FHKI 60th Anniversary Commemorative Album

Guangdong Province in particular the PRD region, is the nearest investment destination on the Mainland, for Hong Kong industrial enterprises. This industrial collaboration process was mutually beneficial to Hong Kong and Guangdong. Hong Kong industrial enterprises brought to Guangdong not only capital, but also manufacturing technologies, machinery and equipment, management skills and customers. Taking advantage of low production costs, Hong Kong industrial enterprises were able to achieve “explosive” expansion. The scale of Hong Kong industries was about ten times of the industrial sector at its peak in Hong Kong. The northbound relocation of Hong Kong industries to the Mainland, in particular to the Pearl River Delta (PRD) region, was a natural development. In the late 1970s to early 1980s, the further development of Hong Kong industries was limited by severe shortage of labour, rapid increase of land and manpower costs and scarcity of industrial land. Neighbouring new industrial economies were also threatening Hong Kong’s position. The economic opening policy of the Mainland was very timely as it provided opportunities for Hong Kong industries to try new operation formats and business models. Dr Victor Lo is Chairman and Chief Executive of Gold Peak Industries (Holdings) Ltd. During his FHKI chairmanship in 2001 to 2003, he initiated a research-based study to obtain statistics on the size and economic importance of Hong Kong industries in the Greater PRD region, so as to understand the relationship between the economic activities of Hong Kong industrial enterprises operating in the PRD region and the development of Hong Kong’s economy. Victor Lo 香港工業總會六十周年紀念專集 38