Algernon Yau: HK Government Supports Development of Convention and Exhibition Industry, Current Priority Is to Advance Wan Chai North Redevelopment and AsiaWorld-Expo Expansion Projects

The Hong Kong government is developing the Northern Metropolis, and a lawmaker has raised concerns about promoting the development of the convention and exhibition industry in the Northern Metropolis. Secretary for Commerce and Economic Development Algernon Yau said the government has been supporting the development of the convention and exhibition industry through diversified measures. Regarding the development of the Northern Metropolis, which is industry-led in its planning, the government has reserved land for diversified industries in various new development areas to meet market demand and support the development needs of different industries. The government will take a holistic approach when studying the addition of convention and exhibition facilities, and at this stage, the priority is to advance the Wan Chai North redevelopment and the AsiaWorld-Expo expansion projects. It will continue to maintain communication with major stakeholders to gauge the industry's long-term demand for convention and exhibition facilities. DAB lawmaker Hung Kam-yuen, who raised the question, said the party is conducting a policy study on the exhibition industry and has received feedback from many SMEs and local startup exhibition organizers that the threshold for the government's current convention and exhibition funding schemes is relatively high. He asked whether the government would set up a dedicated funding channel or a flexible approval mechanism for small and medium-sized and startup exhibition companies. Yau said that in addition to attracting more international mega exhibitions and professional exhibitions to be held in Hong Kong, many local SMEs also want to participate in exhibitions to boost sales and meet consumer needs. The government will focus on requiring a balance in the functional positioning of venues to ensure a diversified supply of venues that responds to market needs and covers exhibition activities of different scales and types, so as to consolidate Hong Kong's position as an important convention and exhibition hub.