Uniting the strength of Visa’s trusted infrastructure with HotelRunner’s deep presence in hospitality, this strategic preferred partnership sets the foundation for a new era of embedded finance in travel. By bringing Visa’s products directly into HotelRunner’s platform, this collaboration will enable seamless, secure, and scalable cross-border payments and settlements for thousands of travel businesses worldwide.
HotelRunner, a leading travel and hospitality technology platform, and Visa, a global leader in digital payments, have announced a global strategic preferred partnership to empower businesses of all sizes across the travel and hospitality industry. The collaboration brings together Visa’s trusted global infrastructure and secure cross-border payments capabilities with HotelRunner’s deep presence and extensive reach in hospitality technology. Solving the “last-mile” challenge in tourism and democratizing financial access for small and medium-sized enterprises (SMEs) in emerging markets, HotelRunner is collaborating with Visa to provide robust technology infrastructure and B2B connectivity that enables accommodation providers, from boutique hotels in Morocco to guesthouses in Bali, to get paid quickly and securely across borders.
By uniting their strengths, the two companies aim to accelerate economic growth across the global travel and hospitality ecosystem while delivering seamless, secure, and scalable financial solutions. This partnership sets the foundation for a new era of embedded finance with a specific focus on independent hotels by providing access to global payment rails.
“Travel runs on trust, and trust depends on secure, reliable infrastructure,” said Ali Beklen, Founder and Managing Partner of HotelRunner. “By combining HotelRunner’s global hospitality network with Visa’s unmatched expertise, we are building the autonomous financial infrastructure of travel. This is not only about payments; it is about building the financial rails that will power the next decade of global tourism. We are reshaping the future of cross-border travel commerce, making it safer, smarter, and more inclusive for businesses worldwide.”
On this partnership, Arden Agopyan, Founder and Managing Partner of HotelRunner, said, “HotelRunner has spent more than a decade building the digital backbone of hospitality. For too long, small and independent accommodations and travel agencies have been excluded from global financial flows and the payments economy. Together with Visa, we’re changing that. We’re combining our reach and reliable platform with one of the world’s most trusted networks to create a new standard for autonomous, secure, seamless, and scalable travel payments.”
“Our collaboration with HotelRunner demonstrates how together we can drive innovation across the B2B travel ecosystem. By combining Visa’s trusted global payments network with HotelRunner’s hospitality platform, we’re enabling travel businesses to connect, transact, and grow more seamlessly and securely. Together, we’re helping to unlock new opportunities, and strengthen the global travel ecosystem” Tania Platt, Global Head of B2B Travel, Visa.
Operating globally, this collaboration will bring Visa and HotelRunner together with key travel companies in Europe, APAC, the Middle East, Africa, and beyond. This partnership is set to deliver innovative embedded and autonomous finance services supporting millions of travel businesses worldwide.
Contact Information Suheyla van Taarling Director of Marketing & Growth suheyla@hotelrunner.com
held concurrently with Beauty & Wellness Expo, Home Delights Expo, Food Expo PRO, and ICMCM
– Food Expo, Food Expo PRO, Hong Kong International Tea Fair, Beauty & Wellness Expo, and Home Delights Expo will be held from 14 August at the Hong Kong Convention and Exhibition Centre – Featuring some 1,890 exhibitors, the five exhibitions present global gourmet foods and lifestyle products – The Hong Kong International Tea Fair fully opens to both the public and trade buyers for the first time, promoting tea culture – Five theme days including Shall We Tea (14 August), Flavours of Intangible Cultural Heritage (15 August), Asian Delights (16 August), Body, Mind & Soul (17 August), and Taste of HK (18 August) – offer engaging activities and highlight trending products – To celebrate Food Expo’s 35th edition, there are more than 100 special offers provided by the exhibitors including products priced at HK$35.
Organised by the Hong Kong Trade Development Council (HKTDC), the 35th Food Expo, 9th Beauty & Wellness Expo, and 11th Home Delights Expo will take place from Thursday, 14 to Monday, 18 August 2025 at the Hong Kong Convention and Exhibition Centre (HKCEC) in Wan Chai. Running concurrently, the trade-focused 3rd Food Expo PRO and the 16th Hong Kong International Tea Fair will be held from 14 to 16 August, with the Tea Fair opening to both trade and public visitors for all three days for the first time. Together, these five fairs feature some 1,890 exhibitors, showcasing a diverse global gourmet foods and wines, teas, health and beauty products, and innovative home appliances, providing a one-stop sourcing and shopping experience for trade buyers and the public. Additionally, the International Conference of the Modernization of Chinese Medicine and Health Products (ICMCM), co-organised by the HKTDC, the Modernized Chinese Medicine International Association (MCMIA), and 10 research institutions, will be held on 14 and 15 August, offering industry professionals the latest insights into Chinese medicine.
At today’s pre-event press conference, Sophia Chong, HKTDC Deputy Executive Director, commented: “The 35th Hong Kong Food Expo and its concurrent events are key highlights in Hong Kong’s event calendar. There are five curated theme days across the fairs, each delivering diverse experiences for visitors seeking gourmet delights, wellness, and elevated lifestyles. This year, exhibitors will present a comprehensive line up of products and special deals, complemented by interactive activities and special celebrations for the 35th Food Expo, including lucky draws and engaging games with prizes. These initiatives aim to create a memorable experience for visitors and stimulate local consumption.”
The five fairs bring together exhibitors from 35 countries and regions, including first-time participants such as Brazil, Mongolia and Zimbabwe, and representatives from nine ASEAN countries highlighting diverse culinary cultures. With 45 regional pavilions – an increase from last year – the events showcase an extensive international presence, featuring provinces from Mainland China, as well as Macao, Japan, Kenya, Korea, Thailand, the Philippines, Poland, Sri Lanka and Vietnam.
Food Expo PRO and Tea Fair Showcase Diverse Products – Halal Food, and Food Science and Coffee in Focus (14-16 August) The 3rd Food Expo PRO opens exclusively to trade buyers for the first two days, with both public and buyers welcome on the final day (16 August). Global exhibitors present premium food products, services, and technologies, highlighted by the new “Coffee Zone”, featuring coffee products, accessories, and machines from various countries and regions. Mainland China’s leading coffee bean producer, Yunnan Province, presents enterprises from Pu’er City showcasing Kunlu Mountain and Jinpaoshan roasted beans, alongside other specialty products. On 16 August, the Hong Kong Specialty Coffee Association hosts a coffee cupping competition, challenging professional baristas’ taste and smell, fostering exchange among coffee enthusiasts.
Building on last year’s introduction of halal food and beverage label, Food Expo PRO and Food Expo feature more than 120 exhibitors from Mainland China, Japan, Korea, Thailand, the Philippines, Vietnam and beyond, showcasing premium halal products and strengthening Hong Kong’s position as an international food hub. A seminar on the halal food market will feature Kowloon Shangri-La, the first Hong Kong hotel to earn a Level 5 Muslim-Friendly Accommodation Certification from Crescent Rating, alongside experts discussing opportunities in the halal industry and promoting Hong Kong as a Muslim-friendly destination. In partnership with the Islamic Trust Fund of Hong Kong, the city’s recognised halal certification body, halal certification certificates will be awarded to local restaurants during the event, supporting businesses in tapping into the Islamic market.
The “Food Science and Technology” zone highlights health-focused and future foods tailored for the silver economy, featuring innovative products like soft-textured mooncakes and cognitive health supplements developed by local exhibitors. The Food Technology Seminar will explore the development of additive-free foods in Hong Kong and advocate for a “Clean Label” standard.
The 16th Hong Kong International Tea Fair welcomes trade buyers and the public over three days, promoting tea culture through health-focused tea and tea-related activities. Visitors can sample premium teas, including Bai Hao Yin Zhen (Silver Needle Tea), mild-acidity German fruit teas, cherry blossom black tea made from Yunnan’s century-old tea trees, raw Pu-erh tea from 1,500-meter-high ancient trees, award-winning Bai Yun Chun Hao tea, Iranian black and herbal teas, Kenyan orthodox tea, antioxidant-rich Sri Lankan purple tea, paired with exquisite teaware from various regions. The fair also features innovative tea beverages, such as Hong Kong-style Yuan Yang Tea capsules, herbal wellness tea capsules, sparkling tea, kombucha champagne tea, non-alcoholic ice wine tea, and matcha beverages. The “Friends of Tea” zone offers tea-infused snacks and perfumes, blending traditional and modern tea culture.
