Online sales sector needs to be strengthened: FS

Finance Minister Paul Chan said on Sunday that Hong Kong should strengthen its online sales sector.

Chan wrote on his blog that online retail sales increased by nearly 60 percent between 2020 and 2023, reaching a total of HK$32.5 billion.

Despite the growth, Chan noted that online sales in Hong Kong account for just eight percent of total retail sales, lower than the 28 percent recorded on the mainland.

The Finance Minister said the government is supporting local small and medium-sized enterprises to expand their business opportunities by increasing their popularity on online platforms in the mainland and gaining a better understanding of the online sales market in the rest of the country.

Chan also said the Trade Development Council will host the first Hong Kong Shopping Festival next month, to help local enterprises enter the Chinese market and revitalize Hong Kong brands.

During the event, more than 230 brands will have the opportunity to showcase their products, ranging from food to cosmetics, on online sales platforms in the mainland.

Chan said that there were three large-scale exhibitions at the local level: the book fair, the sports and leisure fair and a snack-themed exhibition. These three exhibitions attracted 760 exhibitors and served as important promotional platforms for businesses in the city.