************************************************************
Following is the speech delivered by the Financial Secretary, Mr John C Tsang, at the 2012 HK4As Kam Fan Awards Presentation Gala this evening (November 30):
Distinguished guests, ladies and gentlemen,
Good evening.
I am delighted to join you all for this year's HK4As Kam Fan Awards Presentation Gala.
The Kam Fan, or Golden Sail, awards are known as the Grand Prix of Hong Kong's advertising industry, and tonight we celebrate this year's champions.
So, first of all, congratulations to all the winners of the 2012 awards and a heartfelt thank you to the distinguished judges from around the world.
American writer Mark Twain once said, and I quote, "Many a small thing has been made large by the right kind of advertising." End quote.
On this note, I also would like to congratulate the HK4As on promoting the right kind of advertising in Hong Kong, by maintaining ethical standards and promoting service quality as well as providing a platform for discussion among stakeholders.
Hong Kong, with its high concentration of local and international businesses, unfettered media, free flows of information and creativity-minded people, has become an advertising Mecca in Asia.
Our city is a window to a highly sophisticated market, not just locally but also in the Mainland and around Asia. Here in Hong Kong, we have a jealously guarded reputation for producing and promoting high-quality goods and services. We also have a community that is eager to get its hands on the latest fashion trends and electronic gadgets.
Looking back, it was not so long ago that a tablet was something you got from your doctor. Today, you have to visit a computer store to find the latest brand of tablets. According to the advertising monitor admanGO, advertising spending on the new kind of tablets in Hong Kong increased four times to $100 million last year.
To use the Grand Prix analogy, Hong Kong is, indeed, an ideal circuit on which to test-drive the latest advertising concepts and techniques. This has attracted a strong presence of multinational agencies to our city and nurtured a deep pool of advertising talent.
According to the latest available figures, the advertising industry employed 18 000 people and contributed value added of $6.8 billion to our economy.
Despite the difficult economic conditions globally, advertising spending in Hong Kong continued to increase last year, and into this year. In 2011, total spending on advertising amounted to some $35.6 billion, a year-on-year increase of over 16 per cent.
Importantly, Hong Kong is the gateway to China, and this includes being a gateway for advertising services. Under CEPA, Hong Kong-incorporated advertising firms are able to establish wholly owned companies in the Mainland.
Advertisers in Hong Kong also have a deep understanding of the Chinese culture as well as the latest consumer trends in China. This is an important advantage in tapping the Mainland market and raising brand awareness in a country of 1.3 billion people.
Ladies and gentlemen, this year alone, Hong Kong advertisers have scooped 60 awards in three major international advertising awards programmes, including AdFest, Cannes Lions and Spikes Asia.
The HKSAR Government keenly supports the industry's development. Through our dedicated agency, Create Hong Kong, we have sponsored around 30 Kam Fan award winners to participate in international advertising festivals and competitions. This helps increase the international exposure and profile of our advertising industry.
I am sure that this year's Kam Fan award winners will continue to keep the Hong Kong flag flying high in local and international advertising markets.
Congratulations and have a great evening.
Thank you.
Ends/Friday, November 30, 2012
Issued at HKT 20:29
NNNN
Windows Media format
Flash format