Hong Kong business people feel threatened by China's entry to the World Trade Organisation and believe the Government should provide more information about its impact, a survey of executives found.
'Hong Kong companies are viewing WTO as a threat rather than a major opportunity,' said Stephen Lee, Hong Kong branch president of CPA Australia, which commissioned the survey.
Of 442 respondents, 71 per cent cited competitors from China as the biggest threat to profits. Further evidence that the WTO is perceived as a threat came from the finding that only 28 per cent of respondents said they would move to the mainland on their current salaries.
'If only one in four people are prepared to work in China on their current salaries, it shows a lack of awareness or understanding of the opportunities China has to offer,' Mr Lee said.
The Government should do more to educate the public about the impact of China's entry to the WTO, 90 per cent of the respondents said.
Companies were more likely to base their operations in the mainland than Hong Kong after China's accession, 70 per cent of respondents said.
'This implies that respondents view this as a threat and there will be fewer jobs for them in Hong Kong,' Mr Lee said.
