HK forms auto alliance to tap mainland market

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Last updated at: (Beijing Time) Wednesday, March 31, 2004

HK forms auto alliance to tap mainland market

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The Automobile Industries Alliance for Optical, Mechanical and Electronics Industries has recently been set up to assist Hong Kong's high value-added manufacturing industries to tap the booming automobile market in the mainland.

The new alliance was formed by the Hong Kong Productivity Council (HKPC) with support from the Hong Kong Auto Parts Industry Association (HKAPIA), The Hong Kong Electronic Industries Association (HKEIA), the Hong Kong Optoelectronics Association (HKOEA) and the Hong Kong Critical Components Manufacturers Association (HKCCMA).

Announcing the formation of the alliance on Monday, K K Yeung, executive director of HKPC, said the automotive industry is one of the fastest growing sectors in the mainland, with car production and sales volume recording unprecedented increases over recent years.

In 2003, the total car production exceeded 4.4 million units, an increase of 35 percent over 2002, of which passenger cars accounted for over 2 million units, a surge of 83 percent over the same period.

The total sales of cars also posted an increase of 34 percent, reaching 4.4 million units, of which 1.97 million units were passenger cars, representing an increase of 75 percent. This prosperous market will create huge demands for automotive parts and components, said Yeung.

"Hong Kong's high value-added manufacturing industries have a lot to offer to the mainland automobile industry, from technology commercialization, manufacturing process upgrading, logistics to marketing support. With the formation of the alliance we can consolidate the competitive advantages of local industries and tap these new opportunities more effectively," he said.

"The alliance will map out a strategy to promote Hong Kong's automotive and related industries to the mainland. It will also organize study missions to other major automobile production bases and photonics centers in the mainland to foster collaboration between Hong Kong and mainland enterprises," Yeung added.

Source:Xinhua

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