Costs strain Chinese manufacturers

Ten per cent of Hong Kong?s manufacturers face closure despite expected growth in global revenue.
Author:
Publish date:
5_Pocoyo.jpg

Between 300 and 400 small to medium companies setting up on the mainland could be forced out of business due to the rising cost of wages, raw materials and oil.

This is despite an expected three per cent growth in global revenue.

Lawrence Chan, chairman of the Hong Kong Toy Council said operating costs have risen by 15 per cent, putting pressure on about 10 per cent of Hong Kong’s 4,000 companies.

"Many toy companies are looking to raise prices. So despite the sales volume, in particular in the United States, which is expected to remain constant [amid the expected economic downturn], we are cautiously optimistic that a three per cent growth in revenue can be achieved," he said.

Related

5_Pocoyo.jpg

Corgi on the up

Firm?s net revenue increases by $1.2 million to $43.3 million with further growth expected for the full fiscal year 2008.

Featured Jobs

GAMEPLAN LOGO 3D hi res

Marketing Director UK

Gameplan I Southeast of England I Salary: Competitive I Date Published Monday 7th January 2019

Rainbow logo landscape_home of classic Final

Product Manager

Rainbow Designs Ltd I Olympia, London I Salary: Competitive I Date Published Wednesday 16th January 2019