The 25th Macao International Trade and Investment Fair (MIF), Macao Franchise Expo 2020 (MFE) and 2020 Portuguese Speaking Countries Products and Services Exhibition (Macao) (PLPEX), which are running concurrently, started on Thursday, and 52 contracts were signed on the first day, the Macao Trade and Investment Promotion Institute (IPIM) said in a statement on Thursday.
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 on Thursday. The company’s Vice-President of Operations Kenny Lao Ka Kei told reporters on Thursday 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 marketing platform 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on Macao’s virtual business sector, Wang said that in terms of online “content business”, Macao was considered “outdated” compared to the mainland.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 Macao’s content creativity was not mature enough.
Wang said that for content businesses like TikTok, they have a massive database 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 Macao 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 Macao companies would like to work on the “content business”, they should first collect data, pointing out that there are a lot of companies in the mainland that can provide customers with suitable algorithms.