Exhibition centre extension plan backed

The Hong Kong Government has announced that it will permit the HK Trade Development Council to go ahead with its controversial proposed extention of the Hong Kong Convention & Exhibition Centre in Wanchai. The additional 19,400 square metres of space will allow the TDC to expand its large Spring and Autumn sourcing fairs in the face of new competition from Global Sources' China Sourcing Fairs which will be launched at the new AsiaWorld-Expo venue at Hong Kong's airport next year.

The TDC's next task will be to raise the HK$1 billion needed from bankers. No word yet on timing although we assume the TDC will want to press on with this.