In the Media

Earlier, the U.S. and China engaged in tariff talks in Geneva and unexpectedly reached a consensus for a truce, temporarily lowering tariff rates to levels prior to the so-called "Liberation Day" in the U.S. However, the global situation remains difficult to restore to its previous state. U.S. President Trump has been employing so-called negotiation tactics, fluctuating offers between high and low, and using both genuine and deceptive strategies to create negotiation space for his side. Yet, due to a lack of confidence and logical inconsistencies, the trade war resembles a poorly executed circus act, pushing the global economic policy uncertainty index to a historic high.

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.