HONG KONG, Sep 19, 2022 - (ACN Newswire via SEAPRWire.com) - The sentiment among Hong Kong exporters continues to improve. The HKTDC Export Index increased a further 1.9 points to 32.8 in the third quarter of 2022, indicating a sustained improvement in confidence in the short-term export performance. However, exporters are facing downward pressure on prices, with the Trade Value Index falling 11.5 points to 40.2.HKTDC Director of Research Irina Fan and Corey To announced the HKTDC Export Index for the third quarter of 2022 at a press conference today (19 September).HKTDC Director of Research Irina Fan told a press conference today that a deteriorating external environment was keeping the recovery slower than hoped. "Weakening demand in major markets dampened by high inflation and aggressive monetary tightening, coupled with rising Sino-US trade tensions and other fallouts from the Russia-Ukraine conflict, also cloud the export outlook," she said.The HKTDC conducts the Export Index survey every quarter, interviewing some 500 Hong Kong exporters from six major industries - machinery, electronics, jewellery, watches and clocks, toys and clothing - to gauge business confidence in near-term export prospects. The Index indicates an optimistic or pessimistic outlook, with 50 as the dividing line.Shift in focusMs Fan said more than half of the respondents (52.0%) in the latest exporters' survey view the shortened quarantine requirement in the Mainland China - a seven-day centralised stay plus three days of home confinement - as positive for business. She added that enabling more flexible business travel arrangements (53.8%), the gradual resumption of cross-border commerce and trade (33.0%), and a smoother production flow (31.8%) were cited as the top benefits.While the impacts of the pandemic continue to decline, COVID-19-related issues remain among the top concerns for Hong Kong exporters over the next three months. Most respondents said COVID-19 persistence (40.2%) and border closure (22.6%) are the major impediments to export performance."To help them deal with this changing environment, Hong Kong businesses are tending to shift from being market-focused to more money-focused," Ms Fan said. Developing other product categories (36.9%) and stabilising finances to ensure sufficient cash flow (35.6%) are the most popular business strategies adopted by the survey respondents. Additionally, more of them said they intend to increase unit prices (35.2%, up 18 percentage points).Jewellery, Japan outperformHKTDC Economist Corey To said jewellery was currently the most promising sector with the highest sub-index at 44.2, followed by toys at 37.0. The jewellery sector also showed the largest improvement, with a 9.9-point increase from the previous quarter, while the electronics sector gained 2.3 points to 32.7.Mr To said Asia continues to provide a relatively promising outlook, adding that Japan remains the best performer at 48.4 (up 0.8 points), followed by the Association of Southeast Asian Nations (ASEAN) bloc (46.9, up 3.6 points) and Mainland China (45.8, up 2.7 points).Recovering supply chainsHe said the pandemic impact on businesses tended to be less severe in the third quarter as compared with April-June. "Fewer respondents experienced negative impacts on their business resulting from the pandemic (77.9%, down 1.2 percentage points). Among them, those whose business had been very negatively affected fell 11.8 percentage points to 23.4%."Mr To said rising transportation costs (64.1%) and logistics disruptions (51.8%) remained the key challenges for Hong Kong exporters, though both fell significantly - by 8.5 and 13.4 percentage points respectively - from the previous quarter, reflecting the gradual easing of supply chain issues. "But it is worth noting that more respondents reported communications issues with overseas buyers/suppliers (48.2%, up 26.6 percentage points) and order cancellations (21.2%, up 4.5 percentage points)."References- HKTDC Research website: http://research.hktdc.com/- HKTDC Export Index 3Q22: Gradual Recovery Underway https://bit.ly/3BetyBI- Photo download: https://bit.ly/3Lm8UUVAbout HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedInMedia enquiriesPlease contact the HKTDC's Communication and Public Affairs Department:Beatrice Lam, Tel: +852 2584 4049, Email: beatrice.hy.lam@hktdc.org Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

