Exports 'unaffected' by austerity policy

Kenneth Ko

CHINA'S macro-economic controls will not disturb the growth of Hong Kong's exports, says Herbert Liang, who was re-elected yesterday as president of the Chinese Manufacturers' Association of Hong Kong (CMA).

Mr Liang said the association did not expect a slowdown in export growth as China was determined to greatly develop its export-oriented industry.

China's macro-economic policies were significant measures aimed at enforcing a more effective utilisation of capital and a balanced economic development, he said.

China needed to increase its exports and upgrade its products to make them more competitive in the international market and earn more foreign exchange, he said.

At the same time, Mr Liang said China had to import more machinery, hi-tech instruments and industrial materials.

The CMA therefore expected Hong Kong's imports and exports to perform well next year.

He said CMA was exploring the possibility of setting up offices in China to assist its member industrialists to develop their businesses on the mainland.

To help improve traffic flow across the border at Shenzhen, the CMA will meet Shenzhen officials in the middle of next month.

CMA said border points should be open 24 hours a day to alleviate heavy traffic flows.