In collaboration with the Chinese Tea Culture International Exchange Association, the fair hosts the inaugural Guangdong-Hong Kong-Macau Youth International Tea Art Competition 2025, with the theme of “Bridging Eras in Greater Bay Area’s Tea Culture”, fostering cultural exchange among youth in Hong Kong, Macau, and Guangdong. The judging panel for the “Hong Kong International Tea Competition” will select the winners for the “Best Taste” and “Best Aroma” across six categories, with free tastings of the winning teas available to the public on 16 August. Additional event highlights include the “China & Greater Bay Area KamCha Competition 2025 (HK Milk Tea) – Hong Kong Final”, “2025 Hong Kong International Tea Culture Forum and China Tea Tourism City Brand Ceremony”, and the “International Tea Event Space Design Competition 2025”.
Food Expo: A Global Culinary Adventure with New Taste Experiences (14-18 August) The 35thFood Expo presents a five-day celebration of global gourmet foods and beverages. The “Gourmet Zone” features seven themed areas, covering fine dining, craft beverages, and indulgent desserts. Highlights include first-time exhibitor Meigetsudo, an 80-year-old Taiwanese confectionery brand offering wagashi and souvenirs, alongside award-winning beef noodles, tea gelato blended with locally made nut butter, specialty coffee, plum-lemon honey soda, Dubai chocolate, and Chinese sake. Local brand Mezzanine Makers has collaborated with six Hong Kong brands to create the “Mezzanine Pub”, featuring Kowloon Spirits (Hong Kong’s first locally crafted whiskey brand), N.I.P. Gin , and Magnolia Lab , a liqueur brand blending Western mixology with Chinese herbs.
The “Gourmet Zone” invites 10 star chefs, including Dong Lai Shun’s Sze Chiu Kwan, Fook Lam Moon (Kowloon Bay)’s Chan Chun Hung, The Royal Garden Le Soleil’s Do Thi Thuy Linh, OOAK LAMMA’s Stefanie Leung, and Deli Labo’s Nancy Fung, to demonstrate exquisite dishes using premium ingredients. The “Premium Food” zone showcases more than 30 renowned brands, including Chewy, CHOYA, Kee Wah, Lee Kum Kee, Maxim’s, Nissin, On Kee, Original Taste Workshop, Wing Wah, and first-time exhibitor Häagen-Dazs.
The China National Agricultural Pavilion, organised by the Agricultural Trade Promotion Centre, the Ministry of Agriculture and Rural Affairs of Mainland China, will present a thousand agricultural and food products from 13 provinces, including Anhui, Guangdong, Hainan, Xinjiang, and Shandong. This will fully showcase the distinctive regional characteristics of agriculture in Mainland China.
Beauty & Wellness Expo: Embracing Natural Beauty and Nurturing Mind and Body (14-18 August) The 9thBeauty & Wellness Expo presents premium skincare, haircare, health supplements, and slimming products. A new Polish pavilion introduces high-quality caviar essence creams, natural essential oils, and hair-growth serums.
The new “Scentsation” zone focuses on perfumes and aromatherapy, featuring over 20 renowned brands, including Eternal Group, and first-time exhibitor Lush with its hit product Deep Sleep Magnesium Massage Bar. In collaboration with the Hong Kong Association of Flower Arranging Societies, a “Scentsation” showcase explores the power of fragrances in nurturing mind, body, and soul, alongside more than 30 artistic floral displays with the theme of Brilliant Floral Banquet.
The Body Mind Spirit zone offers stress-relieving activities such as gong baths, sand painting, and hand massages. Industry partners, including the Hong Kong China Federation of Bodybuilding & Fitness, Federation of Beauty Industry (H.K.), Hong Kong Hair & Beauty Merchants Association, International Beauty & Health General Union, and the Cosmetics & Perfumery Association of Hong Kong, present the Beauty Salon, providing complimentary eyebrow trimming, manicures, body painting, and hairdressing services with limited availability.
Home Delights Expo: Future Homes for Elevated Lifestyles (14-18 August) The 11th Home Delights Expo showcases products such as home technology, massage chairs, kitchen appliances, bedding, furniture, and interior design services. New exhibitors include EMMAS, KuKa, Leung So Kee and Maxell. The “Avenue of Delights” showcases over 35 lifestyle brands, including LAURASTAR, Osim, Owell, Tiger, and Zwilling.
Featured home tech includes Towngas’ steam washing machine with smart stain treatment, German Pool’s Induction Cooker Food Warmer Turntable for simultaneous cooking and heat retention, and Thermomix’s multifunctional kitchen appliance, combining over 30 appliances in one compact unit, saving time and space. Celebrating Snoopy’s 75th anniversary, the “Snoopy Hide & Seek” activity invites visitors to snap photos with Snoopy and friends for a chance to win special prizes.
Five Theme Days: Unique Activities Every Day The fairs feature cross-exhibition theme days, each offering curated experiences: 1.Shall We Tea (14 August): The opening day includes Northern and Southern dim sum demonstrations, tea therapy workshops, and talks such as The Legacy and Contemporary Dialogues of Chinese Tea Culture and The Beauty of Tea, Where Small Things Reveal Greatness. 2.Flavours of Intangible Cultural Heritage (15 August): Highlights include Hakka Sau Fan making, and demonstrations of traditional steamers and bamboo crafts. Master Choi Wing-kei share some behind-the-scenes stories related to floral plaque craftsmanship, alongside Tai Chi and Wing Chun performances. 3.Asian Delights (16 August): Showcases Asian cuisine and culture with Chinese sake brewing demonstrations, Vietnamese and molecular Thai cooking demonstrations, Japanese shamisen performances, and Thai yoga massage experiences. 4.Body, Mind & Soul (17 August): Focusing on the silver economy, exhibitors like Mannings offer a Smart Health Station with free health tests for seniors. Seminars explore immunity-boosting diets, therapeutic soups, and cross-border medical trends in Hong Kong. 5.Taste of HK(18 August): Partnering with DRAGONS’ DEN, the Vegetable Marketing Organization, and the Fish Marketing Organization, the event promotes local produce, inspiring healthy, delicious home-cooked meals that embody the farm-to-table dining.
ICMCM: Experts Discuss Trends in Chinese Medicine and Health Products (14-15 August) The Modernized Chinese Medicine International Association (MCMIA) is partnering with the HKTDC, and ten scientific research institutions to present at the latest International Conference of the Modernization of Chinese Medicine & Health Products (ICMCM). Under the theme “Latest Research Progress in Preventing and Treating Tumors, Inflammation, and Cardiovascular and Cerebrovascular Diseases with Traditional Medicine”, the conference features 21 prominent speakers from Hong Kong, Mainland China, and abroad, sharing insights on innovations, global trends, challenges, and successful case studies. Conducted in a hybrid format to enable global participation, the conference also offers Continuing Medical Education (CME) credits for Hong Kong-registered Chinese medicine practitioners.
Food Expo Celebrates 35th Edition with Exclusive Offers To celebrate the 35th Food Expo, free admission tickets are available each day before noon, with 350 each at Halls 3FG and 5FG entrances respectively and redeemable with the designated advertisement. Over 100 promotions are priced at HK$35 to tie in the 35th Food Expo. The “Food Expo 35th Edition – Treasure Hunt” game engages visitors in Hall 3, where they can hunt for ‘treasure’, scan QR codes, answer questions correctly, and redeem gifts. Together with daily lucky draws, prizes are worth over HK$1 million, including kitchenware, furniture, beauty products, gourmet foods, health items; a lucky draw entry is granted for a single transaction of HK$300 or more. The “Smart Bidding” session allows visitors to bid on favourite items starting at 10% of their original price. Visit the “August Happy Buy” promotional website for flash sales and exclusive discounts.
Physical ticket sales are unavailable at the venue. E-tickets can be purchased in advance through AlipayHK, Alipay, 01 Space, 7-Eleven, Circle K, Octopus app, or The Club app, or at venue entrances using AlipayHK, Alipay, or Octopus. Discounted “Morning Admission” and “Evening Admission” are offered on select dates.
About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With over 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit:www.hktdc.com/aboutus.