HONG KONG, Jun 14, 2022 - (ACN Newswire via SEAPRWire.com) - The HKTDC Export Index grew 6.2 points to 30.9 in the second quarter of 2022, the first rise in the past 12 months, indicating that local exporters have begun to regain confidence in the city's export outlook as the impact of the COVID-19 pandemic gradually subsides and supply chain disruption and logistics bottlenecks show signs of easing.HKTDC Director of Research Irina Fan (R) and Assistant Principal Economist (Greater China) Alice Tsang (L) announced the HKTDC Export Index for the second quarter of 2022 at a press conference today (14 June)"The lockdown measures in Mainland China may have had an impact on local businesses with regard to production shutdowns and delayed shipments. Nevertheless, with the pandemic beginning to recede, cross-border cargo flows and many manufacturing activities getting back to normal, our latest survey findings show a significant improvement in the overall business sentiment, although exporters remain cautious," said Irina Fan, Director of Research, Hong Kong Trade Development Council (HKTDC), speaking at a press conference today.Reduced impactIn the latest survey of local exporters, fewer respondents said that their business had been negatively affected by the pandemic over the past few months (79.1%, down 14 percentage points from the last quarter), while only 35.8% cited it as their top concern for the coming months (down 17.7 percentage points).In addition, fewer exporters experienced pandemic challenges such as difficulties in communicating with buyers/suppliers (21.6%, down 20 percentage points), shortages in raw materials/parts and components (34.6%, down 11.9 percentage points) and order cancellations (16.7%, down 9.7 percentage points). "Nonetheless, increased transportation costs (72.6%) remained as one of the key concerns," Ms Fan said.Forecast unchangedSumming up the situation, Ms Fan said a strong recovery in Hong Kong's trade performance is expected in the second half of 2022. "Our export forecast for this year remains unchanged at an 8% increase compared to 2021," she said. However, Ms Fan stressed that the strong growth in total export value is mainly driven by cost-induced price rises, while export volumes are likely to remain stagnant, or even see a decline.She also reminded local exporters to be aware of the risks from stagflation, geopolitical tensions and a pandemic resurgence, "all of which may hinder the revival of global demand".Hong Kong exports outlook by key marketsHong Kong exports outlook by key sectors* See https://mediaroom.hktdc.com/en/pressrelease/detail/20356/Toy sector and Japan market top the listThe HKTDC conducts the Export Index survey every quarter, interviewing 500 local exporters from six major industries including machinery, electronics, jewellery, watches and clocks, toys and clothing, to gauge business confidence in near-term export prospects. The Index indicates an optimistic or pessimistic outlook, with 50 as the dividing line.HKTDC Assistant Principal Economist (Greater China) Alice Tsang said the upturn of exporter confidence was seen across all major markets and in all industry sectors. "Among them, the Japan market (47.6) and the toy sector (38.7) provided the most promising outlook, while the EU (42.3, up 2.8 points) and timepieces (34.6, up 14.9 points) showed the greatest improvement.""Traders are facing rising cost pressure as export prices are set to surge in the next couple of months. The Trade Value Index remained in expansionary territory at 51.7, despite a 1.1-point fall quarter-on-quarter," she added.All other sub-indexes, including the Employment Index (45.3, up 4.9 points) Procurement Index (25, up 4.7 points) and Offshore Trade Index (23.1, up 8 points) , also saw an upward trend, indicating that recruitment activities have stabilised alongside improvements in offshore trade and procurement.Diversifying products and marketsMs Tsang said issues such as the US interest rate hike, Russia-Ukraine conflict, and a weakening renminbi have yet to affect the business of Hong Kong exporters, with most respondents reporting no negative impacts (70.7%, 69.1% and 56.9% respectively) to date in these three areas.Some respondents said they had experienced increased operating costs (21.9%), reduced buyer orders (13.8%) and increased financing costs (9.4%) due to the US interest rate hike, while the main impacts resulted from the Russia-Ukraine conflict are increased transportation costs (20.1%), shortages in raw materials/parts and components (13.2%) and disruption to logistics/distribution arrangements (12.8%).She said