HKTDC April Fairs Draw 230,000 Buyers, Up Nearly 3 Percent
May 15, 2018
More than 230,000 buyers from 176 countries and regions attended the seven fairs organised by the HKTDC in April, a yearly increase of nearly 3%. 130,000 of these buyers were from mainland Chinese and overseas, an increase of more than 4%, while there were more than 9,000 exhibitors.
Business sentiment at the fairs was unaffected by the escalating Sino-US trade dispute of recent weeks. On-site surveys conducted during the fairs found 70% of respondents expected no negative impact on Hong Kong's export performance, while 80% were neutral or optimistic that the 2 nations would resolve their differences.
The seven April fairs were: the Hong Kong International Lighting Fair (Spring Edition), Hong Kong Electronics Fair (Spring Edition), International ICT Expo, Hong Kong Houseware Fair, Hong Kong International Home Textiles and Furnishings Fair, Hong Kong Gifts & Premium Fair, and the Hong Kong International Printing & Packaging Fair, which was jointly organised by the HKTDC and CIEC Exhibition Company (HK) Ltd.
The HKTDC commissioned an independent research agency to conduct on-site surveys during the fairs in April, interviewing more than 2,700 exhibitors and buyers. 67% of respondents in the electronics industry were positive about the developments in innovation and technology in Hong Kong, with financial technologies (FinTech) identified as having the highest potential, followed by smart city and artificial intelligence. The respondents felt that the huge number of relevant professionals (50%), reliable and predictable policy (36%) and business-friendly environment (34%) were Hong Kong's advantages in developing innovation and technology.
HKTDC Deputy Executive Director Benjamin Chau said, "As seen from the survey, innovation and technology are where Hong Kong should go in future. They are not just highlights in the Government's latest Policy Address and Budget, but have become key elements in HKTDC's events. Leveraging on the latest mobile technology, HKTDC provided its e-Badge to buyers at each of the April Fairs, upgrading their Hong Kong fair experience, as the badges were introduced last November and were warmly-received."
In addition, many elements of innovation and technology were added in the Fairs. These included setting the theme of ICT Expo as "Smart City: The Way of the Future" with the debut Smart City zone. Apart from the Office of the Government Chief Information Officer (OGCIO) presenting the Hong Kong Smart City Blueprint, smart solutions were also brought by top technology enterprises from around the world. The Spring Electronics Fair's "Tech Hall" highlighted zones such as "Connected Home" and "Robotics & Unmanned Tech".
The Spring Lighting Fair gathered renowned experts to a seminar on "Artificial Intelligence and Smart Lighting" to discuss the ways that AI could help enhance smart lighting. The Houseware Fair held a seminar on "Connect and Optimise - The Technology & Market Trend in the Building Industry" sharing the latest updates on IoT technology advancement.
The Gifts & Premium Fair featured a "Tech Gifts" zone and held a seminar themed "Top 5 Global Digital Consumer Trends in 2018" to discuss the tech-driven consumer trends that are reshaping commerce. The "Digital Printing & 3D Printing Zone" featured in the Printing & Packaging Fair, together with the concurrent seminar "New Development and Application of Digital Printing", analysed digital printing technology trends for the future.
The HKTDC is committed to enhancing the support services provided at the fairs to generate more business opportunities for exhibitors and buyers. During the April fairs, HKTDC helped connect buyers with exhibitors by arranging one-on-one business matching meetings based on buyers' needs.
Catering to O2O sourcing trends and buyers' growing needs to source in small quantities, HKTDC set up hktdc.com Small Order zones at the Spring Electronics Fair, Houseware Fair and Gifts Fair, featuring a total of over 940 showcases. By scanning a QR code, buyers could receive product information, place orders, settle payments and arrange shipment. During the April fairs, the zones generated more than 60,000 business connections, bridging buyers and suppliers and promoting further cooperation.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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