Survey: Hong Kong exporters expect improved market outlook to come from increased orders from mainland China

　　China News Service, Hong Kong, March 27 (Reporter Wei Huadu) The Hong Kong Trade Development Council announced on the 27th that the Hong Kong Trade Development Council's Export Confidence Index in the first quarter of 2024 was 47.4 points, close to the "watershed" of 50 points, reflecting the "watershed" of Hong Kong exporters. The market outlook is expected to improve.

　　The survey shows that the expected index of each sub-index is slightly higher than the current situation index of 39.6 points, of which the expected index of sales and new orders is 49.9 points, reflecting that exporters are increasing their confidence in the improvement of future export performance. In terms of market, exporters are generally optimistic about the prospects of the mainland and US markets, and orders from the mainland are expected to increase in the second quarter of this year.

　　The survey pointed out that among the six major export industries, electronic products have the most optimistic prospects and this industry will continue to drive the recovery of the overall export market. Some respondents regard the economic slowdown or recession in their major overseas markets as the biggest challenge to export growth.

　　Yang Cuili, senior economist at the Hong Kong Trade Development Council, said that despite some concerns among exporters, 70% of exporters still expect that major overseas markets will resume growth, while more than 35% of respondents expect demand in the mainland market to grow rapidly. Looking forward to the coming year, more than 35% of respondents believe that e-commerce will provide new impetus for export business.

　　It is reported that the Export Confidence Index is an optimized version of the quarterly export index that has been used by the Hong Kong Trade Development Council for many years. It surveys more than 500 Hong Kong exporters to more comprehensively assess the current business conditions of exporters and their judgment on future export prospects. It is higher than 50 Points below 50 are bullish, and below 50 are bearish.

　　Fan Waner, Research Director of the Hong Kong Trade Development Council, said that the new export confidence index can provide the industry with a more accurate barometer and help to gain an in-depth understanding of the trends in export confidence and short-term economic prospects. (over)