11-06-2020
The lingering coronavirus pandemic started early this year has brought the jewellery manufacturing industry to a standstill. Some of the most prominent industry players in Hong Kong expressed their very concerns over the lacklustre business environment to member of legislative and executive council Jeffrey Lam at a meeting yesterday, in the hope to find ways to ride out the storm.
Organised by the Hong Kong Jewellery & Jade Manufacturers Association (HKJJA), the meeting was held at the association’s premise in Hunghom at noon today with representatives of nearly 30 fine jewellery manufacturers attended.
The Hong Kong jewellery industry is primarily export-oriented in which trade exhibitions play a pivotal role in business growth. A number of attendees said started last year local exhibitions have been severely affected due to social and political issues. The novel coronavirus has dealt an even heavier blow to the industry when almost all trade fairs and events from this year’s start were either cancelled or postponed despite participation fees paid.
During the over-an-hour session attendees have made manifold requests. Some made suggestions in regard to how Hong Kong Trade Development Council (HKTDC) and the government could help alleviate their financial burden in future show participations. Jeffrey Lam said although it is somehow difficult to ask show organisers to reimburse the 2019 participation fees due to accounting issue, he would arrange a meeting for the industry and HKTDC to sort things out.
Some attendees said there is a lack of measures that address to the specific needs of the jewellery industry under the government’s anti-epidemic fund despite the significance of the industry in the city. Besides asking the government for various relief grants or subsidies, some attendees urged the Hong Kong Monetary Authority (HKMA) to extend the period of the Pre-approved Principal Payment Holiday Scheme for Corporate Customers. In view of export credit insurance, some jewellers hoped the Hong Kong Export Credit Insurance Corporation (HKECIC) would provide extensive coverages that meet the real needs of the industry.
Also an entrepreneur, Jeffrey Lam said he acknowledged and understood the issues facing Hong Kong manufacturers and exporters, and would reflect the industry’s views to the government. (Photo courtesy: HKJJA)
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