Home / Knowledge / News / Business upgrading is only way to survive economic adversity, HKPC
Business upgrading is only way to survive economic adversity, HKPC
Jun '09
At a summit jointly organized by the Hong Kong Productivity Council (HKPC) and now Business News Channel (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 thereafter.

Hong Kong Productivity Council

Must ReadView All

Textiles | On 8th Dec 2016

Cabinet okays reforms to boost jobs in made-ups sector

The Union Cabinet chaired by prime minister Narendra Modi has given...

Textiles | On 8th Dec 2016

R&D is key to textile industry’s growth: Kavita Gupta

Research and development is the key to the growth of the textiles...

Textiles | On 8th Dec 2016

Taiwan’s Everest Textile to invest $18.5 mn in US

Everest Textiles USA, a unit of Taiwan based Everest Textile Company, ...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search