– Three special offers invite residents and tourists to enjoy city’s cultural and leisure showcase
– A Hong Kong spotlight event in July and a feature of Hong Kong Summer Viva, the Hong Kong Book Fair opened today alongside the Sports and Leisure Expo and World of Snacks. More than 770 exhibitors are participating in the three events – With “Food Culture-Future Living” as the theme of the year, the Book Fair celebrates its 35th edition in 2025. To mark the occasion, three special offers have been introduced, including free entry for visitors born in 1990 to allow them to celebrate this milestone together – The Book Fair continues to feature the Eight Seminar Series, including a session where the assistant and close friends of the late Hong Kong food critic and writer Chua Lam will share anecdotes about his life – To echo the theme of the year, the World of Art & Culture presents “Book a Table ï½¥ Food for Thought”, an immersive exhibition where eight local and overseas artists collaborate with various consulates general in Hong Kong to explore global food culture through art – The FIBA 3×3 World Tour Hong Kong 2025 is held concurrently with the Sports and Leisure Expo on 19-20 July, while visitors can enjoy more than 1,300 treats at the World of Snacks
The 35th HKTDCHong Kong Book Fair, 8th HKTDCSports and Leisure Expo and 5th HKTDCWorld of Snacks opened today, running concurrently at the Hong Kong Convention and Exhibition Centre (HKCEC) for seven days (16 to 22 July). Organised by the Hong Kong Trade Development Council (HKTDC), the three events offer a one-stop experience encompassing literature, shopping, leisure and sports for residents and tourists alike. Cheuk Wing-hing, Acting Chief Secretary for Administration of the Hong Kong Special Administrative Region (HKSAR), gave a speech and proposed a toast at today’s opening reception, accompanied by Professor Frederick Ma, Chairman of the HKTDC.
The Hong Kong Book Fair marks Professor Ma’s first major HKTDC event since he assumed Chairmanship. “Since its inception in 1990, the Hong Kong Book Fair has, with the unwavering support of the industry and the public, evolved into one of Asia’s premier cultural events,” Prof Ma said. “It fosters a passion for reading and serves as a vital platform for cultural exchange between East and West,” he added. He further noted that this year’s Book Fair, held in conjunction with the Sports and Leisure Expo and World of Snacks, has garnered an enthusiastic response. Featuring over 770 exhibitors, the events collectively offer a vibrant, family-friendly summer experience that seamlessly blends literature, sports, lifestyle and gastronomy.
Three special offers celebrate Book Fair’s 35th edition To mark its 35th edition, the Book Fair has launched three special promotions. Visitors born in 1990, the year the Book Fair was first held, can enjoy free entry by presenting valid identification, while a limited-edition 35th-edition special package will be available, allowing five visitors to enter for the price of three tickets. In addition, visitors spending more than HK$500 at the Book Fair will have the opportunity to receive a limited-edition commemorative tote bag and a special gift.
As a Hong Kong spotlight event and a feature of the Hong Kong Summer Viva promotion in July, this year’s Book Fair has “Food Cultureï½¥Future Living” as its theme of the year. The event features more than 620 cultural activities, both inside and outside the venue, inviting prominent authors from the culinary literature realm to explore themes of cultural identity, lifestyle philosophy and food innovation through writing.
Seminar Series gathers writers from around the world to foster cultural exchange The Book Fair continues to feature the Eight Seminar Series, covering a diverse range of topics, including Personal Development andSpiritual Growth, World of Knowledge, Theme of the Year, English and International Reading, Children and Youth Reading, Hong Kong Cultural and Historical, Lifestyle, and Renowned Writers, co-organised with Ming Pao and Yazhou Zhoukan.
The Personal Development and Spiritual Growth series features a seminar celebrating the memory of renowned Hong Kong food critic and writer Chua Lam, with his assistant Yeung Ngo and close friend, well-known stylist Tina Liu, sharing stories about his life. Other distinguished speakers include former HKTDC Chairman Jack So, who will share his new book with the Chinese title As part of the World of Knowledge seminar series, Ronnie C. Chan, Honorary Chair of Hang Lung Properties and Chairman of the China Heritage Fund, will share the journey of restoring the Jianfu Palace Garden in the Forbidden City, drawing insights from the newly published book in Traditional Chinese, The Palace of Established Happiness: Restoring a Garden in the Forbidden City.
Highlights of the Theme of the Year seminars include renowned director and dietary therapy expert Yim Ho discussing anti-cancer nutrition (18 July); American commercial spaceship pilot Sian “Leo” Proctor on “Nourishing the Future – in Space and on Earth” (19 July); and a conversation between Andrew Chui, the fifth-generation heir of Tai Ping Koon Restaurant, and food reviewer and author Benny Li (20 July).
The English and International Reading series features Akutagawa Prize winner Rie Kudan from Japan. With 5% of her book Tokyo Sympathy Tower generated by ChatGPT, she will discuss writing in the age of artificial intelligence (17 July). Emerging Korean novelist Cheon Seon-ran will share her creative journey (18 July); and 16-year-old Vietnamese English-language author Nguyen Hanh Phuong (aka Rosy Black) will share her story of writing during her school years, with parents invited to bring their children to participate (20 July). For more details on the seminars and the speaker lineup, visit https://hkbookfair.hktdc.com/en/Events/Event-Schedule.html.
Sponsored by the Cultural and Creative Industries Development Agency of the Government of the HKSAR, the World of Art & Culture echoes the theme of the year by holding the exhibition titled “Book a Table ï½¥ Food for Thought”, a collaboration between eight local and overseas artists and the consulates general of various countries in Hong Kong that uses food as a bridge to connect cultures and offers visitors a chance to explore the world through the dining table. The exhibition presents eight themed tables guiding visitors through stories of life and culture told through the dining table and covering topics such as food and healthy living, surplus and future, table etiquette, lifestyle and culture, process, experience, music and art. Additionally, interactive installations on site recommend curated books and exhibits to visitors.
New zones break cultural boundaries Two new zones are introduced at the Book Fair this year. The Cultural and Creative Products Zone showcases cultural and creative products from the museums of the Leisure and Cultural Services Department along with interactive experiences related to Hong Kong’s intangible cultural heritage. The Cultural Affairs Bureau of Macao also joins the zone with its signature “Craft Market” while Hong Kong exhibitor Tsi Ku Chai showcases creative pieces inspired by the Palace Museum in Beijing. The Hong Kong Tech Showcase area, meanwhile, presents innovative technology products in various fields including edtech, healthtech, sportstech, foodtech and more.
Sports and Leisure Expo encourages wider participation as National Games arrive This year sees the staging of the 15th National Games, the 12th National Games for Persons with Disabilities and the 9th National Special Olympic Games, with several events taking place in Hong Kong. In response to the National Games and to promote wider sports participation, the Sports and Leisure Expo has set up an exhibition area where participants can take photos with games mascots Xiyangyang and Lerongrong. They can also learn more about the competitive events hosted in Hong Kong as well as the mass participation events, immersing themselves in the vibrant atmosphere of the games. The Hong Kong Sports Institute (Booth: 5C-B02) has set up a “Giant Cheering Net” where people can leave encouraging messages for all Hong Kong athletes, including those competing in the National Games. In addition, cyclist Leung Ka-yu, who has represented Hong Kong in the Asian Games and National Games, and freestyle rope skipper Ho Chu-ting, who was crowned men’s champion at the World Rope Skipping Championships, will share their journeys and experiences during the Star Athlete Sharing Session.
In collaboration with organiser M1 Group Limited, the FIBA 3×3 World Tour Hong Kong 2025 basketball tournament will be hosted indoors at the HKCEC for the first time. Matches will take place on Saturday and Sunday (19-20 July) in Hall 5E, featuring 16 of the world’s top teams, including four elite squads competing for the championship. Visitors can not only enjoy access to the Hong Kong Book Fair, Sports and Leisure Expo and World of Snacks with a single ticket, but they can also visit the 3×3 Village to experience the atmosphere of a world-class event. Additionally, they can engage in various sports games and explore the Sports Industry Showcase Area. This initiative aims to create a multifaceted experience that promotes cultural, sports and tourism development while providing a one-stop shopping, leisure and sports experience for locals and tourists alike.
The Hong Kong Playground Association (Booth: 5C-D02 & 5C-E02) is once again participating at the Sports and Leisure Expo, introducing a new sports experience area that offers participants the chance to engage in both traditional and emerging sports. Activities will include pickleball, freestyle rope skipping and running on 16-17 July; street fitness on 18-19 July; HADO AR dodgeball on 20-21 July; and drone soccer on 22 July. The latter is one of the mass participation events at the National Games. This year’s Sports and Leisure Expo also features a brand-new Travel Zone, showcasing the ever-popular Japan Pavilion, co-organised by the Consulate-General of Japan in Hong Kong and 17 participating Japanese prefectures and cities. The zone also includes pavilions from Taiwan and Thailand as well as a variety of uniquely Hong Kong attractions.
