|By ACN Newswire||
|March 17, 2014 05:54 AM EDT||
HKTDC Export Index for First Quarter Rebounds Sharply
Hong Kong, Mar 17, 2014 - (ACN Newswire) - The Hong Kong Trade Development Council (HKTDC) announced today that its Export Index for the first quarter of 2014 had rebounded sharply from the previous quarter, climbing to 48.1. Despite the rebound, however, HKTDC Director of Research Nicholas Kwan pointed out that the index was still below the watershed of 50, indicating that export sentiment for the immediate future remained slightly pessimistic.
Machinery performed best among the industry sub-indices, rebounding from 39.9 in the previous quarter to 52.1. The indices of other industries, including electronics, clothing, toys, jewellery and timepieces, also rose. In individual markets, the indices for Japan and the Chinese mainland climbed back to the above-50 level, both registering 51.1. The indices for the United States and the European Union increased to 48.9 and 48.1 respectively.
ASEAN Export Promise
The data, according to Daniel Poon, the HKTDC's Principal Economist (Global Research), revealed good prospects for Asia's export markets. In addition to the mainland and Japan, he noted that the markets of ASEAN warrant more attention from Hong Kong companies. This year, in a bid to strengthen economic and trading ties with ASEAN, the Hong Kong Government will begin negotiations for an ASEAN-Hong Kong Free Trade Agreement.
Representatives from the HKTDC's Research Department recently visited two ASEAN countries, Indonesia and Malaysia, to gain an understanding of the situation on local economic development and business prospects for Hong Kong companies. The Asian Development Bank predicts that ASEAN's GDP will grow 5.3 per cent, and for good reason, according to Mr Poon.
"Estimated at 150 million, ASEAN's middle-class constitutes a quarter of the population and is still growing. Its middle class will be a driving force in the development of consumer markets and organised retail channels," said Mr Poon. He added, however, that economic levels within ASEAN varied widely, with per capita income ranging from Myanmar's US$900 to Singapore's over US$50,000.
"In considering ASEAN market opportunities, Hong Kong companies should look carefully at the countries' varying economic strengths and the consumer market environment in each," said Mr Poon.
Indonesia boasts Southeast Asia's biggest economy and its largest population. It also features an expanding middle-income class and a young population, together with increasing domestic consumption.
Indonesian Consumer Spending
The HKTDC's Dickson Ho, Principal Economist (Asian and Emerging Markets), pointed out that Indonesian consumer spending on non-food items has been fast expanding in recent years. "Particularly for such non-essential items as home appliances, jewellery and timepieces, the rates of spending growth are much higher than ASEAN averages," he said. Mr Ho believes that Hong Kong's well-designed products and excellent services are a natural fit with Indonesia's mid-to-high income class and its booming retail industry.
Malaysia's per capita GDP is more than US$10,000, the third-highest in ASEAN. As in Indonesia, the rise of Malaysia's middle class has expanded the country's domestic retail market. Demand is strongest for mid-to-upmarket products, including clothing, gifts, jewellery and timepieces, as well as electronics and personal-care products.
"One quarter of Malaysia is Chinese, but in the capital, Kuala Lumpur, the Chinese account for three-quarters of the population," said Mr Ho. The average income of Malaysian Chinese families is higher than that of Malaysian families and Indian families - by 43 per cent and 22 per cent, respectively, he added.
Mr Ho recommended that Hong Kong companies target Chinese consumers in Malaysia. "They can consider either mid-to-upmarket jewellery and timepieces or clothing as a starting point, and they can concentrate their resources on Kuala Lumpur and Penang."
Related Video: http://youtu.be/C8vSxZbNttc
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 13 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 Google+, Twitter @hktdc, LinkedIn.
HKTDC Corporate Communication Department Joe Kainz Tel: +852 2584 4216 Email: [email protected]
Copyright 2014 ACN Newswire. All rights reserved.
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Jan. 19, 2017 01:15 AM EST Reads: 6,087
Due of the rise of Hadoop, many enterprises are now deploying their first small clusters of 10 to 20 servers. At this small scale, the complexity of operating the cluster looks and feels like general data center servers. It is not until the clusters scale, as they inevitably do, when the pain caused by the exponential complexity becomes apparent. We've seen this problem occur time and time again. In his session at Big Data Expo, Greg Bruno, Vice President of Engineering and co-founder of StackIQ...
Jan. 19, 2017 01:15 AM EST Reads: 7,781
Security, data privacy, reliability, and regulatory compliance are critical factors when evaluating whether to move business applications from in-house, client-hosted environments to a cloud platform. Quality assurance plays a vital role in ensuring that the appropriate level of risk assessment, verification, and validation takes place to ensure business continuity during the migration to a new cloud platform.
Jan. 19, 2017 01:00 AM EST Reads: 1,271
"Tintri was started in 2008 with the express purpose of building a storage appliance that is ideal for virtualized environments. We support a lot of different hypervisor platforms from VMware to OpenStack to Hyper-V," explained Dan Florea, Director of Product Management at Tintri, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jan. 19, 2017 12:45 AM EST Reads: 4,645
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and containers together help companies achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of Dev...
Jan. 19, 2017 12:00 AM EST Reads: 4,173
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
Jan. 18, 2017 11:15 PM EST Reads: 4,461
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
Jan. 18, 2017 09:45 PM EST Reads: 6,513
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it m...
Jan. 18, 2017 09:30 PM EST Reads: 5,741
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Jan. 18, 2017 09:30 PM EST Reads: 7,628
In their general session at 16th Cloud Expo, Michael Piccininni, Global Account Manager - Cloud SP at EMC Corporation, and Mike Dietze, Regional Director at Windstream Hosted Solutions, reviewed next generation cloud services, including the Windstream-EMC Tier Storage solutions, and discussed how to increase efficiencies, improve service delivery and enhance corporate cloud solution development. Michael Piccininni is Global Account Manager – Cloud SP at EMC Corporation. He has been engaged in t...
Jan. 18, 2017 08:15 PM EST Reads: 4,857
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Jan. 18, 2017 07:30 PM EST Reads: 3,146
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus o...
Jan. 18, 2017 06:15 PM EST Reads: 4,197
Big Data engines are powering a lot of service businesses right now. Data is collected from users from wearable technologies, web behaviors, purchase behavior as well as several arbitrary data points we’d never think of. The demand for faster and bigger engines to crunch and serve up the data to services is growing exponentially. You see a LOT of correlation between “Cloud” and “Big Data” but on Big Data and “Hybrid,” where hybrid hosting is the sanest approach to the Big Data Infrastructure pro...
Jan. 18, 2017 05:30 PM EST Reads: 4,886
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...
Jan. 18, 2017 05:00 PM EST Reads: 1,166
Hardware virtualization and cloud computing allowed us to increase resource utilization and increase our flexibility to respond to business demand. Docker Containers are the next quantum leap - Are they?! Databases always represented an additional set of challenges unique to running workloads requiring a maximum of I/O, network, CPU resources combined with data locality.
Jan. 18, 2017 05:00 PM EST Reads: 330