On October 25, 2018, Express LUCK attended the research seminar on "Prospering in a Time of Tariffs: How to Ensure Your Business is Not a Trade War Casualty".
Trade tensions between the Chinese mainland and United States are escalating with the US introducing another round of tariffs on US$200 billion worth of mainland goods last month. Exemptions, Section 321 (low value per unit) shipments and relocation are some of the options Hong Kong companies can use to lessen the negative impact and ride out the storm. Industry representatives and legal experts will share practical tips as well as various customs strategies and export options available for Hong Kong exporters to cope with the latest developments in a HKTDC seminar. In addition, representatives from the Trade and Industry Department of the Hong Kong Special Administrative Region (HKSAR) and Hong Kong Export Credit Insurance Corporation will introduce new support measures and services for local companies.
Mr. Nicolas Kwan, CRO of the Hong Kong Trade Development Council (HKTDC) said, as the trade frictions between China and the US heated up, the TDC’s index of Exporters' confidence dropped sharply from 54.1 in the second quarter of this year to 35.8 in the third quarter, the biggest quarterly drop since 2006 and more severe than the financial tsunami a decade ago。
Nicolas continues: "Hong Kong's export performance over the past decade has been better than the world average was better than the world average. In addition to their own competitiveness, but also the diversification of investment business and the international perspective.”
Mr. Sam Chen，Chairman of Express LUCK，also shares the overseas factories experiences at a press conference:
“In the early years, the group has set-up factories and sales centers in various states with the purpose of diversifying investment, locating the company’s team in the local area, effectively managing and controlling costs. At the same time, we will expanding the local market, which has become a rapid and effective business development method of the group. Putting eggs into different baskets to reduce the risk of restriction on imports by individual countries and enjoy local tariff exemption, so as to improve the quality and relatively attract prices for consumers to achieve the promotion effect.”