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Starting in 2024, a doll named Labubu—with pointy little ears, devil-like large eyes, and a grin revealing nine sharp fangs—took the world by storm. In the first half of 2025, Labubu’s sales reached 4.8 billion RMB. What amazed the market about Labubu was not only its formidable money-making power, but also its unstoppable momentum in overseas markets.

Just as Labubu, a hot item in short supply not long ago, is losing steam, a new darling―the Japanese anime sensation Chiikawa―is taking centre stage, bearing witness to a typical star succession in action. Trend-following consumers have struggled to get their hands on the Labubu they crave, only to find that fashion now seems to be shifting to Chiikawa. Last Saturday marked the official opening in Hong Kong of a Chiikawa ramen restaurant, the first of its kind outside Japan. Reservations at the Mong Kok diner are already fully booked for the coming weeks, testifying to the popularity of the eponymous manga series.

Further to the 12.2 million visitor arrivals in Hong Kong registered in the first quarter of 2025, a new quarterly high since the coronavirus pandemic, Mainland’s Labour Day Golden Week ushered in another 1.1 million visitors, representing a 22% increase year-on-year. Of course, a rise in visitor numbers alone does not necessarily indicate that all is well. With a slackening global economy and consumption downgrade, many visitors come and go in a single day, while some have even “invented” a new money-saving travel strategy―spending the night at 24-hour fast-food restaurants.

How can Hong Kong’s creative industries shine on the global stage? Hong Kong has long been renowned for its intellectual property-linked commercial industries, such as local handmade figurines and models. This, in turn, has nurtured many outstanding artists. Lung Ka-sing, for example, creator of the popular Labubu toy line, hails from Hong Kong. He was brought to fame thanks to Pop Mart, a Mainland company that picked Lung and showcases the strength of Hong Kong’s local creativity. In an interview with TVB News, Dr. Tingting Fan from HKU Business School explained that Pop Mart has fully integrated its online and offline channels. Offline stores are designed to attract consumers and introduce them to the toys. She remarked, “When someone buys [a Labubu toy], the company then uses online channels to learn more about this customer’s shopping preferences. In my opinion, this is exactly what Hong Kong needs: a more sophisticated and comprehensive business model [like Pop Mart’s].” Dr. Fan also suggested that the government should provide platforms to boost exposure for local artists, helping to propel Hong Kong’s creative industries to new heights.

When it comes to the trendiest collectible today, it’s not Chanel or Taylor Swift — it’s Labubu, the sharp-eared, wide-eyed character with its signature nine fangs!

The pandemic has severely impacted cinemas in Hong Kong, with 16 theatres closing their doors. The rapid rise of streaming platforms like Netflix and Disney+ has made it easier for viewers to enjoy films at home, increasing pressure on cinemas. With ticket prices often exceeding over hundred dollar, streaming services offer a wealth of content for a similar cost, drawing many audiences away.

In 2023, AI has generated over 100million songs, and it is estimated AI will take over 50% of the music market by 2030. AI technology has opened up a new era in music creation, allowing anyone to generate music through a few text commands, challenging the music industries. However, the record companies shouldn't reject AI. Instead, they can seek new business models to reshape the industry with AI.

In 2023, AI has generated over 100million songs, and it is estimated AI will take over 50% of the music market by 2030. AI technology has opened up a new era in music creation, allowing anyone to generate music through a few text commands, challenging the music industries. However, the record companies shouldn't reject AI. Instead, they can seek new business models to reshape the industry with AI.

Have you watched "Twilight of the Warriors: Walled In" yet? This local action movie, released earlier this month, ranks second in the box office among Chinese movies in Hong Kong's film history. Starting as a novel, it was turned into a comic series, then later adapted into a film. The commercial value of this creative franchise continues to rise, thanks to the business model of intellectual property (IP).