THE manufacturing industry still holds promise because it is becoming less labour-intensive and more technological, says Herbert Liang, president of the Chinese Manufacturers' Association.
After officiating at the opening of Plastics Asia '94 and Pack Print Asia trade covention yesterday, Mr Liang said manufacturing remained the base of Hong Kong's industry, although many believed that it had been overtaken by the services sector.
''The manufacturing industry's margin in gross national product shows a decrease because of the service sector's fast growth,'' he said. ''However, the actual manufacturing industry figure's numbers show an increase.'' Although several manufacturing companies had moved to China, Mr Liang saw new promise in Hong Kong with a shift in production focus.
China was not as much of a threat as technically advanced centres in Europe, he said.
Hong Kong was an important centre for manufacturing, as certain types of sophisticated plastics goods and machinery were produced primarily in the territory, he said.
Plastics exports from Hong Kong - the fifth largest export item - increased 21-fold over the past 30 years.