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Following is the full text of a speech by Chief Secretary for Administration, Mrs Anson Chan, at the Opening Ceremony of the Hong Kong Fashion Week for Fall/Winter '99 this morning (Tuesday):
Mr Fang, Mr Sze, distinguished guests, ladies and gentlemen,
I am delighted on this beautiful morning to be here with you all to officiate at the Opening Ceremony of the Hong Kong Fashion Week for Fall/Winter '99.
The clothing industry has been a key sector of the Hong Kong economy since the early 60s and it remains so today even as our economy becomes more service-based. Clothing is still our largest export item, taking up more than 30 per cent of Hong Kong's total domestic exports. The value of our exports amounted to an impressive HK$156 billion in the first 11 months of 1998. We continue to be a leading supplier of clothing in the world.
Hong Kong's position as an international clothing centre is a reflection of, as well as a tribute to, our manufacturers' business acumen, their entrepreneurial flair, their ability to meet short production cycles and deliver high quality, fashionable products. But above all, our garment manufacturers have fully capitalised on the trend of globalisation and become truly global players who excel in multi-country production, management of international sales and marketing.
This explains the transformation of Hong Kong from a low-cost apparel supplier into a strategic control centre nowadays. Over half of our textiles and clothing companies have set up operations outside Hong Kong. These offshore production facilities not only help reduce costs, but also enable our industry to gain better access to markets where trade opportunities would otherwise have been curtailed by quotas or other forms of trade barriers.
We are also a global hub for sourcing garments. Many of the world's big brand names and designer boutiques have set up offices here to buy up-market fashion made in Hong Kong and so if you are looking for business opportunities in the Asia Pacific, you are in exactly the right place. The Fashion Week enables buyers and manufacturers to source garments, fabrics and accessories under one roof.
I am particularly pleased to note that the highlight of the Fashion Week will be the third Asia-Pacific Young Fashion Designers' Show at which budding designers in the region will present their latest collections. In fact, many of our local designers have gained a reputation in overseas markets for their fresh ideas, excellent workmanship, sensitivity to fashion trends, commitment to quality, and ability to blend commercialism with innovation.
The Government is fully committed to supporting the further development of Hong Kong's clothing and fashion industry. Since its inception in 1994, our Industrial Support Fund has approved a total of HK$97 million to finance 45 projects related to the textiles and clothing industry. These projects will support the development of state-of-art technologies to upgrade the industry's capacity.
Looking ahead, intense competition will drive our clothing manufacturers to sharpen their competitiveness and upgrade their position in the value chain. In this regard, I am very pleased to note that they have been meeting this challenge through the adoption of modern management techniques, such as supply chain management, and the acquisition of advanced technology such as the use of computer-aided design or computer-aided manufacturing in the production process. I am sure that all these initiatives will enable us to better meet the challenges of the 21st century in the clothing industry.
Finally, I wish the Fashion Week every success and everyone present a very happy, productive and prosperous year. Thank you.
END/Tuesday, January 19, 1999
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