Today (Sept. 16), the Hong Kong Productivity Council (HKPC) and Deloitte China released key findings from the "Hong Kong Manufacturing Industry Development Study Report," which includes analyses on the current state of the manufacturing sector, relevant policy references, transformation projects of Hong Kong-funded enterprises in the Greater Bay Area, and enterprise surveys.
Jiang Wei-xuan, a partner in strategy and economic consulting at Deloitte China, commented during the presentation of the report that despite the economic transformation leading to the outward migration of manufacturing, some manufacturing enterprises still retain their headquarters functions in Hong Kong, transitioning into 'manufacturing services.'
The data reveals that customization and greening are two emerging trends reflecting the high-value-added headquarters functions in Hong Kong. Notably, 81% of surveyed manufacturing enterprises have not yet introduced smart solutions to address the trend towards customization, and 67% have received or expect to receive customer requests to incorporate green sustainable development standards in the manufacturing process.
Lai Shiao-bun, Chief Digital Officer of HKPC, highlighted that smart solutions represent a new direction for developing Hong Kong's manufacturing industry. HKPC encourages enterprises to add value and complement the strengths of the Greater Bay Area and other mainland markets to promote industrial innovation jointly. Hong Kong must actively develop a headquarters economy to attract enterprises to establish their headquarters in the city, thereby promoting industrial diversification.
Jiang Wei-xuan shared practical cases, mentioning a manufacturer of molds and injection molding products, with its headquarters in Hong Kong responsible for strategic and investment management and production bases in Mainland China and Southeast Asia. This manufacturer has successfully digitized the entire process from product research and development to mass production while also expanding its upstream and downstream industry chain by transitioning from traditional molds to precision plastic product development and production.
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