Hongkong SAR Takes Measures To Support Fashion Industry

French textile daily recently reported that fashion is an important sector of Hongkong's economic prosperity. The industry is the second largest employer in the SAR, with 1607 enterprises and 24000 paid employees.

The export proportion of the industry accounted for 8% of Hongkong's total exports in the 11 months of 2008, about 20 billion euros.

To support enterprises and stabilize the economy, the SAR government has announced a series of measures to help enterprises.

First of all, the SAR government can create more than 60 thousand jobs in 2009, and provide 10 billion euros guarantee for enterprise loans in December 2008. Secondly, in order to lighten the burden of some enterprises, the district government recently introduced measures to reduce value-added tax on some export products. Finally, in order to further promote Hongkong into the center of tourism and activities, the SAR allocated 15 million euros.

At the same time, the Hongkong Trade Development Council provided 12 million euros of assistance plan to help SMEs overcome the difficulties of the financial crisis.

More shoes and hat investment information, click here to enter the responsibility editor: Wang Xiaonan