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Hong Kong, Nov 11, 2011 (ACN) - More than 8,000 exhibitors and over 180,000 trade buyers from 168 countries and regions took part in the eight trade fairs held by the Hong Kong Trade Development Council (HKTDC) in October and November. The autumn trade fairs included the Hong Kong Electronics Fair (Autumn Edition), electronicAsia, Hong Kong International Lighting Fair (Autumn Edition), Hong Kong Optical Fair and Hong Kong International Wine & Spirits Fair, which were held at the Hong Kong Convention & Exhibition Centre (HKCEC); and Hong Kong International Building and Decoration Materials & Hardware Fair, Eco Expo Asia and Sports Source Asia, which took place at Asia-World Expo.
Buyers from the mainland and overseas were up 9% year-on-year to more than 110,000. According to HKTDC Deputy Executive Director Benjamin Chau, an exhibition buyer spends, on average, more than HK$10,000 in Hong Kong. "The fairs bring more than HK$1 billion to Hong Kong, not to mention profits from trade orders and related business services," he said.
Chau noted that while the volatile economy in Europe and the United States has affected Hong Kong exporters, there are always new opportunities in crisis. "The thriving emerging markets and growing demand for green products will keep the momentum. In fact, from the buyer attendance and recent survey findings, we can tell that traders are cautiously optimistic about the market outlook," Chau added.
On top of that, the middle class is expanding rapidly in emerging markets, raising demand for quality goods with stylish design. The HKTDC has strengthened promotions in these new markets, inviting more buyers to Hong Kong. Chau said that the HKTDC's autumn fairs recorded significant growth in buyers from the BRIC countries (Brazil, Russia, India and the Chinese mainland). "The eight fairs drew more than 56,000 buyers from BRIC countries, a 19% increase over last year," Chau said.
Cautiously Optimistic
The HKTDC commissioned an independent company to conduct a survey on market prospects and product trends during the fair period. More than 1,300 buyers and exhibitors were interviewed for their views on the electronics and lighting industries, including the impact of the volatile economy in Europe and the United States on Hong Kong exports.
The survey found that in light of the debt crisis in Europe and the US, payment risk is increasing, with more suppliers requesting full payment before delivery. Yet, the impact on sales volume and value has not been significant. Over two-thirds of the interviewed buyers and exhibitors expect a steady or better market outlook in 2012.
Going Green
Almost all interviewed buyers said they were sourcing as much or more environmentally friendly products. And customers are expressing greater demand for green manufacturing. More exhibitors are being asked to obtain eco-certification, implement green manufacturing processes and provide more energy-efficient products and services.
About 90% of the interviewed exhibitors said they have increased their efforts in green manufacturing. More than two-thirds of them will expand their investment in this area, installing energy-saving equipment in their production lines, developing more green products, and purchasing energy-saving equipment for office operations.
Topic: Press release summary
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From the Asia Corporate News Network
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