World of Snacks features international delicacies and more! The World of Snacks is divided into six zones – Travel Delights, Chocolate and Sweet Factory, Oldie Snacks, Yummy & Healthy, Party Time and Snack Bar – and brings together over 1,300 creative and international snacks that offer everything from nostalgic flavours to festive party treats to satisfy every craving. A highlight this year is Heartwarming (Booth: 5B-A21), whose stone-ground black sesame products were endorsed with the Michelin Guide’s Bib Gourmand 2025. Signature offerings include black sesame ice cream, black sesame paste and sesame balls. Meanwhile, Krisca, in collaboration with Kwan Hong Bakery and LY Bakery, has launched a new range of pistachio snacks (Booth: 5B-A11). World of Snacks is also hosting a series of snack-related activities for visitors, including a Junior Mixologist Workshop (non-alcoholic version), to cater to the diverse interests of visitors.
This year’s Hong Kong Book Fair again offers a morning admission tickets promotion. Visitors entering before noon can enjoy a discounted ticket price of HK$10. In addition, the special re-entry promotion allows eligible ticket holders to re-enter the venue during two designated time slots. All ticketing can be found below.
Disclaimer: The Government of the Hong Kong Special Administrative Region provides funding support to the project only, and does not otherwise take part in the project. Any opinions, findings, conclusions or recommendations expressed in these materials/events (or by members of the project team) are those of the project organisers only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Culture, Sports and Tourism Bureau, the Cultural and Creative Industries Development Agency, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee.
Media enquiries Hong Kong Book Fair, Hong Kong Sports and Leisure Expo and World of Snacks Yuan Tung Financial Relations: Agnes Yiu Tel: (852) 3428 5690 Email: ayiu@yuantung.com.hk Salina Cheng Tel: (852) 3428 2362 Email: salcheng@yuantung.com.hk
Hong Kong Sports and Leisure Expo, World of Snacks HKTDC’s Communications & Public Affairs Department: Stanley So Tel: (852)2584 4049 Email: stanley.hp.so@hktdc.org Jane Cheung Tel: (852) 2584 4137 Email: jane.mh.cheung@hktdc.org
About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With over 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on @hktdc and LinkedIn
APCS Lda, the Portugal-based company behind the luxury travel brand Revigorate, proudly announces three major milestones in its global expansion: the launch of bespoke, high-end Japan luxury travel, the establishment of a new Asia-Pacific operational team based in Manila, and the acquisition of a larger headquarters in Portugal. Together, these developments mark a transformative year for the company as it continues its mission to deliver extraordinary tailor-made vacations to discerning global travellers.
Woman in traditional Japanese kimono walking at Fushimi Inari Shrine in Kyoto
Expanding Into Japan: A Bespoke Gateway to Asia
The launch of Japan as Revigorate’s first Asia destination reflects growing client demand for luxury travel experiences that go beyond the ordinary. Revigorate’s Japan itineraries are designed to immerse travellers in the country’s most exclusive cultural and natural treasures: private geisha dinners in Kyoto, Zen meditation at ancient temples, bullet-train journeys through iconic landscapes, sumo stable visits, sake brewery tastings, and serene stays at ryokans renowned for impeccable hospitality.
This expansion deepens Revigorate’s reputation for designing tailor-made journeys that reflect each client’s unique interests and style, while providing insider access unavailable to mass-market travellers. An example of this destination expertise can be explored in the brand’s Japan luxury travel guide, illustrating the exceptional detail, planning, and care behind every Revigorate itinerary.
Introducing the Asia-Pacific Office in Manila
To support its growing footprint across Asia, Australia, and the Middle East, Revigorate has launched a new Asia-Pacific team based in Manila. This team improves service delivery by offering seamless, round-the-clock support for global clients and enables the company to deepen local partnerships with luxury hotels, private guides, cultural experts, and premium experience providers throughout the region.
While the Manila team is already active, the formal incorporation of Revigorate’s Philippine subsidiary is expected to be completed by July 2025. This marks an important operational milestone, ensuring long-term growth and local presence to complement the company’s Portugal base.
A Larger Headquarters in Portugal Signals Continued Growth
Reflecting its strong business performance and future ambitions, APCS Lda has sold the freehold of its long-standing office on Vilamoura Marina and purchased the freehold of a larger, newly built headquarters in the Terraço de Quarteira II development in Quarteira, Portugal. The move to the new office, expected in early Q4 2025 following a custom-designed interior fit-out, will provide expanded space for Revigorate’s growing team and enhance its capacity to deliver premium client service and manage global operations.
About APCS Lda: Commitment to Crafting Unforgettable Travel
Founded in 2017, APCS Lda operates under the Revigorate brand to offer tailor-made vacations across Europe, North Africa, and now Asia. The company has earned recognition from leading industry publications such as Condé Nast Traveler and Travel + Leisure for its deep destination expertise, commitment to service excellence, and ability to design bespoke journeys that combine cultural richness, luxury access, and flawless execution.
For discerning travellers seeking expertly curated, high-touch journeys, Revigorate invites them to request a complimentary luxury travel consultation to begin crafting their next unforgettable experience.
C.O.T.U. (Centre Of The Universe)announces its official opening, bringing a new dimension to Singapore’s entertainment landscape, from its stunning perch above the Marina Bay skyline. Poised to be Asia’s most unique lifestyle concept, C.O.T.U. presents a journey across five immersive worlds of luxury dining, bespoke cocktails, and dynamic entertainment, all set across levels 38 & 39 of sky-high sophistication at CapitaGreen.
Crafted in Singapore, Designed to Disrupt C.O.T.U. is not only a testament to Singapore’s spirit of innovation but also a celebration of a new era in entertainment. This wholly Singaporean concept is set to disrupt the regional dining and entertainment landscape with its unique convergence of culinary artistry, inspired mixology, and immersive entertainment.
This groundbreaking concept brings together the visionary minds of some of the most celebrated figures in global hospitality. Leading the charge is a team of founders renowned for creating transformative experiences in nightlife and dining. Joshua Schwartz and Sarissa Rodriguez-Schwartz, known for Pangaea, the game-changing ultralounge that defined Singapore’s nightlife, along with Bang Bang, LuLu’s Lounge, Employees Only, and Pasta Bar, bring their signature energy and immersive style. Joining them are Phillip Poon and Cedric Chong, whose impact in Singapore’s nightlife scene includes landmarks like Providence Kuala Lumpur, Filter, Mink, and Empire, alongside Cher Ng, the creative force behind international hotspots Zouk, TREC, and the F1 Amber Lounge in Singapore and Monaco. Together with nightlife pioneers Mikey M.S., co-founder of Attica and Le Noir, and Sanji Van, co-founder of Barouv Rooftop Bar and Beacon, this powerhouse team has redefined Singapore’s entertainment landscape with C.O.T.U., setting a new standard in experiential luxury.
Little Birdie
A High-Altitude Playground for All Senses Designed as a fully immersive experience, C.O.T.U. transports guests across five distinct worlds, each crafted to engage and surprise. The journey begins with Little Birdie, an intimate cocktail bar where guests can rediscover cocktails in playful, theatrical ways. With its hidden-in-plain-sight appeal, Little Birdie takes flight as the go-to destination for an experiential cocktail experience unlike any other in the city, offering a haven of creativity and innovation.
Enso steakhouse & modern Japanese grill
For lovers of Japanese-inspired fine dining, Enso steakhouse showcases an American steakhouse experience with Japanese sensibilities. Chef Alex Craciun combines bold, premium cuts of meat with the precision of Japanese culinary artistry. The elegance of the space, combined with Chef’s custom-designed beef aging room, where select cuts are meticulously dry-aged to enhance flavor and tenderness, ensures a truly exceptional experience.
The Whisper Room
As guests continue through, The Whisper Room awaits, transitioning from a refined daytime retreat to a high-energy live jazz lounge by sunset, perfect for a chic girls’ soiree or corporate entertainment. Inspired by the pulsating atmosphere of New York’s famed hotel bars, where jazz and sophistication created timeless ambience, The Whisper Room features plush decor and stunning views of Marina Bay, offering a captivating space that combines elegance, energy and tailored beverage program paired with delicious bites .
Dashi Go-Go
As night falls, Dashi Go-Go Ultra Lounge invites patrons into a Neo-Tokyo Bladerunner-inspired boutique ultralounge for an electrifying nightlife experience. With a dynamic ambiance fueled by hip hop and R&B beats, Dashi Go-Go offers a unique and immersive atmosphere that draws guests in.
Topping off the experience is Dashi Sky Pool, where guests can relax in cabanas under the stars, enjoy floating film festivals, or take in the stunning city views with Marina Bay as a backdrop.
Celebrate the Holiday Season and Ring in the New Year Above Marina Bay Set against the glittering panorama of Marina Bay, C.O.T.U. is the ultimate destination for year-end celebrations, including Singapore’s famed New Year’s Eve fireworks. With floor-to-ceiling windows capturing the city’s iconic skyline, the unique ambiance of C.O.T.U. provides an unforgettable backdrop for festive gatherings and countdown celebrations.
