Together We Counter the Adversity, Stay Resilient and Embrace Opportunities
From early 2020 onwards, we have experienced an array of economic disruptions brought upon by the coronavirus pandemic. Coupled with the ripple effects of US-China trade conflicts and local social movement, the socio-economic environment in Hong Kong is facing new risks of uncertainty and instability. This situation happens to echo the western academia’s portrayal of the recent global landscape — the only thing certain is uncertainty. The global happenings surrounding the political and economic climate is certainly out of our hands, but what we can do to overcome such adversity is to keep upgrading ourselves in both aspects of soft power and hard power, and to stay resilient in pursuit of innovation, thereby exploring new paths and opening up new opportunities while rising to this once-in-a-century challenge.
The Revival: Getting Started on Post-pandemic Planning
Looking back on our virus fight, it has been a reviving experience. After the Chinese New Year holidays, the first immediate task for manufacturers was to make work arrangements for the re-opening of offices and factories, and to resolve supply chain and logistics issues after the lockdown. The subsequent task was to onboard new hires for production ramp-up, but then plans were slammed by a slump in overseas orders for Europe and the US. To keep our business going, our working plans and human resources had to be re-arranged. No doubt the pandemic has repeatedly caused disruptions into our business planning, production and operation; but it was encouraging to see how our member companies have fought tooth and nail to resume factory operation with virus-fighting measures. Their effort has exemplified the indomitable entrepreneurial spirit.
A member came to us for production support to urgently supply protective googles for Hong Kong Hospital Authority. In response, we made prompt arrangements among our member companies and rolled out an action plan from production management, product design, moulding to plastics and materials, to deliver the products for the medical front line in the shortest possible timeframe. Not only was the entire process smooth and efficient, it also showed that even under extreme circumstances, the industry was blessed with professional practitioners and corporates equipped with fast-responding mobilisation power, as well as the ‘Lion Rock spirit’ that held us together as one fighting team. I wish to convey my sincere thanks to all the parties who devoted their time and effort during the process.
In this pandemic, we have witnessed both the vulnerability and resilience in our lives, and the ups and downs of the manufacturing industry. Countering such challenges is indeed a journey for us to fully evaluate ourselves and the surrounding environment we are in. From a more optimistic perspective, it is important to note that this is also survival of the fittest for businesses amidst all odds and changes, posing as an opportunity for us to draw up post-pandemic development plans and strategies that can revive the business and bring it to new heights.
Regaining Confidence and Composure for New Opportunities Amid Crisis
Over the past 2+ years, anti-globalisation political attempts have brought upon certain impacts, whilst greatly hit by the coronavirus pandemic, advanced economies around the world have streamlined the industry supply chain and undergone regional restructuring with mounting uncertainties in the international market. After 40 years of our economic reform and opening up in China, the total production value of our manufacturing industry has surpassed that of other countries. Nevertheless, as the pandemic-control measures have become part of our normal routine, the re-opening of factories and production lines has shown satisfactory performance that supported an economic rebound in the second quarter. In addition to investment in traditional large-scale infrastructural projects, China has been speeding up the establishment of supporting facilities for information technology industry with new development strategies for building up innovative 5G+ industrial networks. This implies that despite the pandemic hit on our economy, the foundation of industry development has not been affected while new drivers and projects are still underway to create more business opportunities in the country. Hence, we have full confidence in the future of manufacturing.
In the face of a volatile and ever-changing market landscape, we should reassess our strategies with a different business mindset, keep our confidence and composure in line with the determination to push through the adversity, and leverage on the relief and preferential policies in China and Hong Kong. There are still a lot of areas to seek improvement within our companies, such as enabling faster business response, enhancing design capability, speeding up product development, facilitating innovation in technology and skills, as well as investing in advanced automated production. These endeavours can in fact strengthen our potential to further tap into the Mainland market on one hand, and support a more diversified business development with new ventures into the international market on the other, thereby creating a new horizon for driving future growth.
Counter the Adversity, Stay Resilient and Embrace Opportunities
Due to the coronavirus situation, the HKMDC has adopted new approaches to advise our committee affairs, and enable social interaction via internet platforms for members to keep abreast of new developments. I am glad that this has received wide recognition and approval among members. In addition, we are also planning ahead for a project that can compile the leading technologies and features of our member companies and surrounding industries to exhibit a complete set of application-ready production solutions in wide-ranging industry expositions, as a technology showcase of Hong Kong industries. This project entails an array of areas that may require further assistance and support from members and practitioners in related industries.
To fight against the odds, it is crucial for us to stay resilient and support one another among ourselves. The HKMDC, serving as the representative and coordinator of the industry, shall continue to keep members updated on the new happenings and technological development in the industry, and to forge closer rapport with industries across sectors and geographical locations for more cross-industry and cross-region cooperation. Only by leading our member companies to nurture new drivers for innovation, technology, techniques and productivity improvement, can we seek mutual growth and development in the future. Last but not least, I wish to give you my best regards for good health and new achievements in business for further success!
