It's not just baby boom; it's dragon baby boom.

The reason is simple: Chinese across the world believe children born during the Year of the Dragon -- the symbol of ancient emperors -- will possess courage, wisdom and good fortune, and Hong Kong is of no exception. Those lucky babies are expected to give a handsome boost to related industries here.

In the previous dragon year in 2000, a total of 54,134 births were logged in Hong Kong, official data showed. The city's Hospital Authority said in an earlier estimate that Hong Kong is set to welcome upwards of 80,000 newborns this year under the stimulation, marking a 5-10 percent rise from last year.

Nanny services are one of the sectors most feeling the heat. At a job fair held in the Hong Kong Convention and Exhibition Centre in January, the maternity nannies are among the best paid jobs, with salaries in a range of 8,000-14,000 Hong Kong dollars.

A spokesperson of EasyHome Services, an in-home care services provider, said the demand for maternity nannies has been robust since last year, but this year it's surely going to be stronger, and that the company's quota has been fulfilled in the first quarter of 2012 with few available in the next three months.

Grace Ng Sing-ying, principal consultant of the BBcare Health Service Centre told Xinhua that thrilled moms-in-waiting begin looking for and making an appointment with maternity nannies soon after they were confirmed pregnant, instead of entering at least the second trimester as usual.

For nannies working for 48-hour six-day per week, the base monthly pay has been hiked to 12,000 Hong Kong dollars from 8,500 Hong Kong dollars due to the tight market.

Lui Fung-Kuen, a professional maternity nanny from the Centre, said she led an onerous timetable till August-end, and might be able to receive new clients from October at the earliest.

The passion of couples gunning for babies betokens their willingness to spend lavishly on their deary. The dragon babies clearly become the apple of the eyes of businesses making and selling powder formulas, baby food, nursing bottle, toys, baby clothes, skin care products, accessories, etc. Analysts say the relevant companies are ready to reap a big profit from it.

According to a report by the Chinese Mother Consumer Survey in 2011, over 70 percent of the respondents say they are generous with money to give their offspring a better life. Young mothers, especially those in their 20s, are unhesitating spenders although the prices of baby-related products have significantly increased.

A Mr. Wong told Xinhua he had already spent several thousands on preparations for the arrival of a new family member, his second child.

"The cost of raising this child is likely to be triple that of my first kid. Sweet burden, though," he said while choosing a gold bracelet in the Chou Sang Sang Jewellery for his dragon baby.

Song Zhenghai, Chairman and CEO of Goodbaby, a leading manufacturer of children's products, said he is confident of a double-digit rise of sales this year thanks to a higher birth rate.

Li Zhenhui, CEO of the Prince Frog International Holdings Ltd, a manufacturer and distributor of children care products and household hygiene products in China, shared the feeling. The company will use this opportunity to expand investment and promote the production and sales of products for 0-3 year-old age group, he said.

Institutional and retail investors holding high expectations for the birth drive believe baby-related listed companies will stay in the black and have a bullish performance in terms of stock prices, but analysts warn of looming bubble.

Pegasus Fund Managers Managing Director Paul Po Lam Pong said in recent days baby concept stocks have already been stirred up, and their stock prices have posted some gains, thus the opportunity for more vast advances is limited.

Dragon babies in droves, however, will also bring about some predictable but not-so-desirable problems, above all the strain put on the family, society and even the little dragons themselves. Despite the pressure, many couples seem to forge ahead with their plan. With the dragon year about 11 months left, they just can't afford to risk any chance. (1 Hong Kong dollar = 0.13 U.S. dollar)

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