With the rise of the global cultural and creative industry in recent years, Hong Kong could leverage the multi-billion-dollar market to enrich local brands for developing the economy, Financial Secretary Paul Chan Mo-po in his weekly Sunday blog.

“In this global cultural and creative boom, several local artists and designers have become outstanding leaders,” he said. “Enlightened by the local anime culture and international design elements, Hong Kong artists have created many of the art toys and characters that are unique and popular in Hong Kong, on the Chinese mainland and even in Asia.”  

Chan said intellectual property with Hong Kong characteristics have created billions of Hong Kong dollars in value, and built a new benchmark for the cultural and creative sector. “In collaborating with world-class brands, these products immediately attract a rush of buyers every time a new series is launched.”

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Besides those cultural IP designs, the cultural and creative business also has visual or performing arts, sports and natural experiences, such as this year’s Standard Chartered Hong Kong Marathon, Art Basel Hong Kong 2025 and many mega events to be held at Kai Tak Sports Park after it opens in March this year .

The finance chief said various activities have created active exchanges and a collision of culture and ideas that are also an essential composition of local brands. “These events integrate East and West, the ancient and modern, the fast and the slow, the new and the old, and have created a unique culture and atmosphere in the international and diversified city.”  

“It can be seen that Hong Kong brands are not only products and services, but also a unique experience that demonstrates the value of diversity and inclusiveness, while promoting cultural exchanges and mutual learning.”

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From another perspective, Chan said Hong Kong brands could also be a platform for promoting the cultural and creative industry, as local designers and creators have a broad vision and understand the mainland’s culture and needs, as well as the Asian and international markets.

“With Hong Kong’s convenient links with the vast Chinese mainland and world markets, as long as designers could create unique, personalized IP products that resonate with the public, they’ll have the opportunity to find their own market.”

The Hong Kong Special Administrative Region government and the industry will jointly host more industry events and cultivate talents.

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The CreateSmart Initiative has been providing funds for cultural and creative projects with industrialization potential and assisting in their promotion, as well as events like Hong Kong Fashion Fest and the Business of Design Week, that are platforms for talents and practitioners to broaden their visions and exchange ideas.

Contact the writer at thor_wu@chinadailyhk.com