diversification is Hong Kong exporters' favoured business strategy to help them spread risks and at the same time capitalise on new market opportunities. Many of them are planning to develop other product lines (41.2%), diversify sales into additional overseas markets (35.6%) and establish a presence in the mainland's domestic market (22.1%).References- HKTDC Research website: http://research.hktdc.com/- HKTDC Export Index 2Q22: First Rally in Exporter Confidence for 12 months https://bit.ly/3zLmv4v- 2022 Mid-Year Export Review: Expect a Strong Rebound in the Second Half https://bit.ly/3zLmRIn- Photo download: https://bit.ly/3xKAiXtAbout HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedInMedia enquiriesPlease contact the HKTDC's Communication and Public Affairs Department:Beatrice Lam, Tel: +852 2584 4049, Email: beatrice.hy.lam@hktdc.org Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

HONG KONG, Mar 17, 2022 - (ACN Newswire via SEAPRWire.com) - The HKTDC Export Index fell by 12.5 points to 24.7 in the first quarter of this year, the Hong Kong Trade Development Council (HKTDC) announced today. "The index shrinking for the third consecutive quarter can be taken as a clear indication that the prospects for short-term export growth are expected to weaken further," said HKTDC Director of Research Irina Fan.Hong Kong Trade Development Council Director of Research Irina Fan (L) and Economist Samantha Yim announced the HKTDC Export Index for the first quarter of 2022 at a press conference today (17 March)However, the Trade Value Index painted a more optimistic picture, as it remained in expansionary territory at 52.8, despite its reading having dropped from 57.0 in the previous quarter. "This robust outcome indicates that unit prices in most sectors will continue to rise in the near term, with the toy and electronics sectors leading the way at 56.7 and 53.5 respectively," said Ms Fan.The survey found that, unsurprisingly, a majority (93.1%) of respondents indicated that their businesses had been negatively affected by the COVID-19 pandemic over the past three months, a rise of 6.1 percentage points on the previous quarter. Among the key negative impacts cited were rising transportation costs (75.7%), ongoing disruptions to logistics and distribution arrangements (64.5%) and shortages in raw materials, parts and components (46.5%)."In light of rising costs, the pricing response from companies has been notably mixed. While 46.8% of respondents indicated they had been able to pass on at least some of their increased costs to buyers, 48.1% maintained this had not been an option. In addition, about one third (34.2%) of respondents expected their profit margins to rise or stay at the same level, while 65.8% predicted their profits margins would fall year-on-year over the course of the next 12 months," she added.Exporters across sectors remain cautiousThe HKTDC conducts the Export Index survey every quarter, interviewing 500 local exporters from six major industries including machinery, electronics, jewellery, watches and clocks, toys and clothing, to gauge business confidence in near-term export prospects. The Index indicates an optimistic or pessimistic outlook, with 50 as the dividing line.The Export Index dropped by 12.5 points to 24.7 for the third consecutive quarter. HKTDC Economist Samantha Yim said: "In line with this, exporter confidence continues to plunge across almost all industry sectors and major markets. Across many of the major sectors, exporters remained notably cautious. This saw timepieces emerge as the least positive sector at 19.7, while machinery recorded the largest drop, falling 19.1 points to 25.0. By contrast, the toy sector was the only one to merit an increased read, up 8.5 points to 33.5."Exporters were similarly pessimistic when it came to the near-term prospect of Hong Kong's major markets, with all the associated sub-indexes declining. Overall, Asia continued to be seen as likely to be the best performer over the coming months, with the best performer being Japan at 45.6, followed by Mainland China (42.1). On the other hand, the US dropped 3.8 points to 39.1, an outcome seen as less than promising.Challenges and strategies in 2022Looking ahead, an increased number of respondents were concerned about the impact of COVID-19 (53.5%) - a significant climb from the 32.5% of respondents reporting the same sentiment in the previous quarter. A further 11.4% indicated that prospects of a stuttering economic recovery remained among their key