The US-China trade war is worrying some Hong Kong-owned manufacturers, CEO says
2018-08-12 04:40:02 source：CNBC
August 11, 2018
Hong Kong-owned companies that manufacture in mainland China are increasingly worried about the escalating Washington-Beijing trade war, according to one industry executive.
Hong Kong's dynamic skyline and bustling harbor illustrate its role as a global financial hub, but decades ago it teemed with factories, making it one of the four "Asian Tigers" of the day along with Singapore, South Korea and Taiwan. But enticed by the nearby mainland's economic opening that began 40 years ago this year, many took advantage of China's then low costs for labor, land and production to shift operations there.
Raymond Young, CEO of the Chinese Manufacturers' Association of Hong Kong, said more than 95 percent of its some 3,000 members, have factory operations in the mainland. At first, members were not initially very concerned about the trade war, he told CNBC, "but by and by more of them are expressing some worries, especially about the uncertainty facing them."
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