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Hong Kong:Textile industry to remain unaffected by
trade row between Sino – China |
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2005-6-8
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Hong Kong government official and industry veterans said that the dispute between China and the EU over textile would have affect very little on Hong Kong''s textile industry and the economy.
Appraising over the impact of the increasing textile trade clashes between the two countries on Hong Kong''s economy, the government economist Kwok Kwok-chuen stated that the impact is varied or can be proven advantageous to Hong Kong to some extent.
"The mainland''s textile re-exports through Hong Kong only accounted for 4 per cent of the SAR''s total exports last year."
Predicting on the uncertainty of the trade dispute tend some manufacturers to relocate units back to Hong Kong, that might boost Hong Kong''s textile industry.
Domestic demand accounts for about 70 percent of textile industry growth, and as Hong Kong’s economy is turning more consumer driven instead of investment driven, the domestic market will be able to consume most of its production outputs. |
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