The apparel industry is a crucial engineering plane figure of Hong Kong. Its overall efficiency is one of the greatest among all commerce sectors, amounting to HK$35.9 a billion in 2003. It is the biggest business employer in Hong Kong, next to 1,673 establishments hiring 28,752 workers as of June 2005. It is besides the prima earner in lingo of domestic exports, fetching up 40% of the complete in the freshman 11 months of 2005.
Textile quotas were eliminated among WTO members at the original day of 2005 in conformity next to the Agreement on Textiles and Clothing (ATC). However, opposition to number eradication proliferation in the US and EU. Subsequently, China reached agreements near the EU and the US in June and November 2005 respectively. The China-US agreement, impressive from January 2006, governs the exports of a sum of 21 groups involving 34 categories of Chinese textiles and clothing products to the US during 2006-2008. The China-EU agreement, impelling from June 2005, covers 10 categories of Chinese textiles and get-up exports to the EU during 2005-2007.
On the another hand, the land and Hong Kong agreed in October 2005 to added liberalise the solid ground marketplace for Hong Kong companies underneath the tertiary form of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA III). Along with opposite products of Hong Kong origin, the land agreed to supply all products of Hong Kong origin, together with consumer goods items, tariff-free conduct starting from 1 January 2006. According to the stipulated procedures, products which have no alive CEPA rules of origin, will savour tariff-free use upon applications by provincial manufacturers and upon the CEPA head of origins man in agreement and met.Post ads:
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Hong Kong costume companies are honored for ODM and OEM yield. They are able to talk competence rig-out articles in broad pb time, as international importers and retailers message dress suppliers to fasten up secure chain direction to assure the consecutive commodity stretch the sales outlet level at the perfectly time. Increasingly, Hong Kong covering companies, the established ones in particular, have shown pleasure for make publicity.
Hong Kong's unqualified exports of garb chromatic year-on-year by 9% in the archetypal 11 months of 2005. While Hong Kong's re-exports of consumer goods roseate by 20%, cultivated exports savage by 14%. In the premiere 11 months of 2005, Hong Kong's rig-out exports to the US and EU roseate by 11% and 18% severally. Hong Kong's dress exports to Japan leveled off; those to Chinese land declined by 11%.Post ads:
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