Hong Kong Business News

Secretary for Commerce & Economic Development Algernon Yau toured a renowned pop cultural entertainment company and its thematic park on the second day of his visit to Beijing today.

The company specialises in popular intellectual property (IP) artistic toys and has successfully commercialised IP in cultural and creative industries with a number of products that have gained popularity both domestically and globally.

Mr Yau also met representatives of the company to learn about its operation and the development of IP products on the Mainland.

Noting that the effective protection and efficient transaction of IP is crucial to the development of cultural and creative industries as well as technological innovation, Mr Yau said the Hong Kong Special Administrative Region Government is taking forward initiatives to protect the fruits of innovation and creativity to promote trading and strengthen training of talent in IP, pressing ahead with the city's development into a regional IP trading centre.

He then met representatives of the China Alcoholic Drinks Association to promote Hong Kong's immense opportunities for wine merchants following the deduction in liquor duty.

The commerce chief said the two-tier system announced in the 2024 Policy Address has effectively promoted high-end liquor trade, with increases recorded in both the quantity and value of liquor imported.

Mr Yau also pointed out that Mainland wine and liquor products, especially Chinese baijiu, are highly regarded in the global market, showing great market potential and room for growth.

He added that Hong Kong could serve as a key hub for trading and distribution of high-end liquor including Chinese baijiu, and Mainland wine merchants are encouraged to use the city as a platform for Chinese baijiu to go global.

Mr Yau will return to Hong Kong tomorrow.