XN000022-1990-09-04 — Page 4

TUESDAY, SEPTEMBER 4, 1990

GOVT SUPPORTS INNOVATIVE BUSINESS STRATEGIES

* * * *

FREE

AS A STAUNCH SUPPORTER OF THE FREE TRADE AND

ENTERPRISE POLICY, THE GOVERNMENT IS ALWAYS SUPPORTIVE OF ANY INNOVATIVE BUSINESS STRATEGIES CAPABLE OF ACHIEVING BETTER TRADING RESULTS, SECRETARY FOR TRADE AND INDUSTRY, MR JOHN CHAN, SAID TODAY (TUESDAY).

THE

LOCAL PRODUCTS

AND CLOCK FAIR SPEAKING AT THE HONG KONG INTERNATIONAL WATCH AT THE HONG KONG CONVENTION AND EXHIBITION CENTRE, MR CHAN SAID MANUFACTURERS HAD MADE STRENUOUS EFFORTS IN UPGRADING THEIR IN THE TECHNOLOGY-INTENSIVE DIRECTION.

IN

DESIGN WAS INCREASINGLY FOR EXAMPLE, HE SAID, COMPUTER AIDED BEING EMPLOYED, AND SOME LARGE MANUFACTURERS WERE INVESTING RESEARCH AND DEVELOPMENT ON THE PRODUCTION OF BETTER QUALITY MODELS.

"IT IS OBVIOUS THAT SUCH EFFORTS WILL RESULT IN PRODUCTION WATCHES AND CLOCKS WITH NEWER DESIGNS AND BETTER QUALITY TO CATER CHANGING MARKET DEMANDS.

OF

FOR

**WATCHES AND CLOCKS HAVE GROWN OUT OF THEIR TRADITIONAL PRODUCTS TO BECOME FASHION REQUIREMENT AS NECESSITIES OR HOUSEHOLD ITEMS, HE SAID.

++

WITH TOTAL DOMESTIC EXPORTS VALUED AT SOME $17 BILLION IN 1989,

SECOND COMPARED WITH $17 MILLION IN 1960, WATCHES AND CLOCKS NOW RANK AFTER TEXTILES AND CLOTHING AS HONG KONG'S MOST IMPORTANT INDUSTRY.

EXPORT

EXPORTER OF WATCHES

HONG KONG WAS THE WORLD'S SECOND LARGEST AND THE THIRD LARGEST EXPORTER OF CLOCKS, MR CHAN SAID.

ENJOYED THE WATCHES AND CLOCKS INDUSTRY, WHICH HAD

A YEAR EXPORT GROWTH AVERAGING 27 PER CENT

OVER THE DECADES, HAD CONTRIBUTED GREATLY TO THE HONG KONG ECONOMY SET TO CONTINUE TO DO SO IN THE YEARS AHEAD.

TREMENDOUS PAST THREE AND LOOKED

TRADITIONAL MARKET, BY AND VARIOUS

HAD

REDUCED ALSO AT THE SAME TIME, THE INDUSTRY RELIANCE ON THE UNITED STATES, HONG KONG'S LARGEST EXPORT INCREASING EXPORTS TO OTHER MARKETS SUCH AS JAPAN, CHINA EUROPEAN COUNTRIES.

SAID.

"THIS IS A VERY IMPORTANT FACTOR IN SUSTAINING GROWTH,"

MR CHAN

FAIR 1990, BEING

BY ORGANISED

THE HONG FEDERATION OF HONG KONG WATCH MANUFACTURERS WATCH

THE HONG KONG INTERNATIONAL WATCH AND CLOCK

IS JOINTLY STAGED FROM TODAY TO SEPTEMBER 8, KONG TRADE DEVELOPMENT COUNCIL, THE TRADES AND INDUSTRIES AND THE HONG KONG ASSOCIATION.

WITH

AND

TERRITORIES,

500 EXHIBITORS FROM 13 COUNTRIES IS THE LARGEST WATCH AND CLOCK FAIR EVER HELD IN HONG KONG.

/4

THIS