challenges, while 9.3% worried about the continued closure of borders.In terms of business strategies for the year, 38.5% of respondents favoured developing other product lines, followed by diversifying into new overseas markets (29.9%) and developing online sales or sourcing channels (29.4%).In December 2021, the HKTDC forecasted that Hong Kong exports will grow by 8% in value in 2022.References- HKTDC Research website: http://research.hktdc.com/- HKTDC Export Index 1Q22: Erratic Market Environment Dampening Exporter Confidence Further: https://research.hktdc.com/en/article/MTAwNjA1OTIxNg- Photo download: https://bit.ly/3tXw4ZqMedia enquiriesPlease contact the HKTDC's Communication and Public Affairs Department:Sam Ho, Tel: +852 2584 4569, Email: sam.sy.ho@hktdc.orgMedia Room: http://mediaroom.hktdc.comAbout HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

HONG KONG, Dec 16, 2021 - (ACN Newswire via SEAPRWire.com) - The Hong Kong Trade Development Council (HKTDC) forecasts that Hong Kong exports will grow by 8% in value in 2022, down from the 25% expansion experienced in 2021. An uneven recovery, lingering threats from the COVID-19 pandemic, global supply chain disruptions and logistics bottlenecks, as well as rising concerns over inflation, are expected to restrain growth, HKTDC Director of Research Nicholas Kwan said.HKTDC Director of Research Nicholas Kwan and Assistant Principal Economist (Greater China) Alice Tsang announced the HKTDC Export Index for the fourth quarter of 2021 and gave the HKTDC’s prediction for export growth in 2022 at a press conference today.In the most recent HKTDC Export Index survey, more local exporters (87%, up 20.4 percentage points from the previous quarter) said the pandemic had negatively affected their business. Soaring transport costs (60.2%), disruptions to logistics and distribution (53.2%) as well as difficulties in sourcing raw materials/parts and components (41.4%, up 16.8 percentage points) were cited as major impacts. More than 70% of Hong Kong exporters said they expect 2022 sales will decrease (42.6%) or just be on par (29.1%) with sales this year.COVID-19 remains biggest threatIn the first 10 months of 2021, Hong Kong exports surged 26.7% year-on-year, albeit from a low base. "The remarkable growth outshone the global average, demonstrating the resilience of the city's export sector. Nonetheless, lingering pandemic and market uncertainties are likely to cast a shadow on the local export performance in the coming year," Mr Kwan said.He added that the impact of COVID-19 (32.5%) remains local exporters' top concern, followed by a stuttering economic recovery (15.7%) and borders remaining closed (11.6%).From 'just-in-time' to 'just-in-case'Mr Kwan said COVID-19-related delays in shipments and issues related to port closures and congestion have adversely impacted the global supply chains in many areas. While 71.3% of respondents reported delivery delays, 39.8% experienced production schedule disruption and 38.4% passed extra shipping costs on to customers. Many exporters (62.4%) expect logistics costs to continue rising in the first quarter of 2022, with 39.8% anticipating an increase in the range of 10-30%.He said manufacturers may reserve more buffer time for production in the pandemic recovery period. "Take the automobile industry as an example, where companies are switching from a 'just-in-time' strategy, with semiconductor chips, parts and components only delivered as needed, to embracing a 'just-in-case' strategy where they stock up on inventory to combat logistics bottlenecks."New products, new marketsOn the bright side, the Regional Comprehensive Economic Partnership (RCEP) agreement takes effect on 1 January 2022. "With its phased tariff elimination, the RCEP is set to further develop and integrate regional supply chains, as well as encourage production specialisation in Asia. This will provide a fresh impetus for Hong Kong to fortify its role as an international trading hub," Mr Kwan said.Considering business strategies in 2022, almost half of the exporters surveyed (46.4%) indicated they planned to develop other product categories, with some opting to develop domestic markets in Mainland China (33.8%) or diversify sales to other overseas markets (30.5%).Toy sector bearishMeanwhile, the HKTDC Export Index dropped 1.8 points to 37.2 in the final quarter of 2021, "indicating that growing market uncertainties triggered by COVID-19 variants may continue to undermine local exporters' confidence in the near