The French “Textile” recently reported that fashion is an important sector of Hong Kong’s economic prosperity. The industry is the second largest employer in Hong Kong, with 1,607 companies and 24,000 salaried personnel. The export proportion of this industry accounted for 8% of Hong Kong’s total exports in 11 months of 2008, about 20 billion euros.
In order to support enterprises and stabilize the economy, the Hong Kong government has announced a series of measures to help enterprises. First, in order to create more than 60,000 jobs in 2009, the Hong Kong government provided 10 billion euros in guarantees for corporate loans in December 2008; secondly, in order to reduce the burden on some enterprises, the Hong Kong government recently introduced measures to reduce value-added tax on some export products; finally To further promote Hong Kong as a center of tourism and activities, Hong Kong has allocated 15 million euros. At the same time, the Hong Kong Trade Development Council provided a 12 million euro aid plan to help small and medium-sized enterprises tide over the financial crisis.
