The 25th Macau International Trade and Investment Fair (MIF), Macau Franchise Expo 2020 (MFE) and 2020 Portuguese Speaking Countries Products and Services Exhibition (Macau) (PLPEX), which are running concurrently, started yesterday, and 52 contracts were signed on the first day, the Macau Trade and Investment Promotion Institute (IPIM) said in a statement yesterday.
The events will run until tomorrow at the Venetian Expo Hall A-C.
According to the statement, Kimberley Trading, a local company which operates high-quality convenience stores in Cotai, signed four contracts yesterday. The company’s Vice President of Operations Kenny Lao Ka Kei told reporters yesterday at the event that his firm has six more companies that could be interested in signing a contract with him.
The triple exhibition invited Ocean Engine’s Senior Director Wang Jianfei as a guest speaker today. Ocean Engine is a company under ByteDance.
Wang told reporters at the event that offline exhibitions could only help short-term promotions but an online expo would reach more people and have a more long-lasting effect on the business.
When asked about his thoughts on Macau’s virtual business sector, Wang said that in terms of online “content business”, Macau was considered “outdated” compared to the mainland. He said that his company’s two biggest platforms, TikTok and TouTiao, both use “content” to run their business, adding that Hong Kong and Macau’s content creativity was not mature enough.
Wang said that for content businesses like TikTok, they have a massive data base and with the help of algorithms the media could show “quality contents” that are well-received by viewers. He added that his company used a mechanical way to define “good content”, such as number of views, number of likes and shares. He said that through this mechanical way the platform eliminated “low quality” contents and promoted the “high-quality ones”.
When asked how Macau people could grow their “content businesses”, Wang said that Hengqin would be a good place to start because it could help growing connections with the mainland. He said that if Macau companies would like to work on the “content business”, they should first collect data, pointing out that there are a lot companies in the mainland that can provide customers with a suitable algorithms.
Fairgoers visit booths at the 25th Macau International Trade and Investment Fair, Macau Franchise Expo 2020 and 2020 Portuguese Speaking Countries Products and Services Exhibition (Macau) at the Venetian Expo Hall yesterday. Photo: Prisca Tang
Senior Director of Ocean Engine, a company under ByteDance, Wang Jianfei, talks to reporters yesterday on the sidelines of the triple exhibition. Photo: Monica Leong
