Business Upgrading: The Only Way Out For Hong Kong Industry

At a summit jointly organized by the Hong Kong Productivity Council (HKPC) and now Business News Channel today (6 June 2009), local companies have been urged to be more pro-active in upgrading and transforming their business in order to survive the economic downturn.

The Hon. Andrew Leung, Legislative Councillor and Chairman of HKPC who was also the guest host of today's summit, said: "Hong Kong companies have already had to confront a host of challenges such as adjustments in the Mainland's processing trade policy, environmental requirements and growing competition from Mainland companies etc. The financial tsunami and the swine flu have compounded the problems facing Hong Kong companies. Success stories of today's speakers clearly demonstrate that business upgrading is the only way to survive the economic adversity."

Mr Wilson Fung, Executive Director of HKPC, said: "In the past few years, although the government has not introduced many new initiatives specifically on supporting and promoting industrial development, industry should not be disappointed. Among the six economic areas with high potentials which the government intends to develop, four of them are closely related to industry. We trust that industry will benefit from the new initiatives when they are rolled out. Also, the newly-established CreateHK Office has just launched a $300 million CreatSmart Initiative for the creative industry. These resources enable enterprises to apply creativity to upgrade and transform their business. Industry should capture these opportunities to increase its competitiveness."

Summit speakers included Mr Clement Chen, Chairman of the Federation of Hong Kong Industries; Mr George Leung, Advisor, Strategy and Economics, Asia Pacific, HSBC; Professor K B Chan, Chairman of Hong Kong Electronic Industries Association; Mr Sze Yan-ngai, Founder and Convenor of Hong Kong Game Industry Association; Mr Arnald Ho, Chairman of Print-Rite Holdings Ltd; Dr John Chai, Managing Director of Fook Tin Technologies Ltd; and Mr Winston Chow, Group Deputy General Manager of Chow Sang Sang Holdings.

Highlights of the summit will be broadcast at 9:30pm, 13 and 14 June, on now Business News Channel and uploaded to the HKPC website (www.hkpc.org) thereafter.

For media enquiries, please contact Mr Felix Chan at tel. (852) 2788 5036 or email: felixchan@hkpc.org

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Mr Jonathan Ho
General Manager
Corporate Communications
Tel: (852) 2788 6390
Fax: (852) 2788 5056
Email: jonathanho@hkpc.org
Website: www.hkpc.org

6 June 2009