The ‘dragon’ boosting consumption sentiment in Hong Kong: Financial secretary

The Lunar New Year markets in all of the city’s 18 districts have seen a surge in footfall. Many of the stalls are run up by high school students, offering a variety of zodiac-themed toys, ornaments, and cultural and creative products relating to the Year of the Dragon.

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People purchase Fai Chun at Tai Kiu Market in Yuen Long on Feb 6, 2024. PHOTO: CHINA DAILY

February 14, 2024

HONG KONG – Various celebratory events being held across Hong Kong during the Lunar New Year holiday have not only cultivated a lively festive ambiance, but also lifted consumer spending, Financial Secretary Paul Chan Mo-po said on Sunday.

The first day of the Year of the Dragon on Saturday evening drew thousands of merrymakers onto the streets with a procession of floats decorated with iconic Hong Kong skyline scenes, featuring Hong Kong Disneyland and Ocean Park in Tsim Sha Tsui, Kowloon.

There were also performances by a strong lineup of international and local teams, including troupes from the Chinese mainland’s Guangxi Zhuang and Xizang autonomous regions, as well as from Germany, Spain and the Philippines. “These wonderful events marked the beginning of an array of celebrations to usher in the Year of the Dragon,” Chan said in his Sunday blog.

The festive events, which have been held for many years in Hong Kong, have become a hallmark of the city, and enabled visitors to enjoy a festive experience with local customs.

Paul Chan Mo-po, Financial Secretary

A 23-minute fireworks display will illuminate the sky above Victoria Harbour tonight, with main cross-boundary ports and the Mass Transit Railway extending their operations to deal with the huge crowds expected. There’ll also be horseracing on Feb 12, as well as the Chinese New Year Cup football match the following day.

“The festive events, which have been held for many years in Hong Kong, have become a hallmark of the city, and enabled visitors to enjoy a festive experience with local customs,” Chan said.

A huge decoration in the form of “red heart” of around 12 meters in diameter will be unveiled at Statue Square in Central on Feb 14, or the first working day after the holidays. “This is poised to become a must-visit attraction on both Valentine’s Day and the Lantern Festival on Feb 24,” he said.

The Lunar New Year markets in all of the city’s 18 districts have seen a surge in footfall. Many of the stalls are run up by high school students, offering a variety of zodiac-themed toys, ornaments, and cultural and creative products relating to the Year of the Dragon, and providing customers with a diverse range of items to choose from.

“The students told me business has been good, indicating that integrating creativity and alignment with market demand is key to successful sales,” the finance chief said.

Sharing his experience of visiting senior citizens at nursing homes and public housing estates on Lunar New Year’s Eve on Feb 9, Chan urged residents to care more for the needy while gathering with family members and friends.

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