Chinese Manufacturers' Association of Hong Kong president, Dennis Ng Wan-pun, said today he expects Hong Kong manufacturers to record losses this year. About 90 percent of factories in the mainland of local industrialists have reopened, but it will take some time to resume normalcy, Ng said. Although some local governments in the mainland have introduced a number of preferential measures to help enterprises resume work and production, suspensions still caused great losses to manufacturers as they are paying employees. Orders have slowed and manufacturers faced capital pressure, he said. As for producing face masks in Hong Kong, Ng said a lot of space is not needed foro machinery.

Source: The Standard March 12, 2020 04:31 UTC