Welcome!

News Feed Item

Marginal Growth Likely for Hong Kong Exporters in 2013

HKTDC Research Launches Integrated Multimedia Portal

Hong Kong, Dec 7, 2012 - (ACN Newswire) - Hong Kong exporters face a number of challenges in the coming year, including the possibility of a renewed downturn in the global economy, increased protectionism, and escalating geopolitical tensions, notably with respect to the territorial flare-up between the Chinese mainland and Japan. The Hong Kong Trade Development Council (HKTDC) expects that Hong Kong exports in 2013 will grow by four per cent in value and just one per cent in volume.

Speaking today at a press conference, HKTDC Director of Research Edward Leung said that global trade is expected to improve only marginally in 2013. He noted that the HKTDC Export Index had dropped for the second consecutive quarter, to 31.6 in the fourth quarter. The HKTDC Export Index is designed to monitor the export performance of Hong Kong traders and gauge their near-term prospects. A reading below 50 indicates a pessimistic sentiment during the quarter and signals a contraction in Hong Kong exports over the short term.

"All major industries recorded readings below the watershed of 50, though the sentiment for timepieces and machinery exporters improved," Mr Leung said. "Exporters remained pessimistic towards all major markets. The index for the mainland edged down slightly, to about 45, while the index for the US increased slightly, to 40.8."

Global Concerns

With production costs on the mainland, particularly labour costs, likely to stay high, the confidence level of Hong Kong exporters remains low. The biggest threat to Hong Kong's export outlook, however, is a renewed downturn of the global economy caused by the European Union's debt crisis. Mr Leung said that any major shock in the Eurozone could have profound effects on the global economic and trade environment.

Mr Leung cautioned that the world economy will grow slowly next year, probably at a rate slightly higher than that of this year. "Developed economies will see growth in a slower lane, inevitably putting a drag on emerging economies. Yet emerging economies will continue to fare relatively better," he added.

The mainland will continue to be the bright spot in the global economy, according to Mr Leung. "The Chinese economy is bottoming out, and there are some short-term measures to stimulate private consumption. In the longer run, income re-distribution measures will also help to raise consumption on the mainland."

He noted that abundant business opportunities existed in developing Asia, especially India and Indonesia. "These markets are large in size, strong in growth and making headway in reforms and liberalisation," he said.

Hello Dubai

Despite political unrest in the Middle East, business in Dubai has not been adversely affected. "Money from neighbouring countries continues to flow into Dubai, which plays an important hub role for capital and trade flows," said Mr Leung. As for Africa, countries like Nigeria, Ghana and Kenya offer long-term potential for Hong Kong business, he added.

Asian Promise

Still, the best prospects remain in Asia, according to Mr Leung. "Our manufacturers and traders should look to developing sales on the mainland," he said. "Beyond the Chinese mainland, we should diversify to other new markets. We cannot ignore the long-term potential offered in the new markets of Africa."

"More capable manufacturers and traders should commit additional resources to developing brands, either by organic growth or acquisitions," he added. "Others should place more emphasis on design and maintain consistent good quality. To lower production costs, they can look to automation or even relocation, not just within the mainland but also to Myanmar and other Asian countries."

Down the China Road

The press conference also included video interviews with two high-profile economists. Professor Justin Lin, the former World Bank Chief Economist, said that the mainland has the potential to grow eight per cent annually over the next 20 years.

Professor Francis Lui, Head of Economics at the Hong Kong University of Science and Technology, added that the rising economic power of Guangdong Province could help both Hong Kong and Guangdong better understand their competitive advantages.

The webcast interviews with Professor Lin and Professor Lui are available at http://www.hktdc.com/info/webcast/v/en/en/1X04BKFX/ and http://www.hktdc.com/info/webcast/v/en/en/1X04BKGW/

HKTDC Research

The multimedia intelligence service HKTDC Research ( www.hktdc.com/Research ) was also launched at the press conference.

"Mobile devices have changed the way people, and companies, access information," said Mr Leung. "To better serve Hong Kong SMEs, the HKTDC is also adapting to this trend through its new multimedia research portal."

The site contains more than 50,000 articles, categorised into seven areas: Economists' Picks, China Trade, Hong Kong Economy, Developed Markets, Emerging Markets, Products and Services. "Unlike our print reports, the new online content features shorter articles, allowing users to download individual chapters or sections. More multimedia content has been incorporated to enhance interactivity," Mr Leung added.

About HKTDC

A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 global offices, including 11 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and on the mainland, while providing information via trade publications, research reports and online. For more information, please visit: www.hktdc.com . Follow us on Twitter @HKTDC.

Source: HKTDC

Contact:
HKTDC
Corporate Communication Department
Joe Kainz
Tel: +852 2584 4216
Email: [email protected]




Copyright 2012 ACN Newswire. All rights reserved.

More Stories By ACN Newswire

Copyright 2008 ACN Newswire. All rights reserved. Republication or redistribution of ACN Newswire content is expressly prohibited without the prior written consent of ACN Newswire. ACN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
In the rush to compete in the digital age, a successful digital transformation is essential, but many organizations are setting themselves up for failure. There’s a common misconception that the process is just about technology, but it’s not. It’s about your business. It shouldn’t be treated as an isolated IT project; it should be driven by business needs with the committed involvement of a range of stakeholders.
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
SYS-CON Events announced today that EastBanc Technologies will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. EastBanc Technologies has been working at the frontier of technology since 1999. Today, the firm provides full-lifecycle software development delivering flexible technology solutions that seamlessly integrate with existing systems – whether on premise or cloud. EastBanc Technologies partners with p...
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
SYS-CON Events announced today BZ Media LLC has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. BZ Media LLC is a high-tech media company that produces technical conferences and expositions, and publishes a magazine, newsletters and websites in the software development, SharePoint, mobile development and Commercial Drone markets.
Cloud computing changed data analytics for good. It enabled companies to drastically decrease resources and architecture previously assigned with business intelligence departments. It also enabled laymen to run advanced business analytics. Cloud was also the architecture of choice for storing and processing big data. Data piling is a continuous process, which is going to explode with emerging Internet of Things concept. Answer to this issue developers found in new concept called fog computing. ...