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September 3, 2009

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Home » Business » Manufacturing

Clocking in at HK fair at the right time

THE 28th Hong Kong Watch and Clock Fair, the largest trade show of its kind in the world, opened in Hong Kong yesterday.
The fair, expected to run till Sunday, showcased more than 700 exhibitors from 17 countries and regions. Most were from Hong Kong and the Chinese mainland provinces of Guangdong and Fujian, event co-organizer Hong Kong Trade Development Council said.
Highlights include the Pageant of Eternity, which was added to the fair this year. The Brand Name Gallery, featuring about 100 designer collections of international brands, will be open to the public for the first time on the last day of the show.
Other events planned for the fair include a watch show, parade and conference.
K.C. Chan, Hong Kong's secretary for financial services and the treasury, said the territory's watch and clock exports dropped about 23 percent in the first half of this year.
"Due to keen competition as well as the global economic crisis, the watch and clock industry of Hong Kong is facing unprecedented challenges," he said.
Hong Kong's watch and clock exports totaled US$2.5 billion in the first half. The city was the world's second-largest exporter of complete watches and complete clocks in 2007. Over half was re-exports of mainland origin and the European Union, the United States and the mainland was the major market.
Over three quarters of Hong Kong's timepiece exports are produced on an OEM (original equipment manufacturer) basis. An increasing number of Hong Kong companies have developed ODM (original design manufacturer) businesses, Chan said.


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