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Mainland Property Boom to Stimulate HK Export of Hardware Products
Hong Kong' total exports of building materials and hardware to the Chinese mainland are expected to expand, along with the development of the mainland's real estate market, the Hong Kong Trade Development Council (TDC) predicted on Wednesday.
Housing reforms under way on the mainland to gradually replace welfare housing with private housing should constantly stimulate demand for people to buy their own home. Thus the demand for hardware, as well as do-it-yourself (DIY) home maintenance and decorative products is expected to grow at a faster pace, the TDC said in a press release.
According to China Statistical Yearbook 1999 & China Statistical Abstract 2000, total sales of commercial housing on the mainland in 1999 amounted to 265.5 billion yuan (32.4 billion U.S. dollars) and the total floor area of commercial housing sold was 133.8 million square meters, of which 89 percent are residential buildings.
Hong Kong's total exports of building materials, including hardware, increased by 14 percent in the first eight months of this year over the same period of last year to 38.48 billion HK dollars (4.93 billion U.S. dollars), of which 47.2 percent were exported to the Chinese mainland market.
TDC's senior exhibitions manager, Anne Chick, said: " The strong growth in hardware and building materials exports strengthens Hong Kong's status as the sourcing center of such products in Asia."
To showcase Hong Kong's hardware products, TDC on Tuesday kicked off the three-day Hong Kong Hardware, Building Materials & Home Improvement Fair, attracting 162 exhibitors from Hong Kong and 13 other countries and regions.
Major product categories at the fair are building materials, sanitary ware & bathroom fittings, home improvement products, hardware, gardening products, safety equipment and supplies, and DIY products.
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