|By ACN Newswire||
|December 7, 2012 05:17 AM EST||
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."
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.
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.
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."
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/
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.
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.
HKTDC Corporate Communication Department Joe Kainz Tel: +852 2584 4216 Email: [email protected]
Copyright 2012 ACN Newswire. All rights reserved.
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
Aug. 30, 2016 01:15 AM EDT Reads: 2,276
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Aug. 30, 2016 01:00 AM EDT Reads: 1,926
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Aug. 30, 2016 12:00 AM EDT Reads: 1,662
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Aug. 29, 2016 10:15 PM EDT Reads: 302
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Aug. 29, 2016 10:00 PM EDT Reads: 2,486
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Aug. 29, 2016 08:30 PM EDT Reads: 2,440
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
Aug. 29, 2016 08:15 PM EDT Reads: 1,869
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Aug. 29, 2016 08:00 PM EDT Reads: 914
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Aug. 29, 2016 07:00 PM EDT Reads: 1,980
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Aug. 29, 2016 06:45 PM EDT Reads: 840
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Aug. 29, 2016 06:15 PM EDT Reads: 796
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
Aug. 29, 2016 06:15 PM EDT Reads: 333
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Aug. 29, 2016 04:30 PM EDT Reads: 3,567
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Aug. 29, 2016 02:15 PM EDT Reads: 3,745
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
Aug. 29, 2016 02:00 PM EDT Reads: 1,011