Architectural Excellence: Threaded Creatives Transforms C.O.T.U.’s Vision into Reality The design of C.O.T.U.’s five distinct concepts was shaped through a close collaboration with Threaded Creatives, an award-winning architectural and design firm renowned for their innovative approach to reimagining spaces. Tasked with transforming the existing 18,000 square feet across two levels, the team embarked on an extensive renovation to bring C.O.T.U.’s ambitious vision to life.
Threaded Creatives redefined the space by creating a cohesive flow that connects each concept while allowing them to stand independently, catering to the diverse needs of guests. The design maximises the building’s unique features, such as its full-height windows and prime vantage point above Marina Bay, while addressing operational flow and guest experience.
Little Birdie, the cocktail bar at the heart of C.O.T.U., was designed as a welcoming focal point, with intimate seating and a theatrical atmosphere to draw guests in. The Whisper Room combines opulence and intimacy with a striking double-height back bar and a design that frames breathtaking views of surrounding Marina Bay. In Enso Steakhouse, the ripple mirror ceiling and suspended sculptures create a sense of drama, while the natural light from floor-to-ceiling windows highlights the panoramic skyline.
For the Dashi Sky Pool, the design team curated an open-air sanctuary, incorporating cabanas to create a skyhigh haven where guests can enjoy sweeping views of Singapore’s cityscape. Finally, at Dashi Go-Go Ultra Lounge, the Neo-Tokyo aesthetic is brought to life with dynamic retro lighting and strategically placed mirrors that expand the space and energise the atmosphere.
Threaded Creatives’ expertise in design and architecture is evident throughout the renovation, setting a new standard for integrated lifestyle destinations. The result is a space that not only showcases design excellence but also redefines the possibilities of entertainment and dining in Singapore.
5. Dashi Sky Pool Target Launch January, 2025 Available for Private Events
Capacity: 50 Guests
About C.O.T.U
C.O.T.U (Centre of the Universe) is a pioneering multi-concept venue located in the heart of Singapore’s Central Business District at CapitaGreen, Raffles Place. The 18,000 square feet innovative space seamlessly integrates fine dining, sophisticated cocktails, and a poolside oasis, redefining hospitality with a unique day-to-night lifestyle experience.
The Founding Team
Our visionary team comprises industry leaders and experts in the food and beverage sector, including:
Joshua Schwartz and Sarissa Rodriguez-Schwartz, renowned for their work on Pangaea, Bang Bang, LuLu’s Lounge, Employees Only, and innovative F&B concepts including Pasta Bar, Papi’s Tacos & Mami’s Tamales
Phillip Poon and Cedric Chong, credited with transforming Singapore’s nightlife scene through Providence Kuala Lumpur, Filter, Mink, and Empire
Cher Ng, a global expert with a portfolio including Iron Fairies, Zouk, TREC, and Amber Lounge, the most exclusive F1 party in Singapore and Monaco
Mikey M.S, co-founder of Attica, Attica Shanghai, and Le Noir, and Sanji Van, co-founder of Barouv Rooftop Bar and Beacon, who have shaped the nightlife landscape at Clarke Quay
The C.O.T.U Vision
At C.O.T.U, the team is dedicated to delivering an unparalleled lifestyle experience, setting new standards for luxury and entertainment in Singapore. Join us on this exciting journey and discover a new universe of possibilities. For the latest, visit https://www.cotu.co/
Note to Editors:
– Complete press kit with high-resolution images, bios and press releases can be accessed HERE. – C.O.T.U, located at 138 Market Street, CapitaGreen, Levels 38 & 39
For interviews with the Co-Founders, tastings, photoshoots, exclusive features with Chef Alex, please contact: wani@prbespoke.com +65 9832 0643
From December 25, 2024, West Air will launch a new Lhasa ⇌ Chongqing ⇌ Singapore international route. The opening of this route will promote cultural exchanges between western China and Singapore. It is also the first international route to be added since the official renaming of Lhasa Gongga International Airport.
The route will be operated by an Airbus A319 with three round-trip flights per week. The outbound flight number is PN6425, operating on Monday, Wednesday, and Friday, departing from Lhasa at 17:40, arriving in Chongqing at 20:30, departing from Chongqing at 22:50 (23:00 on Mondays), and arriving in Singapore at 03:55 the next day.
The return flight number is PN6426, operating on Tuesday, Thursday, and Saturday, departing from Singapore at 04:55, arriving in Chongqing at 09:40, departing from Chongqing at 12:20, and arriving in Lhasa at 15:20.
Lhasa, the “City of Sunshine,” is the “spiritual home” of many travelers. Its rich religious culture and historical sites give it an atmosphere of tranquility and mystery. The magnificent Potala Palace, the lofty Tanggula Mountains, and the crystal-blue Namtso Lake attract tourists from all over the world. The new route builds a “two-way bridge” between the snowy plateau and the tropical island.
Chongqing, as the operational center for the China-Singapore (Chongqing) Strategic Connectivity Demonstration Project, has strong strategic alignment with Singapore. The new route will serve as a bridge linking western China and the ASEAN region, creating an “air corridor” for the development of a new land-sea corridor in the west. This route will also play a significant role in promoting economic, trade, cultural, and tourism exchanges between Lhasa, Chongqing, and Singapore.
Following the implementation of the China-Singapore Mutual Visa Exemption Agreement on February 9, 2024, Ordinary Passport Holders can now embark on a “just-go” journey. As a friendly neighbor of China, Singapore has no time difference, a welcoming Chinese-speaking environment, year-round summer temperatures, and excellent infrastructure. Singapore remains a top destination, offering everything from Michelin-starred restaurants and Nanyang street food to garden city landscapes and multicultural experiences.
To celebrate the launch, West Air will introduce specialfares:
Lhasa ⇌ Singapore round-trip tickets as low as RMB 1,888 (tax included)
Chongqing ⇌ Singapore round-trip tickets as low as RMB 1,499 (tax included)
Promotions will also be available on West Air’s official website (www.westair.cn) and TikTok live streams. One-way fares to Singapore start at RMB 350 (excluding tax), and fares from Singapore start at SGD 70 (excluding tax). (Offers are subject to availability. Prices may change; please refer to official updates.)
West Air is also offering a range of travel-friendly policies:
10% discounts for tickets purchased 7 days in advance for small group travelers.
Additional 20KG baggage allowance for international students and immediate family members (available via call center 95373 or at the counter).
“Baggage Beneficial Offer” product, providing a 30KG free baggage limit.
Preferential fares for connecting flights through intermodal transport with Hainan Airlines and other domestic partners.
About West Air
As a subsidiary of HNA Airlines, West Air continues to strengthen its operations under Liaoning Fangda Group, which celebrates its third anniversary on December 8, 2024. In alignment with the Chongqing Municipal Government’s goals, West Air has consistently expanded its international routes originating from Chongqing. Since 2016, the airline has launched direct routes from Chongqing to Singapore, Phuket, Osaka, Mandalay, Jeju, Bangkok, and Hanoi, forming a robust international network across Asia. These routes have strengthened Chongqing’s connectivity with key Asian destinations, contributing to local economic development and supporting the city’s growth as a leading aviation hub.
Looking ahead, West Air will expand its investments in “Belt and Road” countries and open additional routes to meet growing passenger demand while supporting national strategies and regional development.
On the evening of 10 December, Fosun Tourism Group (FTG) announced on the Hong Kong Stock Exchange its plan to repurchase shares at a price of HK$7.8 per share. This price represents a 111% premium over the closing price of the day before the last trading day. This privatization will raise FTG’s market value to HK$10.5 billion, and the announcement swiftly captured widespread attention.
The market generally perceives this move as part of Fosun’s strategy to focus on its core businesses and consolidate resources to support its core industries with established advantages. In June, Fosun Pharma announced its plan to privatize its biopharmaceutical subsidiary, Shanghai Henlius, through a merger.
Within a year, with two key subsidiaries announced for privatization, what strategy is Fosun pursuing? Analysts suggest that “These two subsidiaries are high-quality assets of Fosun, and their privatization reflects Fosun’s commitment to strengthening its focus on core businesses with established advantages. This move also indicates that Fosun has ample cash flow, enabling it to pursue sustainable growth and make flexible adjustments.”
Recently, Fosun has been active in its core sectors, such as tourism and pharmaceuticals. The company recently co-organized a biopharmaceutical innovation forum and signed agreements with several high-profile institutions. It also shipped its independently-developed drug, HANQUYOU, to the U.S. and expanded Club Med into the Greater Bay Area. These actions demonstrate Fosun’s intention to focus on its core businesses, building momentum for high-quality growth.
