Central Market Attracts 3 Million People in First 2.5 Months Phase Two Now for Lease, Set to Open in Mid-2022
Chinachem Group (the Group) is pleased to report that the revitalised Central Market has drawn over three million visitors in its first two and a half months of operation since its soft opening in late August. The Urban Renewal Authority Board has approved the tender award to Chinachem Group as the main operator of the Central Market Revitalisation Project for a period of 10 years. Donald Choi, Executive Director and Chief Executive Officer of Chinachem Group, said: “The revitalised Central Market has become a new community cultural hotspot in Hong Kong and appeals to people of different age groups. More than 400 community and joint activities were held in the past few months, attracting nearly 200,000 participants. Phase One of the project saw a very satisfactory take-up rate of 95% with some 100 tenants. Phase Two is now available for lease and is expected to open for (full) operation in the middle of next year.” “With more tenants moving in and the festive season around the corner, we expect the footfall and sales to climb up further. Looking into the future, Central Market will continue its cultural legacy whilst embracing the spirit of innovation. We will further enhance the support facilities for Central Market and strive to create an approachable, vibrant and gregarious landmark which boasts unique experiences for visitors and features a communal space that fosters communications, connections and community building.” More exciting events are in the pipeline, including Urban Market – Less is More, Christmas With Heart, and Central Countdown and more.
Chinachem Group and HKSTP Select 10 Tech Ventures in Pilot-first Accelerator to Test Drive Proptech Innovations at Central Market
Chinachem Group (the Group) and Hong Kong Science & Technology Parks Corporation (HKSTP) took another step forward in its pioneering pilot-first accelerator programme today by announcing the first cohort of 10 selected tech ventures who will test and develop ‘proptech’ innovation at the revitalised Central Market. The “CCG Accel – Powered by HKSTP” accelerator provides the shortlisted tech ventures with the exclusive opportunity to develop pilot solutions in collaboration with Chinachem Group to ensure they can deliver market-ready solutions prior to general adoption. This pioneering “pilot-first” approach allows tech ventures to install and test solutions in a real market environment even at concept stage. This is a huge advantage and accelerates the product development process, while closing the critical gap between ideation and commercialisation which halts many early-stage ventures. The process allows tech ventures to collect valuable data and instant user feedback so that they can strengthen the opportunities for adoption. Cohort 1 participants will focus on proptech-related solutions that address property-based challenges at Central Market in the areas of visitor experience, environment and sustainability, as well as operation and facility management. Pilot testing will take place from September to December 2021, with a final demo day in January 2022 when all participating tech ventures will showcase their solutions. By collecting real-life data through trials at Central Market, the final winning innovations may be adopted within Central Market itself and help revitalise the 82-year-old building into a 21st century marketplace blending old and new. 10 selected tech ventures will test and develop proptech-related solutions that address challenges in the areas of visitor experience, environment and sustainability, as well as operation and facility management at the revitalised Central Market. (From left) Negawatt Utility Limited CEO and Co-founder Arthur Lam, APICEM Technology Services Company Limited (ATS) CEO Ahim Kho, Optical Sensing Limited CEO Matthew Lam, I2Cool Limited Co-founder Martin Zhu, RV Automation Technology Company Limited Marketing Manager Paris Cheng, Rice Robotics Limited Head of Product and Technology Sophiya Chiang, Dayta AI Limited CEO & Co-founder Patrick Tu, Dayta AI Limited CTO & Co-founder Eugene Ho, Megasoft Limited COO CY Choi, Tech Hill Limited CTO Mok Wai Pong, Novelte Robotics Limited CMO Albert Lam. Donald Choi, Executive Director and CEO, Chinachem Group, said: “Chinachem Group is excited to be working with HKSTP to support high-potential tech ventures and their innovations that can make Hong Kong a better place to live, work and play for our future generations. The Group’s expertise and wide portfolio of commercial properties provide the ideal testing and development opportunities for innovation to thrive. We believe this can accelerate smart city development in Hong Kong and benefit people, prosperity and planet.” Albert Wong, CEO, HKSTP said: “This unique pioneering partnership with Chinachem Group is a continued extension of the HKSTP I&T ecosystem to new locations in Hong Kong and will help innovators fast-track their ground-breaking ideas into fully-tested solutions ready for market adoption. We constantly seek new ways to smooth tech ventures’ path to success and this programme will spur more successful innovation while also propelling Hong Kong’s smart city vision with smart property and retail solutions.” The existing Central Market building was an epoch-making piece of architecture when built 80 years ago. Its spirit of innovation lives on in the revitalised market through initiatives including support for high-potential local tech ventures through a pilot-to-mass adoption process and promotion of STEAM learning to nurture the creative thinking of the next generation. Featuring a series of three themed cohorts, the “CCG Accel – Powered by HKSTP” accelerator will use designated Chinachem Group properties as a testing stage in each cohort as the innovators are tasked to solve property-based challenges. CCG will also assign mentors to each programme participant and provide industry insight and knowledge to refine their solution with the participating tech ventures. HKSTP will also facilitate a programme of training sessions during the pilot period to equip the selected tech ventures with diverse technology and business skills. The tech ventures will benefit from direct access to HKSTP’s extensive ecosystem and value-added services. This new model of partnership helps visualise the effectiveness of the property-specific solutions more easily, while end users can gain immediate benefits from the innovations. Successful innovations from the accelerator may also be selected for further adoption and investment by the Group. Chinachem Group Executive Director and CEO Donald Choi (7th from right), Hong Kong Science and Technology Parks Corporation CEO Albert Wong (7th from left), Chinachem Group Director of Business 10 selected tech ventures will test and develop proptech-related solutions that address challenges in the areas of visitor experience, environment and sustainability, as well as operation and facility management at the revitalised Central Market. (From left) Negawatt Utility Limited CEO and Co-founder Arthur Lam, APICEM Technology Services Company Limited (ATS) CEO Ahim Kho, Optical Sensing Limited CEO Matthew Lam, I2Cool Limited Co-founder Martin Zhu, RV Automation Technology Company Limited Marketing Manager Paris Cheng, Rice Robotics Limited Head of Product and Technology Sophiya Chiang, Dayta AI Limited CEO & Co-founder Patrick Tu, Dayta AI Limited CTO & Co-founder Eugene Ho, Megasoft Limited COO CY Choi, Tech Hill Limited CTO Mok Wai Pong, Novelte Robotics Limited CMO Albert Lam.
