Hong Kong's export index in the third quarter fell by 9.7 points from the previous quarter
Time of issue:
2021-11-03
Xinhua News Agency, Hong Kong, September 14. The Hong Kong Trade Development Council announced on the 14th that affected by the global epidemic, Hong Kong's export index for the third quarter of 2021
Xinhua News Agency, Hong Kong, September 14. The Hong Kong Trade Development Council announced on the 14th that affected by the global epidemic, Hong Kong's export index for the third quarter of 2021 has rebounded after rising for five consecutive quarters, falling 9.7 points from the previous month to 39. However, some Hong Kong companies said that their export business has increased during the epidemic, especially in electronics and toys.
Hong Kong Trade Development Council Research Director Guan Jiaming said at a press conference on the 14th that the repeated epidemics and soaring freight rates have weakened the export confidence of Hong Kong businessmen in the short term. Only about 20% of the Hong Kong businessmen interviewed expect sales to increase during the peak Christmas season. . He said that the continued epidemic and weak global demand are still key factors affecting Hong Kong's export performance in the next six months.
A survey by the Hong Kong Trade Development Council shows that apart from the epidemic, buyers' reduction in order quantity or cancellation of orders, hindered logistics and distribution, and rising transportation costs are all common problems encountered by Hong Kong businessmen. However, as the demand for products such as electronics and toys has increased during the epidemic, the export business of some Hong Kong companies interviewed has increased as a result.
Guan Jiaming said that many Hong Kong companies are accelerating their digital transformation under the epidemic, including investing resources to develop online sales channels, conducting digital marketing, making good use of cloud management systems and electronic payments. Faced with various challenges, Hong Kong companies generally adopt new business strategies, including exploring the mainland market, expanding online sales, and developing new product categories. In terms of export markets, businesses have more confidence in mainland China and Japan.
The Hong Kong Trade Development Council stated that although the epidemic has hit the global economy hard, it has accelerated the development of smart healthcare. In recent years, many medical products and services have introduced new technologies. Hong Kong is a medical innovation research and development hub and a fund-raising center for biotechnology companies. It has always maintained close ties with the mainland medical market, bringing new opportunities to the medical and health industry in different fields.
The Hong Kong Trade Development Council conducts quarterly surveys of 500 exporters from Hong Kong’s six major industries, including machinery, electronics, jewelry, watches, toys, and clothing, to understand their views on the recent export prospects. The index indicates a positive or negative market situation. , With 50 as the dividing line between prosperity and decline.
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