tours. Relevant bureaux and departments are working at full pace to upgrade Hong Kong’s tourism infrastructure, products and services to bring in more visitors, encouraging them to stay longer and pay repeated visits to the city.

Meanwhile, efforts to attract strategic enterprises and investment will continue, supporting Hong Kong’s economic upgrade and transformation. This week, we will host a signing ceremony for a new batch of strategic enterprises, welcoming over 10 companies to establish or expand their presence in Hong Kong. The group includes three of the world’s top ten pharmaceutical firms, as well as, for the first time, cultural and creative enterprises integrating innovation and technology – a direction set out in this year’s Budget. With their inclusion, the total number of strategic enterprises brought in by the Office for Attracting Strategic Enterprises will exceed 100.

October 5, 2025