Hong Kong is set to host its first e-commerce festival, aiming to boost online retail sales and promote local brands on mainland e-commerce platforms.
The “E-Commerce Easy” initiative is part of the government’s Dedicated Fund on Branding, Upgrading & Domestic Sales (BUD Fund), which supports businesses in expanding their reach.
According to the Trade and Industry Department, the initiative has a cumulative funding ceiling of $1 million, with no individual project caps.
Eligible expenses include:
- Setting up online stores.
- Advertising on third-party platforms.
- Developing mobile apps.
- Adding online payment options to websites.
Funding will be granted on a matching basis, with businesses eligible for an initial payment of up to 75 per cent of the approved amount. However, projects must be completed within 24 months.
The campaign will feature more than 230 brands, including clothing, cosmetics, household goods, food and beverage, digital, and health products.
Financial secretary Paul Chan Mo-po expressed his optimism about the project and said there was “considerable room for growth” in the online retail market.
He said that while the city’s online sales increased by almost 60 per cent to US$4.2 billion (HK$32.5 billion) between 2020 and 2023, it only accounted for 9 per cent of total retail sales last year.
“It could help Hong Kong small and medium enterprises reach out to new customer segments and expand into the mainland market, injecting new momentum into their business and further boosting the reputation of Hong Kong brands,” he concluded.
