The Secretary for Commerce and Economic Development, Algernon Yau, highlighted the rapid rise of e-commerce during a radio program today (March 4).
He noted that e-commerce now accounts for approximately 20% of global trade, with a staggering scale of US$6.2 trillion and double-digit revenue growth.
"This trend, marked by a continuous increase in consumers, has become a significant global phenomenon that cannot be overlooked."
Yau urged Hong Kong businesses to develop e-commerce operations to seize this vast opportunity actively.
He also emphasized that while many local companies have begun to explore the e-commerce field, support is still needed for entering the mainland market. To this end, the Hong Kong Trade Development Council and other government departments have provided a range of information and funding assistance to help businesses expand.
For instance, the Hong Kong Shopping Festival 2024 held last August attracted 230 companies, with 60% reporting business growth and 90% of participants believing the event provided valuable information to aid their business development, according to him.
Yau called on more companies to utilize government resources to gain a deeper understanding of the operational models of the mainland e-commerce market and further explore business opportunities.
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