HONG KONG: differences with the EU will not affect the textile industry
Representatives of the Hong Kong government and industry veterans say that the differences between China and the EU due to the export of textile products have little impact on the textile industry and the economy of Hong Kong. Trying to assess the impact of the collision between the States on the growing export of textiles to the economy of Hong Kong, a government economist Kwok Kwok-chuen (Kwok Kwok-chuen) stated that this effect is very versatile, and can be, and to some extent beneficial. The uncertainty of the outcome of trade disputes has prompted some manufacturers to move production back to Hong Kong, which may cause a rise in the textile industry in Hong Kong.
Demand in the local market is only 70% of the growth of the industry, and as the economy of Hong Kong is aimed more at the consumer than on investment, the domestic market can consume most of the manufactured products. Informs fibre2fashion
