The Trade Development Council is partnering with seven local exhibition organisers to launch eight new trade fairs from next year. They will be held annually at the AsiaWorld-Expo to open in December at Chek Lap Kok, and the Convention & Exhibition Centre.

Council Assistant Executive Director Benjamin Chau today said the new fairs will provide a marketing platform for more than 2,000 firms in industries and sectors presently underserved by international trade fairs in Hong Kong.

"They will attract an estimated 40,000 to 50,000 buyers from around the world each year, with billions of dollars in spin-off benefits for the local economy," he said.

Trade hub

The initiative will strengthen Hong Kong as Asia's trade fair capital and generate more business for local industries and the city.

Fair themes cover printing and packaging, cars and autoparts, boats and leisure, building materials and construction equipment, furniture, environmental protection products and technologies, textile-garment machinery and technology, and medical and health care.

Before committing to the new fairs and seeking private-sector partners, the council conducted extensive research and consulted the industry.

Mr Chau said the council's research has identified three new Mainland trends, Guangdong in particular, with significant, positive implications for Hong Kong's trade flow.

They are:

* growth of the car and components trade at an annual average of 22.5% from 1995 to 2004, with southern China expanding rapidly as an auto-manufacturing base;

* increased commitment to environmental protection, spending RMB700 billion in the 10th five-year plan, and more in its current 11th five-year plan; and,

* rising demand for healthcare products and services, with spending rising more than 14% from 2000 to 2003, and more than 21% in Guangdong during the same period.

Mainland millionaires

"Burgeoning industry clusters, such as the auto manufacturing in Guangdong, require extensive upstream and downstream support from Hong Kong," Mr Chau said, adding upstream support includes precision manufacturing and the introduction of new technology, while downstream support includes agency, sales and marketing services.

Estimating there are 300,000 Mainland millionaires, Mr Chau said the council is aware they are seeking a higher lifestyle that includes luxury products like cars and boats.

"By working with partners, we will be able to get these fairs off to an even stronger start and create even more opportunities for the small and medium enterprises that drive Hong Kong's external trade," he said.