Focusing on asset-light operations to create long-term value through a “retreat to advance” strategy in the tourism sector Since the trading halt of FTG on 27 November, speculation about its privatization has circulated widely in the market. The announcement on 10 December confirmed FTG’s privatization, with investors noting that the privatization is a win-win choice.
According to public information, FTG has been a core subsidiary within Fosun’s Happiness business segment since its establishment. In the first half of 2024, it reported a business volume of RMB10.65 billion, with an adjusted EBITDA of RMB2.09 billion and a profit attributable to equity holders of the company of RMB320 million, reflecting a 20% increase compared to the same period in 2023, excluding the one-off gain on disposal of resorts.
In recent years, FTG has faced challenges due to global macroeconomic environment, trends in the tourism industry, and the overall performance of the Hong Kong stock market. Since its listing, the company’s share price has not reflected its true value, and trading volumes have been low, limiting its financing capacity. The advantages of being a listed company have not been fully realized, while maintaining its listing status has incurred additional costs. Completing the privatization will not only resolve liquidity issues but also enhance strategic flexibility and focus on long-term sustainable development.
As a flagship brand of FTG, Club Med has recently achieved a new breakthrough. On 29 November, Shenzhen, CITIC, and Fosun signed a cooperation framework agreement to launch Club Med at Jinsha Bay in Dapeng New District, a key area for tourism development in Shenzhen. This collaboration is viewed in the tourism industry as a powerful alliance, combining high-quality resources.
Club Med Joyview, the product line set to debut in Jinsha Bay, is designed specifically for the Chinese market, focusing on urban short-distance vacations. It has already seen success in locations such as Qiandao Lake in Zhejiang and Heilongtan in Sichuan. Dapeng New District holds high hopes for the project, believing that the establishment of a Club Med resort in Jinsha Bay will “fill a gap in high-end family resorts in Shenzhen and enhance the international profile and tourism appeal of both Shenzhen and Dapeng New District.”
Analysts noted that Fosun is increasingly strengthening its asset-light strategy in the tourism sector. By leveraging strong intellectual properties and operational capabilities, Fosun has been accelerating partnerships with local governments and state-owned enterprises to seize promising projects. In addition to launching Club Med in Jinsha Bay, the recent signing of the second phase of the Taicang Alps Resort and the launch of the ULTRAMED Hainan are also prime examples of this asset-light approach.
“At first glance, Fosun’s move towards privatization may seem like a ‘retreat’. However, the clear strategic direction and the steady advancement of asset-light projects indicate that the company is actually ‘retreating to advance’. In an uncertain market cycle, this approach maximizes strategic flexibility, allowing a focus on long-term goals and sustainable development.”
Strengthening the pharmaceutical sector and embracing integrated innovation with a global perspective In addition to the tourism sector, pharmaceuticals continue to be a key pillar of Fosun’s business profile, with the company making significant strides in this area recently.
On 2-3 December, Fosun co-organized the first “Greater Bay Area (GBA) Star” Biopharmaceutical Original Innovation Forum in Shenzhen. Just two weeks prior, it co-organized another forum themed on “Original Innovation” in Shanghai.
By co-organizing two high-profile industry forums within a month, Fosun has demonstrated its leadership and influence in the biopharmaceutical field. Fosun also signed strategic cooperation agreements with Fudan University, Shanghai University, the Shanghai Institute of Materia Medica, Chinese Academy of Sciences, and Ruijin Hospital, among others, to jointly promote original innovation.
Guo Guangchang, Chairman of Fosun International, said at the forum, “Good innovation must start from demand. In the biopharmaceutical sector, this means putting ‘patients first’. Additionally, innovation should maintain a ‘global perspective’, always embracing an open mindset and adhering to a win-win cooperation.”
While driving innovation in the industry, Fosun has also made important breakthroughs in broaden its global market reach. On 29 November, the first batch of HANQUYOU, a trastuzumab biosimilar independently developed and manufactured by Shanghai Henlius, was shipped to the U.S.
HANQUYOU is the first China-developed monoclonal antibody biosimilar approved in China, the EU, and the U.S. To date, it has been approved in 50 countries and regions, benefiting over 220,000 HER2-positive breast and gastric cancer patients globally. According to Shanghai Henlius, approximately 6.5 million units of HANQUYOU have been shipped globally since its commercialization in 2020. In 2023 alone, HANQUYOU contributed over RMB2.7 billion in sales revenue.
Industry expert believes that successfully entering the U.S. market will significantly enhance the growth trajectory of HANQUYOU and lay a solid foundation for the overseas expansion of Shanghai Henlius’ products. “The reasoning is simple: by breaking into the toughest market, the company gains confidence when approaching other countries and regions.”
After more than a decade of development, Shanghai Henlius has built a diversified and robust product pipeline encompassing over 50 molecules, covering areas such as oncology, autoimmune diseases, and ophthalmology. Currently, 6 products have been approved for marketing in China, 3 have been approved for marketing in overseas markets, and 24 indications have received approval, and 4 applications have been accepted by the National Medical Products Administration (NMPA), the U.S. Food and Drug Administration (FDA), and the European Medicines Agency (EMA) in the EU. In addition to HANQUYOU, products such as HANSIZHUANG, HANLIKANG, HANDAYUAN, and HANBEITAI maintain leading positions in their respective markets.
Notably, in June, Fosun Pharma announced its plans to privatize its subsidiary, Shanghai Henlius, through a merger. The proposed purchase price is HK$24.6 per share, representing a premium of 36.67% over the closing price on the Hong Kong Stock Exchange on the undisturbed date, and a premium of 52.04% over the average closing price based on the daily closing prices of H Shares as quoted on the Hong Kong Stock Exchange for the 30 trading days immediately prior to and including the undisturbed date. The total cash consideration shall not exceed HK$5.407 billion. Following this announcement, Fosun Pharma’s share price surged significantly.
The industry generally views this privatization as a way for Shanghai Henlius to implement its long-term strategy more flexibly, which will help avoid the pressures of market expectations and stock price volatility associated with being publicly listed. This move also allows for a fresh start, enabling the company to explore new development opportunities through asset restructuring and industry adjustments. Once privatized, Shanghai Henlius’ core capabilities and long-term value will be further realized, thereby enhancing Fosun’s competitive edge in the pharmaceutical sector.
Strong financial position and ample cash flow recognized by domestic and international institutions From a financial perspective, Fosun’s recent series of strategic moves reflects its solid financial standing and ample cash flow, enabling it to pursue various strategies, including privatization.
As of 30 June 2024, the company’s cash, bank balances and term deposits reached RMB109.55 billion, representing an increase of approximately RMB17.1 billion since the end of 2023.
Recently, S&P and securities firms such as CITIC, have released reports highly recognizing Fosun’s focus on its core businesses in the household consumption sector, its optimization of asset structure, and its successful U.S. dollar note issuance to broaden its funding channels. Several securities firms have assigned Fosun a “Buy” rating.
S&P believes Fosun has adequate liquidity buffer to meet its debt maturities obligation over the next two years and expects Fosun to continue divesting its non-core assets, leading to a steady decline in its debt. Furthermore, as offshore subsidiaries reach maturity, Fosun International’s dividend receipts are expected to enhance significantly. Therefore, S&P maintained a “stable” rating outlook on Fosun International.
CITIC Securities noted that since 2020, Fosun has focused on developing strategically core businesses with market leadership while optimizing its asset structure and financial position through the divestment of non-strategy and non-core assets. As the company deepens its global operations, enhances business synergies, and improves its technological innovation capabilities, it is poised to unlock long-term growth potential.
Analysts expressed that with strong financial backing, Fosun is continuously enhancing its competitiveness by focusing on its core sectors and exploring new growth opportunities, thereby further releasing its long-term value.
On 21 November 2024, S&P Global Ratings released an updated report expressing strong recognition of Fosun International (HKEX: 00656)’s recent US dollar note issuance. S&P noted that the successful issuance is positive for the company’s credit matrix as it helps broaden the Group’s funding channels, thereby maintaining a “stable” outlook on Fosun International’s rating.
S&P released the report following Fosun International’s successful issuance of USD300 million 3.5-year US dollar-denominated senior unsecured notes on 13 November. S&P pointed out that re-opening the offshore US dollar bond market which has been closed for more than three years reflects a significant improvement in Fosun’s creditworthiness and recognition from broad-based investors. The US dollar note issuance is positive in helping Fosun International to diversify its financing options, extend its debt maturities, and strengthen its liquidity buffer. Alongside the new note issuance, Fosun announced to tender its 2025 maturity bond up to equivalent amount of the new issue. This is to ensure that the new issue will not increase Fosun’s total outstanding interest-bearing debt.
