HK Economy- Highlight
17 May 2018
The slowing of China’s economic growth has affected small and medium-sized companies as well as large companies. For instance, leading auto parts companies have to constantly improve their corporate systems and enhance their R&D capabilities, while optimising their supply chain structure to cope with the market challenges.
Russia is getting ready to host the 2018 FIFA World Cup by investing heavily in its infrastructure. This state-assisted investment has become part of Russia’s effort to diversify its economy from its traditional pillars, and has helped it offset the impact of Western sanctions and caution in the international investment and financing sector. It has also underpinned the rapid growth of Hong Kong-Russia trade.
Hong Kong's testing and certification industry has grown substantially since the 1980s. In 2016, the industry comprised of 770 establishments, most of which were private laboratories, employing a total of 18,000 people. Hong Kong is well positioned to act as an independent third party to provide quality certification and product testing services for mainland enterprises to boost the confidence of overseas and local buyers.