China's light industry ran smoothly in the first eight months of 2024, with the value added increasing 4.9 percent over the same period of last year, according to the latest data from the China National Light Industry Council.
Among the 91 major light industrial products counted by the National Bureau of Statistics, the output of 59 products increased from January to August, among which the output of 17 products including bicycles and lithium batteries maintained double-digit growth.
Driven by policies including large-scale upgrading of equipment and trade-in program for consumer goods, China's light industry has not only seen steady growth in production, but also continued to improve its profitability. In the first eight months, the operating income of light industrial enterprises above the designated size in China increased by 1.6 percent and the profits increased by 12.4 percent.
At the same time, exports remained stable with growth. In the eight-month period, the total exports volume of the entire light industry exceeded 600 billion U.S. dollars, a year-on-year increase of 3.5 percent. Among them, the growth rate of exports of household appliances and light industrial machinery exceeded 10 percent, further expanding the scale of the domestic and foreign trade markets.
China's light industry runs smoothly in first eight months
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
