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The Hong Kong Trade Development Council's Chief Economist Edward Leung expects that a 3.3 percent growth will be recorded in exports this year in Hong Kong, down from 4 percent as forecast previously.
Leung said at a press conference Wednesday that the "resumption of traveling by overseas buyers, coupled with the renewed marketing efforts of Hong Kong suppliers should bode well for Hong Kong exports."
He believed that the exports would likely to pick up more strongly only towards the last quarter of 2003.
His forecast is partly based on a survey conducted in mid-May in which 314 exporters and manufacturers were interviewed on SARS' impacts on their business.
The survey revealed that SARS kept many buyers staying away from Hong Kong and the Pearl River Delta region.
Fortunately, some regular overseas buyers continued to place orders with Hong Kong companies while staying away from the city.
However, big companies enjoyed an advantage because overseas buyers had greater trust in them than in the small and medium-sized companies.
(Xinhua News Agency May 29, 2003)
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