(Countering New Crown Pneumonia) Hong Kong Exporters Confidence Falls to New Low in Epidemic
China News Agency, Hong Kong, March 17 (Reporter Liu Chenyao) The Hong Kong Trade Development Council (HKTDC) announced on the 17th that the Hong Kong export index for the latest quarter was only 16. According to the TDC, Hong Kong exporters' confidence fell to a new low under the influence of the three challenges of the spread of new coronavirus pneumonia, weak global demand and the incomplete settlement of Sino-US trade disputes.
TDC news shows that the above export index fell another 2.8 from the previous quarter, reflecting that Hong Kong companies are generally bearish on the short-term export prospects of various industries and markets, especially the jewelry industry. Among the 500 Hong Kong exporters interviewed, nearly 94% said that the new crown pneumonia had a negative impact on the company. The reasons that plagued Hong Kong businessmen include the need to redeploy shipping arrangements (80.4%), and labor shortages after the Chinese New Year (76.2%). ), Contact with overseas buyers or suppliers affected (60.5%) and unstable supply of raw materials (56.1%).
Hong Kong Trade Development Council research director Guan Jiaming pointed out at a press conference on the same day that the epidemic has disrupted the global supply chain, leaving the entire market in an uncertain state, and has the opportunity to accelerate the reshuffle of the global supply chain. "Since the Sino-U.S. Trade dispute, many manufacturers have set up production lines outside the Chinese mainland to avoid additional tariffs. In order to prevent the spread of the epidemic, some factories in the Mainland and even Japan and South Korea have closed down or have not resumed work. The supply chain is tight or even broken, especially the shortage of electronic components, affecting the supply of consumer electronics. Multinational companies may further diversify their investments and no longer rely on single country production. "
Guan Jiaming believes that the gradual expansion of overseas epidemics has made the global economy lack growth momentum and demand for orders may decline further. "In addition, global economic and trade activities have decreased during the epidemic. So far, 15 local trade shows and conferences of the TDC have to be postponed. The industry should use electronic platforms for promotion, and make good use of various government funding programs to enhance competitiveness and develop diversified production and markets. . "
In response, the TDC urged Hong Kong businessmen to consider setting up factories in northern Vietnam and expanding the Greater Bay Area market.
A HKTDC survey on the consumer markets in the nine cities in the Greater Bay Area revealed that the consumer confidence of the surveyed middle-class consumers is at a high level. Nearly 80% of consumers believe that income and expenditure will increase in the next three years. On average, respondents use nearly 30% of their monthly personal income for daily consumption (28%) and about 40% for future planning, including financial investment and insurance (19%) and savings (18%).
Hong Kong Trade Development Council economist Pan Yankuang also said at a press conference that the survey also found that middle-class consumers in the nine cities of the Greater Bay Area generally agree that Hong Kong is a shopping paradise and the most international city in the Greater Bay Area. He believes that the consumer confidence in the Greater Bay Area is high. (Finish)