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  • Deputy Chairmen’s View

    Prof Eric Yim

     

    Prof Eric Yim

        The 57th edition of the Salone del Mobile.Milano, the state-of-the-art international design and furnishing event, will be held from 17 to 22 April. Since 1961, the event has been a showcase for the world’s latest design and trend for home appliances, as well as a platform for gathering elites from furnishing, home appliance, architecture, clothing, accessories, lighting, and design industries. This year, more than 300,000 expected visitors from over 165 countries will attend the event. There will also be more than 2,000 exhibitors, including furniture manufacturers, world top architects and interior designers, who will present outstanding products and solutions for contemporary living which combine design, technology, flexibility and sustainability. I encourage members to actively participate in this event, keep their eyes on the latest trends, materials, display arrangements and architectural forms of these stylish furniture and accessories, and grasp the upcoming new global trends and business opportunities in the furnishing markets.

     

     

     

     
     
    Dr Daniel Yip

     

    Dr Daniel Yip

    In a bid to optimise the tax system and facilitate the development of real economy which includes manufacturing sector and small and micro-enterprises, a decision of value-added tax (VAT) reduction package was made at China’s State Council meeting late last month. Enterprises registered in China, be it local or foreign-invested, can enjoy the tax cut benefits. Starting from 1 May, the VAT rate will be reduced from 17 per cent to 16 percent for manufacturing, from 11 per cent to 10 per cent for transportation and logistics, construction and basic telecommunication services and farm produce; the annual sales standard for small-scale taxpayers of industrial enterprises and commercial enterprises will be unified and increased to RMB5 million while enterprises’ registration as general taxpayer can be changed to small-scale taxpayer within a certain period. Eligible companies engaging in advanced manufacturing like equipment manufacturing, modern services like R&D and telecommunications, can receive a one-off refund for the uncredited input tax. We welcome the tax cut measures, in particular the moves to support the manufacturing sector and advanced manufacturing. We believe these can help lift the burden of enterprises and allow them to keep their edge amid fierce international competition. 

     

     

     

    Dr Jack Yeung

     

    Dr Jack Yeung

       With plastics industry being one of the major foundation industries, the demand for plastics continues to grow as China undergoes rapid industrial development. An effective and comprehensive platform to offer the industry the latest information on various markets and technologies is highly sought after as the technological development and material innovations of plastics are ever-changing. As Asia’s largest plastics and rubber trade fair, the 32nd edition of International Exhibition on Plastics and Rubber Industries (CHINAPLAS) will be held from 24 to 27 April. While the event will find itself in a bigger venue in the National Exhibition and Convention Centre in Hongqiao, Shanghai this year, more than 3,400 suppliers of renowned international brands will get to utilise 340,000 square metres of exhibition space, which surpasses the scale of the K-Plastics & Rubber Exhibition held in Germany. FHKI Group 14 (Hong Kong Mould & Die Council, HKMDC) has set up the “Hong Kong Pavilion” at the Die & Mould Zone in CHINAPLAS since 2013. This year is no exception and the HKMDC will continue to promote the brands and technologies of Hong Kong enterprises and facilitate business matching of the industry with high-end buyers from around the world. Industry players shall not miss the invaluable chance of participating in CHINAPLAS!

     

     

     

    Dr Daniel Yip

     

     

     

    Dr Sunny Chai

    The FHKI will organise the Industrialist Forum on 30 May at Charles K Kao Auditorium in Hong Kong Science Park. The Forum gathers representatives from the Government, renowned institutions and companies to share their insights into the latest development and application of the innovation and technology (I&T) and advanced manufacturing. Secretary for Innovation and Technology Nicholas Yang will introduce Government measures on promoting I&T development. Representatives from the CLP Group, the Hospital Authority and the Airport Authority of Hong Kong will shed lights on the application of Artificial Intelligence (AI) and the possibility and synergy of public-private collaboration in this field. Furthermore, there will be guest speakers discussing hot topics in industry, such as the practical application of Industry 4.0 and the trend of using AI in Advanced Manufacturing and industrial robots for automation. I urge members to attend the Forum in order to stay abreast of the information on I&T development and advanced manufacturing. 

     

     

    Dr Jack Yeung

     

     

     

    Sunny Tan

    The trade war between the US and China is like a loaded gun with the two sides exchanged quick punches recently. Following on 3 April the US announced its proposed tariff list on 1,300 Chinese products, including aerospace, information and communication technology and machinery, the Chinese countered with its own tariff list of 106 products such as soybeans, cars and chemicals with the implementation date subject to US’ further actions. Subsequently, US President Trump went on to direct USTR officials to consider imposing tariffs on an additional US$100 billion worth of Chinese products, responding to China’s unfair retaliatory measures, so to speak. There are no winners in a trade war, especially with the US midterm election influencing this particular one. Members are advised to pay close attention to the political landscape in the US and consider the possibility of a trade war and its potential impact on their businesses.

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