Chinachem Group Supports Child Development Matching Fund to Combat Intergenerational Poverty
The prolonged COVID-19 pandemic has adversely affected many people’s livelihoods and further entrenched inequalities of income, health and education across the city. Hong Kong is one of the wealthiest cities in the world, yet the city’s poor families have doubled in number over the past two years, with almost 302,000 people living in low-income households at the end of March 2021. To help address the issue of intergenerational poverty and other deprivations, as well as reduce inequality and spur economic growth, Chinachem Group (the Group) has donated a matching sum of HK$960,000 to the Child Development Matching Fund (CDMF) to benefit 200 young people in the Tsuen Wan and Kwai Tsing Districts for the year 2019/20, equivalent to HK$4,800 each. The Group takes seriously its role as a partner and supporter of local communities and strives to bring positive change to those in need and support the community through the challenges brought about by the pandemic. The Group has been a long-time supporter of the CDMF, which was founded in 2009 to address the issue of intergenerational poverty in Hong Kong and support and complement the HKSAR Government’s Child Development Fund (CDF). The CDMF provides valuable support for underprivileged youth in society. It runs three-year programmes during which the participants, aged 10 to 16, are required to make personal savings of HKD200 per month for two years, amounting to HKD4,800 in total. These personal savings are matched by community donations, including the Chinachem matching fund, plus a Government bonus of equal amount. This means that the young people will ultimately have a total of HKD14,400 (HKD4,800 x 3) to spend on areas that support their personal growth and development. To connect with some of the outstanding beneficiaries in the Tsuen Wan and Kwai Tsing Districts and mark the finale of the 2019/20 programme, four participants along with their families and their mentors were recently invited to a tea gathering ceremony at Nina Hotel, where they were joined by the Chairman and other officers of CDMF, as well as representatives of Chinachem Group and CDF operator The Praise Assembly (Tsuen Wan). During the ceremony the four youngsters shared how they used their matching fund to support their growth and development, ranging from computer programming, language learning to the purchase of facilitating equipment. James Cheung wishes to become a computer engineer in the future. He spent part of his matching fund in a computer programming and game design course. Stella Kao wants to work in the medical field after her graduation. Her wish is to join an international rescue service. She spent some matching funds to enrich her foreign language abilities so she can have better communication skills when working overseas. Wing Wong wishes to develop her future career in the art and multi-media industries. She applied for a course in film-editing and bought some related software to enhance her computer to practice the relevant skills. Another youth Yen Wong, on the other hand, used part of her matching fund in a music course to improve her flute performance skill. Four beneficiary youths from the Tsuen Wan and Kwai Tsing Districts presented on behalf of CDMF a written poem to Chinachem Group which celebrates the 60th anniversary as a token of appreciation. Pictured here are Sylvia Chung, Chief Business Impact Officer of Chinachem Group (7th from right), Amy Chan, Chairman of Child Development Matching Fund (6th from right), Mary Wong (8th from right), Director of Legal of Chinachem Group, Manson Wu, Director of Child Development Matching Fund (7th from left) and representatives of Chinachem Group, CDMF and representatives from The Praise Assembly (Tsuen Wan). Sylvia Chung, Chief Business Impact Officer of Chinachem Group, noted during the tea gathering that the prolonged pandemic had continued to deal heavy blows to local economic activities. “We have supported the CDMF since 2018. As a part of the community, the Group understands the importance of being inclusive and supportive of the needs of its neighbours, in this case young people in the Tsuen Wan and Kwai Tsing Districts,” she said. “Two key areas of our community programmes focus on relief of poverty and the advancement of education. Through this programme, we hope our targeted youths can develop good savings and financial habits, to make better planning for their future. We always aim to make a positive contribution to society through our adherence to the ‘Triple Bottom Line’, a commitment that all our activities will benefit People, bring Prosperity to the community and preserve the Planet.” Explaining the work of CDMF, its Chairman Amy Chan said “CDMF helps youths build ‘tangible assets’ through building a savings habit and learning wealth management. CDMF also opens opportunities for them to build ‘intangible assets’. All CDMF beneficiary youths, once they reach the aged of 16, will be placed with different industries for work experience arranged by the Child Development Initiative Alliance, a CDMF strategic partner, to widen their exposure and horizons, and enhance their soft skills for upward mobility, eventually enabling them to come out of poverty. We are extremely grateful to Chinachem Group for supporting this poverty alleviation policy. This will bring a positive impact to our needy youths and help them develop talents for the sustainable growth of our economy. This is made possible by the tri-partite co-operation between the Government, business and the community to nurture our next generation.” For more information on how the Chinachem Group is caring for local communities, please visit its website. CDMF beneficiary students, James and Stella present their journey and their experience gained during the programme and soft skills and tangible assets they gained.  Hong Kong’s First Quarter Economic Report 2021. https://www.legco.gov.hk/yr20-21/english/panels/fa/papers/fa20210607cb1-963-3-e.pdf