Hong Kong continues to showcase its strengths in Innovation and Technology (I&T) during the annual spring fairs, including the first-ever InnoEX co-organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), held concurrently with the Hong Kong Electronics Fair (Spring Edition) and Hong Kong International Lighting Fair (Spring Edition).
The three tech fairs that continue throughout April have attracted over 66,000 buyers from 160 countries and regions, including Mainland China, the Association of Southeast Asian Nations (ASEAN), Korea, Taiwan, USA, Japan and India. The overwhelming response and lively exchange of ideas at the events highlighted Hong Kong’s rapid development into an international I&T hub, which connects the world with Mainland China and ASEAN.
The three exhibitions took place in hybrid format, offering access both in-person and online via the HKTDC’s EXHIBITION+ platform, which enables exhibitors and buyers from around the world to continue conducting business online until 22 April. With the Click2Match smart business matching platform, the fairs have facilitated over 3,000 business meetings so far.
Sophia Chong, HKTDC Deputy Executive Director, said, “It is encouraging to see that the three tech fairs brought together nearly 3,000 exhibitors from 20 countries and regions to present a wide range of innovative solutions, cutting-edge technologies and electronic products, to create business opportunities across regions and industries and to explore the unlimited potential of innovation and technology cooperation.”
“We are pleased to see the three tech fairs playing a major role in the innotech ecosystem of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), which attracts the participation of ASEAN and Asia markets, and those further afield in Europe and the Americas. The success of these events reflects Hong Kong’s determination to develop at full speed into an international centre for innovation and technology and reaffirms the status of the city as an international trade and exhibition centre”, she added.
The three tech fairs of the HKTDC featured more than 100 innovative solutions to drive smart city development in Hong Kong presented by the Smart Hong Kong Pavilion, artificial intelligence (AI) and robotics projects undertaken by 14 research laboratories in collaboration with world-renowned universities introduced by the InnoHK initiative under the Innovation and Technology Commission, the latest electronics and smart lighting solutions as well as a series of forums, panel discussions and seminars featuring distinguished experts to share their insights on the latest technological trends.
More than 50 events were held during the fairs, including the InnoEX Forum, Under 30 – Tech Trends Symposium for the Next Generation, Asian Lighting Forum, and the “France in the Game – Sustainable Development for the Cities of Tomorrow” organised by So French So Innovative pavilion, and the “Collaborate & Build Data Ecology between Twin Cities” event organised by the Office of the Government Chief Information Officer (OGCIO) and Shanghai Municipal Commission of Economy and Informatization. Robust discussions on trending topics, such as AI, smart city and metaverse attracted a large number of industry participants.
The majority of the over 1,000 exhibitors and buyers, responding to independent surveys commissioned by the HKTDC at the fairs, held optimistic views on upcoming business and agreed that Hong Kong offers the advantage of connecting the world with the GBA and ASEAN.
According to the survey, 75% of respondents at InnoEX believe that overall sales will increase in the next six months to a year. A total of 86% of respondents expect their overall sales to increase in the next one to two years.
In addition, with the support of policies, many companies are committed to expanding into ASEAN markets. 38% of local exhibitor respondents are trying or planning to expand into the ASEAN countries, while 31% of respondents plan to expand into the GBA and 89% of them were optimistic about opening up their businesses in the GBA market. 21% of respondents plan to expand into other non-GBA Chinese cities.
Among the respondents of the Hong Kong Electronics Fair (Spring Edition) and Hong Kong Lighting Fair (Spring Edition), 58% of the respondents believed that overall sales would increase in the next six months to one year. A total of 72% of respondents expect their overall sales to increase in the next one to two years. In terms of product trends, respondents at the Hong Kong Electronics Fair (Spring Edition) identified household appliances (21%), audio-visual products (21%) and electronic or electrical accessories (20%) as having the greatest growth potential in key sales markets this year.