HK exports to fall by more than expected

The Trade Development Council said on Sunday this year’s exports were likely to fall by more than 2 percent as it previously forecast. Due to the coronavirus pandemic, the Council said nearly 20 trade events scheduled for this year had been postponed.

It said during last year’s social unrest, all 31 exhibitions were able to go ahead. Its Deputy Executive Director, Benjamin Chau stressed the fundamentals of the Hong Kong economy remained strong.

But he called on companies to review their way of doing business when the pandemic is over.

“Many SMEs, after the crisis, they have to think about their supply chain. Besides focusing on production in China, will they consider somewhere else when they start a second production line”, Chau said.

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