The inaugural Summer Sourcing Show for gifts, houseware and toys opened in Hong Kong on Tuesday presentsan unrivaled opportunity for buyers to meet with over 1,300 companies coming from 19 countries and regions.

At the opening ceremony, Christopher Cheng, Council Member of the organizer, Hong Kong Trade Development Council (HKTDC), said, "Shorter product life cycles and smaller inventories have compelled buyers to source more frequently. With more efficient production and logistics, buyers are able to place orders in Hong Kong in July, confident that they can take delivery in time for Christmas."

Cheng said, "This new July show offers another round of valuable sourcing opportunities to worldwide buyers, particularly in regard to burgeoning prospects in the Chinese mainland presented by the Closer Economic Partnership Arrangement."

Over half of the exhibitors are making their first appearance at the July show this year. Buyers can meet many new enterprises showing a full palette of houseware, gifts and toys categories.

A total of 60 missions representing more than 1,700 companies or 2,700 buyers coming from the United States, Europe, Japan, Asia-Pacific and the Chinese mainland have registered to visit the show.

For the first time, the annual Hong Kong Licensing Show also ties in with this fair. Featuring 200 brand names and properties, the fair will run from July 6 to 8 instead of its usual time in late April.

In addition to the Regional Licensing Conference running alongside the fair, the first Annual Premier Asian Licensing Awards will be presented to recognize those with outstanding licensing programs, products and licensing agencies active in the Asian market.

In 2003, Hong Kong's total exports of gift items and premiums grew by 3 percent and were valued at almost 20 billion US dollars,with the United States continuing to be Hong Kong's biggest market,followed by Japan and Britain.

Total exports of household goods also grew by 6 percent to a total value of around 20 billion US dollars. Exports to the mainland surged by 67 percent.

Toys showed modest growth in 2003, with exports worth around 10billion US dollars.

Source: Xinhua