It is reported that the note issuance attracted strong interest from a large number of mainstream institutional investors globally, with the order book reportedly exceeding USD1.2 billion.
According to various market sources, the successful issuance of the USD300 million notes was attributed to the company’s consistent focus on core business development, divestment of non-strategy asset, optimization of debt structure, and stabilization of international credit ratings over the past two years, helping Fosun to become one of the few Chinese private enterprises to regain vote of confidence from global investors in recent years. Amidst a backdrop of US rate easing cycle, Fosun continues to provide high-quality, secure, and long-term asset allocation options for its long-term supportive investors, thereby maximizing value for them.
S&P mentioned in the report that although the size of the USD300 million note issuance is not large, combined with the Group’s USD888 million offshore syndicated loan raised earlier in the end of September, as well as Fosun’s solid track record of refinancing onshore bank loans over past years, S&P believes Fosun has adequate liquidity buffer to meet its debt maturities obligation over the next two years. S&P reaffirmed a “BB-” stable rating to the US dollar notes and expects Fosun to continue divesting its non-core assets, leading to a steady decline in the Group’s debt. Furthermore, as offshore subsidaries reach maturity, Fosun International’s dividend receipts are expected to enhance significantly.
On 30 September, Fosun International announced the closure of a sustainability-linked syndicated loan totaling USD888 million through greenshoe, one of the largest of its kind issued by Chinese private enterprises this year. The loan is a three-year senior unsecured working capital loan and the participating banks include several leading banks from Greater China, the Asia-Pacific region, and Europe and the Americas. This reflects the continued recognition of the Group’s credit quality by both domestic and international banks, and indicates that the company’s sound financing channels will provide a solid foundation for its steady development.
Recently, research reports from several securities firms have pointed out that Fosun International’s strategy of focusing on its core businesses has yielded significant results. Among them, Northeast Securities released a research report on 15 November, noting that Fosun International, driven by its twin driver of “innovation + globalization”, has a clear strategic positioning and robust performance across its four business segments. Furthermore, Fosun has steadily improved its cash flow through optimizing asset allocation. Northeast Securities is optimistic about Fosun’s future prospects and has assigned the company a “Buy” rating.
Boosts Hong Kong as a regional trading hub for wine and spirits
– The three-day Fair concluded yesterday, attracting over 8,200 trade buyers from 61 countries and regions – 50 events and conferences held during the Fair helped facilitate trade and business networking – A lower duty rate for liquor, announced in the latest Policy Address, helps promote emerging Chinese baijiu to the international market
The 16th Hong Kong International Wine & Spirits Fair, organised by the Hong Kong Trade Development Council (HKTDC), concluded yesterday. The three-day Fair attracted over 8,200 trade buyers from 61 countries and regions. Yesterday’s public day attracted over 10,000 visitors aged 18 and above, who enjoyed fine alcoholic beverages from around the world and participated in master classes, tasting sessions, and seminars in the Wine Fiesta zone. This reflects the Fair’s important role as a trade and promotional platform.
Sophia Chong, Deputy Executive Director of the HKTDC, said: “This year’s Fair has attracted over 8,200 trade buyers. The number of buyers from some countries and regions increased, including ASEAN countries such as Indonesia, Thailand, Malaysia, the Philippines and Vietnam, as well as Japan, Taiwan, Mainland China and more. Global buyers are keen to come to Hong Kong to participate in the Wine and Spirits Fair, promoting Hong Kong as a regional trading hub for wines and spirits.”
Ms Chong added: “The latest Policy Address announced a lower duty rate for liquor, which is expected to enhance the trade of high-end spirits. More than one quarter of exhibitors at the Fair brought spirits from around the world, including Chinese baijiu, whisky, vodka, brandy and more. We are glad to see that so many exhibitors and buyers interacted with each other, seizing the business opportunities brought about by the new policy.”
Importers, wholesalers, retailers and e-commerce buyers who attended the Fair included: Awin Barratt Siegel Wine Agencies from the United Kingdom; Grupo Alpom Importaciones SL from Spain; Le Clos (MMI) from the United Arab Emirates; ASC Fine Wine (Shanghai) Ltd, Beijing WJ E-Commerce Co, Ltd. and Vinehoo (Chongqing) Co. Ltd. from Mainland China; Mercian Corporation from Japan; Thevincsr from Korea; Luen Heng F&B Sdn Bhd from Malaysia; Wine Creek Pte Ltd. from Singapore; Thai Beverage Distribution Co Ltd from Thailand; Phu & EM Group from Vietnam and more.
Trading and marketing opportunities for spirits exhibitors This year’s Fair showcased a wide selection of Chinese baijiu from various regions, including Moutai and Zhenjiu from Guizhou, Fenjiu from Shanxi and “Zhongmao” from Sichuan. Exhibitors are capitalising on the Government’s reduction in liquor duty to expand their business opportunities.
Guizhou Jin Jiao Liquor Industry (Group) Co,. Ltd which specialises in high-end Chinese baijiu, reached a strategic agreement with Hong Kong distributor Wines up Shoppers Group. Guizhou Jin Jiao Liquor’s CEO Xu Xinzhou said that the anticipated collaboration amount is expected to reach at least RMB10 million in one year, helping the company expand its overseas market. Matthew Lun, CEO from Wines up Shoppers, said, “Chinese baijiu holds significant potential in the global Chinese market. We plan to capitalise on the Government’s recent reduction in liquor tax to tap into this market and promote Chinese baijiu, a traditional cultural product, throughout Southeast Asia and beyond.” Guizhou Jin Jiao also identified another Hong Kong buyer through the Fair, aiming to distribute its baijiu in Hong Kong. The two parties will negotiate a first-year business agreement valued at around RMB2 million.
Irish whiskey exhibitor Clonakilty Distillery Ltd made its first appearance at the Fair. Company founder Michael Scully said that they have identified about 30 potential buyers from around the world within a day and a half. “The slashing of liquor tax is excellent news, demonstrating to the world that Hong Kong is dedicated to establishing itself as a trading hub for premium wines and spirits in Asia,” he said.
“We met a major buyer who distributes alcoholic beverages in both Hong Kong and Mainland China, and we expect him to place an initial order of around EUR100,000 in which some of the high-end whiskies will benefit from the new taxation and enjoy a lower tax rate while being imported to Hong Kong. We believe that the tax reduction has significantly increased the interest of buyers.” Mr Scully also estimated that he could secure orders worth approximately EUR1 million within a few years through the Fair.
50 events were held during the Fair, with 12 of these related to spirits. At a seminar themed “A Review and Outlook of the HK Spirits Market (Taste Changes and Taxation)”, speakers noted that Hong Kong’s reduction of duty on high-end spirits has prompted many businesses in the industry to immediately lower their prices, which helps stimulate demand for spirits.
The Fair also presented fine wines from Mainland China, including wines from Ningxia, Yantai in Shandong, Xinjiang and Yunnan, as well as yellow wine from Shaoxing. Chateau Xianghai, a wine exhibitor from Xinjiang, connected with potential buyers from the United States as well as Malaysia and Vietnam from the ASEAN Region. The company’s General Manager Guo Cong said, “The Fair is an international platform providing us with numerous opportunities to expand into overseas markets.”
Diverse fine wines and spirits to meet buyer demand To meet consumers’ and buyers’ diverse preferences for alcoholic beverages, the Fair presented an extensive selection of global offerings. These included Old World wines from the Czech Republic, France, Germany and Italy, and New World wines from Australia, South Africa and the United States, as well as whiskey from Ireland. There were also dedicated buyers for sake, gin, plum wine and shochu from Japan, along with tequila from Mexico.
Participating for the first time in the Wine and Spirits Fair, Czech exhibitor THAYA vinarstvi, spol. s r.o. engaged with around 50 buyers in just one day and a half, with over 10 showing potential for collaboration. THAYA’s Chief Operating Officer, Ing. Vit Travnicek said, “The Sommeliers’ Picks is a great initiative. One of our white wines is featured on the list, and several buyers came specifically to source based on the list.”
He also mentioned that the company has just started to explore the Asian market. They have successfully connected with potential buyers from Mainland China, Hong Kong, India, Malaysia, Japan, Singapore and Vietnam during their very first time at the Fair, “We participate in eight wine exhibitions each year, and this one stands out as the most international.”
Sambath Sothea, CEO of Auskhmer Import Export Co., Ltd, a buyer from Cambodia, stated that he has a fruitful experience at the Fair and has identified four potential suppliers. He plans to purchase products worth approximately US$50,000, including Japanese sake and wines from Italy and Georgia.
