Free Subscription

  • Access 15 free news articles each month

Professional

Try one month for $5
  • Unlimited access to news,insights and opinions
  • Quarterly and weekly magazines
  • Independent research reports and forecasts
  • Quarterly webinars with industry experts
  • Q&A with retail leaders
  • Career advice
  • Exclusive Masterclass access. Part of Retail Week 2021

Ultimate guide to sourcing + trading with Hong Kong

HK Image 2Hong Kong has traditionally been both a hub and a springboard for international traders to tap the burgeoning Chinese mainland and Asian markets. It is home to a huge number of import and export trading firms which are more than ever active in sourcing various types of goods, especially for consumer and electronics products. So in your next trip to China, you should consider making a stopover in Hong Kong.

According to official statistics released in early 2017, Hong Kong’s merchandise trade in 2016 was estimated to be US$973.9 billion. In comparison, re-exports totalled US$454.5 billion, representing close to 50 per cent of the amount of HK trade.

Graph-advertorial-Hong-Kong-trading

 

Let’s face it, the business environment for Hong Kong’s trading firms is indeed becoming more challenging amid the growing trend toward direct dealing between customers and manufacturers, known as “trade disintermediation”. In response to trade disintermediation, Hong Kong traders adaptively provide more value-added services in addition to finding more competitive sources of supplies. For example, Hong Kong traders help their overseas clients inspect the goods produced by the manufacturers to ensure they meet the procurement standard, and monitor production schedules to meet delivery. Hong Kong traders can also help overseas buyers coordinate production when the buyers have a sudden surge in orders and quick turnaround is needed.

In addition the Belt and Road Initiative (BRI) announced in 2013 by the Chinese central government will certainly create fresh demand for international trade and business opportunities for Hong Kong’s trade sector.

Trade fairs and exhibitions remain the significant and most common places for buyers and suppliers to congregate. To establish connections and explore market opportunities, Hong Kong manufacturers and traders have involved themselves actively in international shows led by the Hong Kong Trade Development Council (the HKTDC), a quasi-government organisation supported by the Hong Kong government.

Being the world’s seventh largest trading economy, Hong Kong has developed into a premier convention and exhibition centre in the region. As a free port with superb air connectivity at the heart of Asia, exhibitors and visitors can come to Hong Kong conveniently, making the city a preferred location in staging international conventions and exhibitions.

The HKTDC organises more than 30 exhibitions a year, five of which are the world’s largest, including Electronics, Jewellery, Gifts, Watches & Clocks and Lighting.

These fairs attracted around 39,000 exhibitors and more than 770,000 buyers in 2016, enhancing the city’s reputation as Asia’s trade fair capital. These trade fairs are also the ideal marketing and sourcing platforms to facilitate trade and business exchange.

Apart from exhibitions, the HKTDC also creates business opportunities and enhances exhibitors-buyers connectivity through different kinds of events such as business matching meetings, buyers’ guided tours, seminars, forums, product launches & parades, media events, networking receptions and so on.

For more information and travel incentives (discounted airfare, travel package) and subsidised hotel bookings, please contact HKTDC Sydney office at 612-9261-8911, sydney.office@hktdc.org. For a list of trade fairs, visit: http://www.hktdc.com/info/trade-events/EX/en/Exhibitions.htm.

About the Author
Cloris Long, marketing manager, Hong Kong Trade Development Council Sydney office
www.hktdc.org
02-8986 2809
cloris.long@hktdc.org
@ClorisLong @HKTDC_Sydney

You have 7 free articles.