Hong Kong firms swarm CIIE, aiming to expand role in national development plans
Published: Nov 07, 2021 07:43 PM

Visitors at the booths of Hong Kong services industry companies at the CIIE. Photo: Qi Xijia/GT

Visitors at the booths of Hong Kong services industry companies at the CIIE. Photo: Qi Xijia/GT

An increasing number of enterprises from the Hong Kong Special Administrative Region (HKSAR) have swarmed the 4th China International Import Expo (CIIE) this year, eyeing a robust consumption market on the mainland and a new role in the dual circulation national strategy.

This year, the Hong Kong Trade Development Council (HKTDC) sent a delegation of about 60 enterprises to attend the CIIE, an increase of 27 percent from last year, to showcase diversified high-quality products and services from the HKSAR. 

Jacky Chung, an official of the HKTDC, said that the CIIE was a diverse cooperation platform to help Hong Kong businesses effectively expand in the mainland market with fruitful results being achieved in the past three years.

"We hope that through the platform of the CIIE, Hong Kong will play an important role to connect the mainland and the world, bringing Hong Kong's global trade resources, goods and professional services to the mainland market," Chung told the Global Times on Sunday.

Liu Xiaohong, finance manager of Hong Kong health products exhibitor AUSupreme, which has participated in the CIIE for four consecutive years, said that the mainland's consumption market has expanded quickly in the past four years, thanks to e-commerce platforms and livestreaming.

As the annual Double 11 shopping festival, which falls on November 11, will arrive on the heels of the CIIE, Liu has been launching her products and promotional videos on various e-commerce platforms.

"Many e-commerce platforms and apps contacted us for cooperation at the CIIE. In the past, Tmall and were the only options. Now there are so many, like Xiaohongshu and Douyin," Liu said.

"The mainland market is the biggest piece of cake we want, as the consumer market is too big to ignore," she said.

Apart from introducing products and services to the mainland market, the HKSAR also plays an important role in helping mainland enterprises to explore business abroad, Chung said.

Frank Lao, managing director of Galaxy Group, a Hong Kong-based human resources outsourcing company, said that there has been growing demand from mainland companies to set up businesses abroad and recruit talents overseas.

"Twenty years ago, we helped foreign-invested companies to enter the mainland, but now our target is to help mainland companies settle abroad. I believe that this will be the trend in the next 20 years, thanks to growing strength of the country," Lao said.

He noted that mainland investment has taken a large role and is more and more deeply rooted in Hong Kong. "This is a good thing, because it makes Hong Kong a bridge for mainland enterprises to go overseas," Lao said.