Major Speeches, Presentations and Press Releases

Speech by SCED at opening ceremony of 36th HKTDC Hong Kong Watch & Clock Fair (English only)

     Following is the speech by the Secretary for Commerce and Economic Development, Mr Edward Yau, at the opening ceremony of the 36th Hong Kong Trade Development Council (HKTDC) Hong Kong Watch & Clock Fair today (September 5):

Moses (Co-chairman of the HKTDC Hong Kong Watch & Clock Fair 2017 Organising Committee, Mr Moses Leung), Margaret (Executive Director of the HKTDC, Ms Margaret Fong), distinguished guests, ladies and gentlemen,

     Good morning.

     It is my great pleasure to officiate at the Watch & Clock Fair 2017.

     A good watch needs to be wound regularly and its movement has to be precise, punctual and perpetual.

     There is an idiom saying that things are going smoothly "like clockwork" and it is an appreciation of the highly organised, precise and seamless movement. It is an ideal operation that government and organisations and a highly developed city like Hong Kong would subscribe to and aspire to become.

     Just like Hong Kong. We are a tiny spot on the map, but a shiny pearl in Asia, gathering talents, capital and ideas from around the globe. Every sector serves its distinctive function and together we work and wind to drive our economy and create wealth over time.

     Take this Hong Kong Watch & Clock Fair as an example. It is the preeminent timepiece event in the world. It provides a platform for international suppliers and buyers to gather and do business. The reasons that this fair finds Hong Kong its home and has continued success over 36 years demonstrate that Hong Kong works precisely like a repeater watch that chimes at regular time intervals.

     Outside this exhibition hall, Hong Kong provides a platform for the wider business community. With our unique advantage under "one country, two systems", Hong Kong is the ideal dial to showcase the opportunities in the fast growing markets in Mainland China and Asia, as well as for Mainland Chinese companies to "go global". "One country, two systems" shows how the gears between Hong Kong and the Mainland engage themselves to put our respective hands towards the right direction that tells success over time.

     Figures can best tell this point. Let us look at the watch and clock industry. Hong Kong is the largest importer and second largest exporter of complete watches in the world. Last year, the total trade of watches and clocks in and out of Hong Kong amounted to US$17.5 billion.

     The Belt and Road Initiative and the development of the Guangdong-Hong Kong-Macao Bay Area will offer added and abundant opportunities. With enhanced infrastructure and strengthened bonding along the Belt and Road, all sectors of business will benefit from the increasing demands and improving connectivity. The Bay Area together with Belt and Road provide Hong Kong like a watch equipped with a stronger barrel and longer main spring to store and release the energy that propel trade and perpetuate our growth.

     Time is of essence. When the clock ticks, it urges you to capture opportunities to ride on the train that Belt and Road can take us to venture into new grounds and markets beyond our usual horizon.

     No matter whether you are an exhibitor showcasing your new products, or a buyer looking for new partners, I wish you a great success in this fair and most important of all, enjoy your time in Hong Kong.

     Thank you.

Ends/Tuesday, September 5, 2017
Issued at HKT 12:48