27 April 2015
Worth over Rmb750 billion annually, a major share of the Chinese mainland gift market is taken by wearable tech.
The Chinese mainland's gift economy has an annual turnover of Rmb768.4 billion, representing two per cent of China's GDP, according to the latest figures from the National Bureau of Statistics. This figure includes individual gift spending worth Rmb505.5 billion, along with corporate demand, including organisations and work units, worth Rmb262.9 billion.
The Central Government austerity measures, aimed at curbing excessive spending by public officials, has inevitably led to a spending decline in the corporate gifts sector. As compensation however, there are signs of an increased spend in terms of individual gift-giving. For personal gifts, the most popular items are cigarettes, alcohol and nutritional supplements, as well as books and handicrafts. Digital products, notably mobile phones and computers, are also in-demand gift choices. Increasingly, gift items are chosen both for their practicality and appeal to contemporary tastes and fashions.
Read the complete article in Hong Kong Means Business.
At a reception in Innovation Norway recently the very ambitious plans for a Nordic Trade Centre based in Qianhai, on the border to Hong Kong were presented by a delegation from Shenzhen.
Please see the enclosed link to the presentation.
Contact person for the project is: Mr.
31 March 2015
High-value services at good prices are at the heart of Hong Kong’s business success, says the chief economist of Hong Kong’s chamber of commerce.
Hong Kong’s 2015-16 Budget, unveiled by Financial Secretary John Tsang last month, earmarked investment for the city’s start-up ecosystem, creative industries and promoting social enterprise. There were also measures to boost Hong Kong’s competitiveness, which the Hong Kong business community welcomed.
David O’Rear, Chief Economist of the Hong Kong General Chamber of Commerce, highlights some of the key business initiatives, and urges the government to do more to lower business costs.
Read the complete interview in Hong Kong Means Business
In his 2015-16 Budget today (February 25), the Hong Kong Financial Secretary, Mr John C Tsang, pledged to explore new ideas and strive for diversity to help Hong Kong people realise their aspirations and to reinforce the foundation for long-term economic development.
On the economy, Mr Tsang reported that Hong Kong's economy grew by 2.3 per cent in 2014 and is forecast to grow by 1 to 3 per cent in 2015.
Merchandise exports grew by 1 per cent with service exports growing by 0.5 per cent in real terms in 2014. Unemployment averaged 3.2 per cent for the year as a whole, sustaining a state of full employment. Headline inflation eased to 4.4 per cent in 2014. Mr Tsang forecast headline inflation of 3.5 per cent for 2015.
He estimated fiscal reserves to reach HK$856.3 billion by the end of March 2016, representing 36.8 per cent of GDP and equivalent to 23 months of government expenditure.
Read the whole article HERE.
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