Seminars explored consumer demands and sustainable development A seminar hosted by Master of Wine Debra Meiburg explored consumption trends and preferences among Gen Z and millennials, an emerging consumer group. Industry representatives speaking at the event noted that young adults have a strong preference for cocktails. The vibrant colours of cocktails are perfect for sharing on social media, allowing the industry to achieve significant promotional results.
Lan Kwai Fong (LKF) Concepts crafted a special cocktail, HK & Suit, for yesterday’s public day. Many visitors tried it, fostering a lively atmosphere.
Sustainability has become a significant industry trend. At a seminar on promoting sustainable wine, a renowned sommelier and alcoholic beverage manufacturer emphasised that providing information on sustainable wine and spirits-making would enhance consumer confidence in the market.
Under the EXHIBITION+ hybrid mode, buyers could use the Scan2Match function of the HKTDC Marketplace App to scan exhibitors’ unique QR codes during the physical exhibition. They could also bookmark favourite exhibitors, browse product information and continue discussions with exhibitors online after the show. Exhibitors and buyers can also engage in online business negotiations and matching through the Click2Match smart business matching platform until 16 November.
About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.
Boosts Hong Kong as a regional trading hub for wine and spirits
– The three-day Fair concluded yesterday, attracting some 8,200 trade buyers from 61 countries and regions – 50 events and conferences held during the Fair helped facilitate trade and business networking – A lower duty rate for liquor, announced in the latest Policy Address, helps promote emerging Chinese baijiu to the international market
The 16th Hong Kong International Wine & Spirits Fair, organised by the Hong Kong Trade Development Council (HKTDC), concluded yesterday. The three-day Fair attracted some 8,200 trade buyers from 61 countries and regions. Yesterday’s public day attracted some 10,000 visitors aged 18 and above, who enjoyed fine alcoholic beverages from around the world and participated in master classes, tasting sessions, and seminars in the Wine Fiesta zone. This reflects the Fair’s important role as a trade and promotional platform.
Sophia Chong, Deputy Executive Director of the HKTDC, said: “This year’s Fair has attracted more than 8,200 trade buyers. The number of buyers from some countries and regions increased, including ASEAN countries such as Indonesia, Thailand, Malaysia, the Philippines and Vietnam, as well as Japan, Taiwan, Mainland China and more. Global buyers are keen to come to Hong Kong to participate in the Wine and Spirits Fair, promoting Hong Kong as a regional trading hub for wines and spirits.”
Ms Chong added: “The latest Policy Address announced a lower duty rate for liquor, which is expected to enhance the trade of high-end spirits. More than one quarter of exhibitors at the Fair brought spirits from around the world, including Chinese baijiu, whisky, vodka, brandy and more. We are glad to see that so many exhibitors and buyers interacted with each other, seizing the business opportunities brought about by the new policy.”
Importers, wholesalers, retailers and e-commerce buyers who attended the Fair included: Awin Barratt Siegel Wine Agencies from the United Kingdom; Grupo Alpom Importaciones SL from Spain; Le Clos (MMI) from the United Arab Emirates; ASC Fine Wine (Shanghai) Ltd, Beijing WJ E-Commerce Co, Ltd. and Vinehoo (Chongqing) Co. Ltd. from Mainland China; Mercian Corporation from Japan; Thevincsr from Korea; Luen Heng F&B Sdn Bhd from Malaysia; Wine Creek Pte Ltd. from Singapore; Thai Beverage Distribution Co Ltd from Thailand; Phu & EM Group from Vietnam and more.
Trading and marketing opportunities for spirits exhibitors This year’s Fair showcased a wide selection of Chinese baijiu from various regions, including Moutai and Zhenjiu from Guizhou, Fenjiu from Shanxi and “Zhongmao” from Sichuan. Exhibitors are capitalising on the Government’s reduction in liquor duty to expand their business opportunities.
Guizhou Jin Jiao Liquor Industry (Group) Co,. Ltd which specialises in high-end Chinese baijiu, reached a strategic agreement with Hong Kong distributor Wines up Shoppers Group. Guizhou Jin Jiao Liquor’s CEO Xu Xinzhou said that the anticipated collaboration amount is expected to reach at least RMB10 million in one year, helping the company expand its overseas market. Matthew Lun, CEO from Wines up Shoppers, said, “Chinese baijiu holds significant potential in the global Chinese market. We plan to capitalise on the Government’s recent reduction in liquor tax to tap into this market and promote Chinese baijiu, a traditional cultural product, throughout Southeast Asia and beyond.” Guizhou Jin Jiao also identified another Hong Kong buyer through the Fair, aiming to distribute its baijiu in Hong Kong. The two parties will negotiate a first-year business agreement valued at around RMB2 million.
Irish whiskey exhibitor Clonakilty Distillery Ltd made its first appearance at the Fair. Company founder Michael Scully said that they have identified about 30 potential buyers from around the world within a day and a half. “The slashing of liquor tax is excellent news, demonstrating to the world that Hong Kong is dedicated to establishing itself as a trading hub for premium wines and spirits in Asia,” he said.
“We met a major buyer who distributes alcoholic beverages in both Hong Kong and Mainland China, and we expect him to place an initial order of around EUR100,000 in which some of the high-end whiskies will benefit from the new taxation and enjoy a lower tax rate while being imported to Hong Kong. We believe that the tax reduction has significantly increased the interest of buyers.” Mr Scully also estimated that he could secure orders worth approximately EUR1 million within a few years through the Fair.
50 events were held during the Fair, with 12 of these related to spirits. At a seminar themed “A Review and Outlook of the HK Spirits Market (Taste Changes and Taxation)”, speakers noted that Hong Kong’s reduction of duty on high-end spirits has prompted many businesses in the industry to immediately lower their prices, which helps stimulate demand for spirits.
The Fair also presented fine wines from Mainland China, including wines from Ningxia, Yantai in Shandong, Xinjiang and Yunnan, as well as yellow wine from Shaoxing. Chateau Xianghai, a wine exhibitor from Xinjiang, connected with potential buyers from the United States as well as Malaysia and Vietnam from the ASEAN Region. The company’s General Manager Guo Cong said, “The Fair is an international platform providing us with numerous opportunities to expand into overseas markets.”
Diverse fine wines and spirits to meet buyer demand To meet consumers’ and buyers’ diverse preferences for alcoholic beverages, the Fair presented an extensive selection of global offerings. These included Old World wines from the Czech Republic, France, Germany and Italy, and New World wines from Australia, South Africa and the United States, as well as whiskey from Ireland. There were also dedicated buyers for sake, gin, plum wine and shochu from Japan, along with tequila from Mexico.
Participating for the first time in the Wine and Spirits Fair, Czech exhibitor THAYA vinarstvi, spol. s r.o. engaged with around 50 buyers in just one day and a half, with over 10 showing potential for collaboration. THAYA’s Chief Operating Officer, Ing. Vit Travnicek said, “The Sommeliers’ Picks is a great initiative. One of our white wines is featured on the list, and several buyers came specifically to source based on the list.”
He also mentioned that the company has just started to explore the Asian market. They have successfully connected with potential buyers from Mainland China, Hong Kong, India, Malaysia, Japan, Singapore and Vietnam during their very first time at the Fair, “We participate in eight wine exhibitions each year, and this one stands out as the most international.”
Sambath Sothea, CEO of Auskhmer Import Export Co., Ltd, a buyer from Cambodia, stated that he has a fruitful experience at the Fair and has identified four potential suppliers. He plans to purchase products worth approximately US$50,000, including Japanese sake and wines from Italy and Georgia.
Seminars explored consumer demands and sustainable development A seminar hosted by Master of Wine Debra Meiburg explored consumption trends and preferences among Gen Z and millennials, an emerging consumer group. Industry representatives speaking at the event noted that young adults have a strong preference for cocktails. The vibrant colours of cocktails are perfect for sharing on social media, allowing the industry to achieve significant promotional results.
Lan Kwai Fong (LKF) Concepts crafted a special cocktail, HK & Suit, for yesterday’s public day. Many visitors tried it, fostering a lively atmosphere.
Sustainability has become a significant industry trend. At a seminar on promoting sustainable wine, a renowned sommelier and alcoholic beverage manufacturer emphasised that providing information on sustainable wine and spirits-making would enhance consumer confidence in the market.
Under the EXHIBITION+ hybrid mode, buyers could use the Scan2Match function of the HKTDC Marketplace App to scan exhibitors’ unique QR codes during the physical exhibition. They could also bookmark favourite exhibitors, browse product information and continue discussions with exhibitors online after the show. Exhibitors and buyers can also engage in online business negotiations and matching through the Click2Match smart business matching platform until 16 November.
About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.
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