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
"Peak 10 is a national cloud data center solutions managed services provider, and part of that is disaster recovery. We see a growing trend in the industry where companies are coming to us looking for assistance in their DR strategy," stated Andrew Cole, Director of Solutions Engineering at Peak 10, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Judith Hurwitz is president and CEO of Hurwitz & Associates, a Needham, Mass., research and consulting firm focused on emerging technology, including big data, cognitive computing and governance. She is co-author of the book Cognitive Computing and Big Data Analytics, published in 2015. Her Cloud Expo session, "What Is the Business Imperative for Cognitive Computing?" is scheduled for Wednesday, June 8, at 8:40 a.m. In it, she puts cognitive computing into perspective with its value to the busin...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Everyone wants to use containers, but monitoring containers is hard. New ephemeral architecture introduces new challenges in how monitoring tools need to monitor and visualize containers, so your team can make sense of everything. In his session at @DevOpsSummit, David Gildeh, co-founder and CEO of Outlyer, will go through the challenges and show there is light at the end of the tunnel if you use the right tools and understand what you need to be monitoring to successfully use containers in your...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...