term," said HKTDC Assistant Principal Economist (Greater China) Alice Tsang.Machinery (44.1, up 0.3 points) was the most promising sector, jewellery (40.7. up 0.8) and clothing (39.6, up 3.5) improved, while toys, down 19.0 points to 25.0, was the least optimistic sector. Exporters were equally cautious on major markets. Mild growth was expected in the Association of Southeast Asian Nations (ASEAN) bloc (45.8, up 1.3) and Japan (48.7, up 0.8), while the mainland market remained stable (47.6, down 0.2) and the United States fell 1.4 points to 42.9.The Procurement Index and the Employment Index were more or less the same as the previous quarter, at 36.9 and 44.0 respectively. The Trade Value Index (57.0) remained in expansionary territory.A total of 500 local traders from six major industry sectors including clothing, electronics, jewellery, machinery, timepieces and toys were interviewed for the HKTDC Export Index survey in mid-November. Readings above 50 indicate a positive sentiment, while below 50 is negative.References- HKTDC Research website: http://research.hktdc.com/- HKTDC Export Index 4Q21: Exporter Sentiment Declines as Covid-19 Resurges and Logistics Costs Spiral https://bit.ly/3yC337H- Hong Kong Export Outlook for 2022: Moderate Growth Amid Lingering Risks from Covid-19 and Growing Threats of Inflation https://bit.ly/3EWwN1b- Podcast https://bit.ly/3pXDPfJ- Photo download: https://bit.ly/3pWHKJQAbout HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedInMedia enquiries:HKTDC's Communication and Public Affairs DepartmentBeatrice Lam, Tel: +852 2584 4049, Email: beatrice.hy.lam@hktdc.org Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

HONG KONG, Mar 22, 2021 - (ACN Newswire via SEAPRWire.com) - The HKTDC Export Index rose a further 2.8 points to 39.0 in the first quarter of this year compared with the preceding quarter, the Hong Kong Trade Development Council (HKTDC) announced today. "Although the index has risen for four consecutive quarters, it remains in contractionary territory, suggesting a cautiously optimistic export outlook," said HKTDC Director of Research Nicholas Kwan. "The city's export performance will be affected by several uncertainties such as whether there is a revival in consumer and business confidence, and whether the economic stimulus packages implemented in major economies are effective."Presenting the HKTDC Export Index for the first quarter of 2021 and an analysis on smart-city opportunities in the "new normal" are researchers at the Hong Kong Trade Development Council: (L-R) Economist Melissa Ho, Director of Research Nicholas Kwan, Assistant Principal Economist (Global Research) Louis Chan and Economist Samantha YimMeanwhile, resurgence of the COVID-19 pandemic (46%) and softening global demand (28.4%) remained local exporters' key concerns, according to the survey."As the impact of COVID-19 begins to diminish and business operations gradually return to normal, the Hong Kong economy is expected to regain the momentum for growth," said Mr Kwan.The survey also found the proportion of exporters who were hard hit by the pandemic dropped significantly, from 56.7% in the previous quarter to 33.1% this quarter. "Reduction in order sizes [53.9%] has been the most common adverse impact but more and more local exporters have experienced challenges brought by the disruptions to logistics and distribution [20.7%, up almost 8 percentage points] such as tight container supply and soaring shipping costs," he added.Half of exporters go onlineTo weather COVID-19-related challenges, nearly half of the exporters surveyed planned to develop other product categories (45.7%) or build up online sales channels (45.4%) in 2021. The most popular channels for those going online included proprietary websites/applications/social commerce (77.3%) and third-party e-commerce platforms (64.9%). Some respondents also indicated they used online sourcing platforms (36.1%) or online exhibitions (19.1%).However, many exporters encountered difficulties when developing online sales, including intense competition in the e-commerce market (56.7%) and ineffective digital market strategies (52.6%), while some were not ready to take small orders (37.6%) or establish long-term relationships with buyers on a virtual basis (32.0%). Other commonly identified issues included potential cybersecurity risks (26.3%) and the need to train e-commerce staff (25.3%).Mr Kwan said many companies now offer a basket of value-added services as a way to stay competitive in the