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Following is a speech by the Secretary for Trade and Industry, Mr Chau Tak Hay, at the 10th Anniversary Dinner of the Hong Kong Jewelry Manufacturers' Association (HKJMA) today (Wednesday):

Ladies and gentlemen,

It is my great pleasure to be here at the 10th Anniversary Dinner of the Hong Kong Jewelry Manufacturers' Association.

The jewellery industry in Hong Kong has every reason to be proud of itself. With a gross output in 1996 of $8.6 billion and value-added of $2 billion, it is one of Hong Kong's fastest growing industries. It is also our sixth largest export earner among our manufacturing industries. With fine craftsmanship, competitive pricing and flexibility in catering to customer needs, our jewellery products have established a high international reputation. They are renowned for their originality, creativity and fashionableness. Thanks to these attributes, Hong Kong has become one of the world's leading jewellery design and manufacturing centres and one of the world's largest exporters of precious and costume jewellery.

An essential factor behind the success of our jewellery industry is its constant drive for better product design and higher productivity. In response to competition from overseas producers, our manufacturers have increasingly adopted computer aided design and new production processes. In addition, a keen awareness of the latest fashion trends helps keep our jewellery industry at the forefront of designs. The industry is also quick to explore new markets such as those in China and South America.

On the part of the Government, we strive to facilitate the upgrading and increased competitiveness of the industry. Our free port status allows precious stones and metals to be imported at relatively low cost. Our strict enforcement of trade description legislation for gold and alloy products has enhanced the image of Hong Kong-made jewellery in overseas markets. More specifically, through the Industrial Support Fund, we have provided more than $20 million to fund different projects to help the development of the jewellery industry. One example is the Jewelry Industry Technology Centre jointly established by the Hong Kong Productivity Council and your Association in 1994. The Centre provides integrated support to upgrade the capabilities of the industry, helping manufacturers to shorten their product development time and updating them on the latest manufacturing technology trends.

Since its establishment in 1988, the Hong Kong Jewelry Manufacturers' Association has contributed much to supporting and enhancing the development of our jewellery industry. The Association has played an important role in developing and managing the Jewelry Industry Technology Centre. It also keeps the industry abreast of the latest world trends and developments and helps promote the industry's products through an extensive exhibition programme as well as the Internet. I would like to congratulate the Association for its achievements. With the concerted effort of the industry, I am sure that Hong Kong's status as a leading jewellery centre will be further strengthened.

Thank you.

End/Wednesday, September 23, 1998

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