Hong Kong has developed an extensive cluster of media and creative-related industries that use the city as their regional hub. The city is also one of the world’s largest TV and film exporters. Hong Kong films and TV content have captured a significant share of the film markets of South Korea, Taiwan and southeast Asia. Its animation, special effects and comics industries have earned an international reputation.

The creative industries sector plays an important part in Hong Kong’s economy and it is a strong driving force for the territory’s future development. There are an estimated 32,000-plus companies employing about 170,000 people in the diverse range of businesses which make up the creative industries sector in Hong Kong, creating an added value to Hong Kong’s Gross Domestic Product (GDP) of more than HK$60 billion annually, representing about four percent of GDP. There is considerable opportunity for growth for creative industries in Hong Kong given that the sector accounts for eight and seven percent of GDP, respectively, in the US and the UK.

The broad spectrum of Hong Kong’s creative industries ranges across: advertising, animation, architecture, art and culture, broadcasting, design, film and music, games, media and multi-media. Much of the sector’s growth is fuelled by Hong Kong being Asia’s regional business hub and the strong presence in the city of multinational corporations as well as many small and medium scale enterprises.

The Hong Kong Government is focused on further developing the sector and building up Hong Kong as Asia’s cultural and creative capital. In June 2009, it set up CreateHK, a dedicated agency charged with helping drive the development of the creative economy in Hong Kong and overseeing the management of a range of funding programmes. It has committed to the development of the West Kowloon Cultural District, a 40-hectare waterfront site that will be an integrated art, cultural and entertainment area. Meanwhile, the Government will continue to invest in the supporting infrastructure including world-class IT and telecommunications and robust intellectual property protection. It will also help develop demand in the sector by building a Hong Kong brand that stands for excellence, quality and creativity, while continuing to widen the access of Hong Kong businesses to the Mainland under the Closer Economic Partnership Arrangement (CEPA).