market. The most common free service offered is product design and development (67.9%), followed by preparing trade documentation (56.6%), logistics arrangement (56.6%), facilitating the attainment of quality-certification or product-testing reports (56.6%), and managing production including outward processing and quality control (52.8%).All major industries reboundThe HKTDC conducts the Export Index survey every quarter, interviewing 500 local exporters from six major industries including machinery, electronics, jewellery, watches and clocks, toys and clothing, to gauge business confidence in near-term export prospects. The Index indicates an optimistic or pessimistic outlook, with 50 as the dividing line.HKTDC Economist Samantha Yim said export confidence improved across all major industries. The strongest rebound was in jewellery (42.2) and toys (44.7), which jumped 9.2 and 8.8 points respectively. Among major markets, Hong Kong exporters were relatively more confident in the United States (46.1, up 1.7 points), while Mainland China (48.0) and Japan (47.3) were on par with the last quarter. The outlook for the Association of Southeast Asian Nations (45.2) and the European Union (42.9) was less promising, falling 2 and 1.1 points respectively."The improving export sentiment is further evident in an upward trend in the subsidiary indexes including the Trade Value Index [46.3, up 9.8 points] and Employment Index [43.2, up 1.7 points], yet the Procurement Index [33.6, down 1 point] remained subdued, suggesting exporters are worrying orders might drop in the near future," Ms Yim said.The HKTDC's Research Department also conducted a series of company interviews to explore how technologies have promoted smart-city development and helped local enterprises ride out the COVID-19 challenges.Retail industry evolvesHKTDC Economist Melissa Ho said the pandemic has accelerated the transformation of the retail industry. Technological solutions such as data analytics, the Internet of Things and sensors have played a pivotal role in enabling more effective retail management and providing better shopping experiences for consumers. Self-services/self-checkout kiosks, "try-before-you-buy" experiences powered by augmented reality (AR) technology, and the use of sensors for consumption-pattern analysis have become the "new normal" in the retail industry."Technology improves operational efficiency and enhances shopping experiences. It is important for retailers to keep up with the fast-paced change in customer needs and expectations by enhancing their capabilities and competitiveness through digital enablers," she said.Navigate COVID-19 opportunitiesHKTDC Assistant Principal Economist (Global Research) Louis Chan said local companies upgrade and transform in four key areas amid the pandemic: developing new products, expanding sales channels, innovating marketing solutions and optimising work processes. He said medical and healthcare products as well as tech-related (including 5G, artificial intelligence, and AR) products emerged with the rise of "stay-at-home" economy, while the online-to-offline business model continued to grow with cross-border e-commerce becoming a new focus."Content marketing on social media as well as more precise and personalised marketing backed by data analysis will become the new normal. Mobile technology-aided game marketing can help companies win support from the new generation of consumers," said Mr Chan. He noted work optimisation can be achieved by applying various technologies, citing the example that automated systems supported by robots can enhance warehouse efficiency and delivery accuracy. Cloud database, remote and machine learning technology can also help optimise logistics efficiency, improve production management and reduce risks, added Mr Chan.References- HKTDC Research website: http://research.hktdc.com/ - HKTDC Export Index 1Q21: Improved Exporter Sentiment in Expectation of Economic Recovery in the Year Ahead https://bit.ly/3qYc853- Smart City Development: New Retail Experiences https://bit.ly/3eDt1j4- Smart City Facilitators: Robotising the Food and Beverages Sector https://bit.ly/3eDta66- Navigating COVID-19 series https://bit.ly/3rTd1NJ- Photo download: https://bit.ly/314qxSPAbout HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedInMedia enquiriesPlease contact the HKTDC's Communication and Public Affairs Department:Beatrice Lam, Tel: +852 2584 4049, Email: beatrice.hy.lam@hktdc.org Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)