Hong Kong-based footwear companies shift focus to Ch - leatherbiz: Lea Leatherbiz

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Hong Kong-based footwear companies shift focus to China

14/02/2007
 
The vice chairman of the Chamber of Commerce of the Hong Kong Shoe Industry, Zhao Bo Guang, has announced that approximately 30% of Hong Kong-based shoe-making companies are now focusing sales on mainland China as a result of the continued appreciation of the Chinese currency.

Although he noted that the cost of raw materials and labour are rising on the mainland, the domestic Chinese market is becoming more and more attractive and Hong Kong footwear companies feel there is a great deal of potential in the domestic market.

Many Hong Kong-based manufacturers are planning to move to the inland provinces of China and one company, Yuyuan (551), plans to open 1,000 retail shops on the mainland in the next three years.



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