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Accelerating Transformation with a Positive Outlook

The 59th Hong Kong Brands and Products Expo, an annual event organised by the Chinese Manufacturers’ Association, kicked off yesterday at Victoria Park. Featuring 12 themed zones and a total of 900 booths, the Expo attracted a large crowd of local residents and visitors from the Greater Bay Area. For many, attending the Expo has become a yearly tradition. Families and friends often visit together to enjoy the wide variety of food and shop for new products. Shoppers come prepared with trolleys, stocking up on goods and festive treats in anticipation of the upcoming Chinese New Year.

I also visited the Expo at Victoria Park yesterday, where I purchased health food, local snacks, products from social enterprises and smart home appliances—many of which were from Hong Kong brands. It was clear that many exhibitors are placing greater emphasis on product innovation and technological applications. Some cooked food vendors introduced snacks with new and creative flavours, offering visitors a refreshing culinary experience. Meanwhile, several local companies showcased upgraded smart home appliances and electronic products, including those equipped with sensing technology that monitors environmental data and automatically adjusts their operating modes – making household tasks more efficient. These innovative products and technologies are sparking consumer interest and driving sales.

Yesterday I visited the 59th Hong Kong Brands and Products Expo at Victoria Park, where I engaged with exhibitors and members of the public while supporting local consumption through shopping.

For years, we have emphasised the importance of brand building as a key driver of high value-added development. A strong brand reflects a commitment to quality and value, encouraging customers to pay a premium for superior products, services and experiences. This is especially crucial in the “AI+” era, where there is growing demand for smarter, more innovative products. Indeed, technology not only enables new design possibilities but also expands the scope of applications. Manufacturers that can align with emerging technological trends – by developing cutting-edge products, strengthening brand identity and improving operational efficiency – and leverage the unique strengths of “Hong Kong Design” and “Made in Hong Kong”, can unlock greater business potential and open up new avenues for growth. These efforts also contribute to the development of new quality productive forces, supporting the broader goal of high-quality development.

Recent data indicates that Hong Kong’s exports of goods have experienced double-digit year-on-year growth since the beginning of this year. The domestic demand has improved, with a moderate uptick in private consumption. The retail, catering and residential property markets have stabilised, while business investment has also risen. Together, these factors have contributed to the steady expansion of Hong Kong’s economy, despite ongoing external uncertainties. In the first three quarters of the year, the economy grew by 3.3% year-on-year, and the full-year growth forecast has recently been revised upward to 3.2%.

Yesterday I visited the 59th Hong Kong Brands and Products Expo at Victoria Park, where I engaged with exhibitors and members of the public while supporting local consumption through shopping.

Exports of services have also benefited from a vibrant financial market and a post-pandemic high in visitor arrivals. Thanks to the joint efforts of the Government and the industry, Hong Kong welcomed over 45 million visitors in the first 11 months of this year. This figure, marking a 12% year-on-year increase, has already surpassed the total for the whole of last year. Notably, more than 23% of these visitors were from outside the Chinese Mainland, totalling 10.77 million, which represents a 16% rise compared to the same period last year. The increase in visitor numbers has provided additional support to the retail and catering sectors.

With the Christmas and New Year holidays just around the corner, a wide range of festive activities and industry-led promotions are set to create joyful moments for members of the public to enjoy with family and friends and exchange seasonal blessings. These celebrations are also expected to attract more tourists and inject renewed momentum into the consumer market and the broader economy.

Yesterday I visited the 59th Hong Kong Brands and Products Expo at Victoria Park, where I engaged with exhibitors and members of the public while supporting local consumption through shopping.

As Hong Kong’s tourism industry continues to evolve, transform and strengthen, ongoing improvements to related infrastructure are also progressing well and delivering impressive results. Recently, Hong Kong International Airport was named the “World’s Leading Airport for Customer Experience” at the 32nd World Travel Awards, a globally recognised top honour in the industry. According to international market research, Hong Kong currently ranks second worldwide in terms of international visitor arrivals. The city’s unique blend of East and West, vibrant cultural scene, close proximity between urban and rural areas, diverse cuisine catering to all budgets, and excellent law and order are among the many advantages that are gaining increasing international recognition.

Investors and the business community remain optimistic about Hong Kong’s economic prospects, with investment spending gaining momentum. A recent survey by a local chamber of commerce indicates a significant improvement in business confidence among local enterprises. In recent months, financial institutions and major e-commerce platforms have leased or acquired multiple floors of commercial space – or even entire buildings – to expand their presence in Hong Kong, as part of their efforts to tap into both the Mainland and international markets. These developments reflect the market’s positive expectations for the future.

Yesterday I visited the 59th Hong Kong Brands and Products Expo at Victoria Park, where I engaged with exhibitors and members of the public while supporting local consumption through shopping.

Over the years, comprehensive policies promoting innovation and technology (I&T) and economic development have progressively created favourable conditions for Hong Kong’s continued advancement and enhanced our resilience in the face of external challenges. Public consultation for the upcoming Budget is about to begin. Key areas of focus include further expanding the scope of economic development, accelerating the growth and application of I&T, optimising the industrial structure, creating more high-quality employment opportunities, and injecting new momentum into high-quality development. We look forward to receiving concrete and constructive suggestions, as we work together– through collective wisdom and concerted efforts – to build a better future for all.

December 14, 2025