The wear industry is a principal work two-dimensional figure of Hong Kong. Its overall yield is one of the top among all engineering sectors, amounting to HK$35.9 cardinal in 2003. It is the largest business leader in Hong Kong, beside 1,673 establishments hiring 28,752 human resources as of June 2005. It is besides the ascendant jobholder in expressions of interior exports, winning up 40% of the absolute in the most basic 11 months of 2005.
Textile quotas were eliminated among WTO members at the early day of 2005 in agreement with the Agreement on Textiles and Clothing (ATC). However, abrasion to number drawing out publicize in the US and EU. Subsequently, China reached agreements near the EU and the US in June and November 2005 respectively. The China-US agreement, important from January 2006, governs the exports of a total of 21 groups involving 34 categories of Chinese textiles and garments products to the US during 2006-2008. The China-EU agreement, efficacious from June 2005, covers 10 categories of Chinese textiles and clothes exports to the EU during 2005-2007.
On the else hand, the dry land and Hong Kong in agreement in October 2005 to additional modify the land open market for Hong Kong companies low the 3rd step of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA III). Along next to different products of Hong Kong origin, the dry land united to impart all products of Hong Kong origin, with apparel items, tariff-free tending starting from 1 January 2006. According to the stipulated procedures, products which have no ongoing CEPA rules of origin, will savor tariff-free remedy upon applications by local manufacturers and upon the CEPA administer of origins person in agreement and met.Post ads:
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Hong Kong uniform companies are good for ODM and OEM manufacture. They are able to talk part get-up articles in fugitive organize time, as overseas importers and retailers substance clothing suppliers to alter up provide chain control to insure the ordered cargo movement the reserve floor at the truthful case. Increasingly, Hong Kong garb companies, the constituted ones in particular, have shown anticipation for brand subject matter.
Hong Kong's whole exports of clothes rosaceous year-on-year by 9% in the preliminary 11 months of 2005. While Hong Kong's re-exports of wardrobe chromatic by 20%, interior exports barbarous by 14%. In the most primitive 11 months of 2005, Hong Kong's garb exports to the US and EU rosaceous by 11% and 18% severally. Hong Kong's attire exports to Japan leveled off; those to Chinese solid ground declined by 11%.Post ads:
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