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BUSINESS GOVirtual Expo & Conference 2022

BUSINESS GOVirtual Expo & Conference (BUSINESS GOVirtual), the Hong Kong's first physical B2B "Tech x Business" event in the post-pandemic period, gathers leading IT companies and solutions providers under one roof to demonstrate their latest technologies. It is also the platform where showcases the key technological advancements for social and business engagement in the new digital era. The development of the Greater Bay Area is accorded the status of critical strategic planning in the Chinese government's blueprint, with great significance in China's initiative on innovation-driven development. Strategically held in Hong Kong, the international innovation and technology hub, BUSINESS GOVirtual serves as a communication platform for tech companies to exchange ideas, collaborate and foster partnerships. On top of the physical event, the brand new "GOVirtual OMNI," an online platform for the Expo and Conference, welcomes regional exhibitors and visito

August retail sales up 11.9%

The value of total retail sales in August, provisionally estimated at $28.6 billion, rose 11.9% compared with the same month in 2020, the Census & Statistics Department announced today.   Of the total retail sales value in August, online sales accounted for 7.4%. Provisionally estimated at $2.1 billion, the value of online retail sales increased 16.5% year-on-year.   After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales for the month increased 10.6% compared with a year earlier.   The value of sales of jewellery, watches and clocks and valuable gifts increased 28%.   This was followed by sales of electrical goods and other consumer durable goods, not elsewhere classified (+10.1% in value); food, alcoholic drinks and tobacco (+1.3%); other consumer goods, not elsewhere classified (+30.7%); commodities in department stores (+7.5%); wearing apparel (+35.7%); medicines and cosmetics (+13.6%); fuels (+21%); furniture and fixtures (+6.5%); books, newspapers, stationery and gifts (+27.9%); footwear, allied products and other clothing accessories (+62.3%); Chinese drugs and herbs (+26.7%); and optical shops (+60.4%).   The value of sales of commodities in supermarkets decreased 8% for the period, followed by sales of motor vehicles and parts (-0.4% in value).   The Government said the year-on-year growth in the value of total retail sales picked up notably in August, thanks to the boost from the Consumption Voucher Scheme (CVS). The stable local epidemic and improved labour market conditions also contributed.   Looking ahead, the Government noted that the CVS should continue to bode well for local consumption sentiment in the rest of the year.   Nevertheless, keeping the epidemic under control remains pivotal to a full-fledged recovery of the retail sector and the overall economy. It is thus essential for the community to strive towards more widespread vaccination, it added.
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