MONDAY, SEPTEMBER 2, 1985
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WATCH MAKERS URGED TO FOLLOW FASHION TRENDS
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MANUFACTURERS HAD TO BE CONSTANTLY ON THE ALERT FOR SHIFTS AND CHANGES SO THAT THEY COULD MEET MARKET DEMAND WITH A CONTINUEL SUPPLY OF NEW PRODUCTS WITH IMPROVED DESIGN AND BETTER QUALITY, THE ACTING SECRETARY FOR TRADE AND INDUSTRY, MR JOHN YAXLEY, SAID TODAY (MONDAY).
SPEAKING AT THE OPENING OF THE 4TH HONG KONG WATCH AND CLOCK FAIR HELD IN THE MIRAMAR HOTEL, MR YAXLEY SAID TECHNICAL AND MANUFACTURING SKILL WAS NOT ENOUGH INNOVATION AND CREATIVE DESIGN WERE ALSO REQUIRED.
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+WE IN HONG KONG STILL MAKE SUCH HIGH-VALUE INVESTMENT QUALITY WATCHES. BUT EQUALLY IMPORTANT THESE DAYS IS THE INFLUENCE OF FASHION.
HE SAID: THE COMMITMENT OF THE GOVERNMENT TO DESIGN AND INNOVATION HAS RECENTLY BEEN BACKED BY CASH - $8 MILLION OF THE TAXPAYERS MONEY HAS BEEN PROVIDED FOR THE ESTABLISHMENT OF A COMPANY TO PROVIDE SUCH A SERVICE.
+WE ARE NOW IN THE PROCESS OF FORMING THE COMPANY AND EXPECT THAT IT WILL BE OFFICIALLY REGISTERED WITHIN THE NEXT MONTH OR SO. IT WILL HELF IMPROVE THE DESIGN AND MANUFACTURE OF EXISTING PRODUCTS AND WILL DEVELOP NEW ITEMS.+
MR YAXLEY SAID HE WAS PLEASED TO LEARN THAT HONG KONG WAS TO BE ADMITTED TO THE IMPORTANT WATCHES, CLOCKS AND JEWELLERY FAIR TO BE HELD IN BASLE NEXT YEAR.
+THIS IS RECOGNITION OF THE IMPORTANCE OF THE TERRITORY IN TERMS OF THE TRADE IN GENERAL BUT, IN PARTICULAR, IN TERMS OF ITS IMPORTANCE AS A CENTRE OF IDEAS AND INNOVATION.+
REGARDING DOMESTIC EXPORT PERFORMANCE, MR YAXLEY SAID LAST YEAR WAS GOOD FOR HONG KONG BUT THIS YEAR HONG KONG'S EXPORT FIGURES HAD BEEN AFFECTED BY THE SLOW-DOWN IN THE UNITED STATES ECONOMY.
+HOWEVER, OUR MANUFACTURERS, RENOWNED FOR THEIR RESILIENCE, RESOURCEFULNESS AND FLEXIBILITY, WILL CONTINUE TO OVERCOME TEMPORARY DIFFICULTIES.
+I CAN ASSURE THAT THE HONG KONG GOVERNMENT WILL ALSO CONTINUE TO SUPPORT THE INDUSTRY WHENEVER GOVERNMENT INVOLVEMENT IS APPROPRIATE.+
HONG KONG IS THE WORLD'S BIGGEST EXPORTER BY VOLUME OF COMPLETED WATCHES SINCE 1978.
THE INDUSTRY ACCOUNTS FOR NEARLY SEVEN PER CENT OF THE TERRITORY'S DOMESTIC EXPORTS AND IS THE FIFTH BIGGEST INDUSTRIAL EMPLOYER. IN VALUE TERMS IT RANKS THIRD AFTER SWITZERLAND AND JAPAN.
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