HKTDC: great potential exists in mainland market

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Last updated at: (Beijing Time) Thursday, October 30, 2003

HKTDC: great potential exists in mainland market

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It is necessary for those Hong Kong companies aiming to enter the mainland market to know better of the latest development there, Chief Economist of Hong Kong Trade Development Council (TDC) Edward Leung said here Wednesday.

Introducing TDC's recent report "The Chinese Mainland Consumer Market," Leung said it is found that there are major developments in mainland consumer market.

The pattern of consumption in the cities have upgraded. In the past, people bought more durable electronic good; but nowadays, downtown consumers consume more leisure goods, he said.

According to a survey made by TDC earlier, 81 percent of mainland middle level consumers are willing to buy goods with better design and higher quality, he said, suggesting a potential market for Hong Kong companies.

Females have become the main buying power. There are 620 million females in mainland, account for 48 percent of the total population. For them, the demand is huge, he noted.

He suggested Hong Kong companies to build up their own brand name and sell products with high class in order to avoid direct competitiveness with mainland products.

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