The Outward Processing Arrangement (OPA) concerns the textile industry in Hong Kong and the People's Republic of China. It states that Hong Kong manufacturers can subcontract subsidiary and finishing processes to mainland factories, as long as the "major transformation" of the garment takes place in Hong Kong. [1] Major transformation, however, only needs to amount to 10% of total cloth processing. [2] Any products exported to China for outward processing must be reimported to Hong Kong within 2 months. [1] Effective from 10 June 2005, Hong Kong manufacturers can apply to the Trade and Industry Department of Hong Kong for exemption of export duty in association with the processed garments as they are being exported from China. [3]
The arrangement allow companies in Hong Kong to manufacture and export textile products from China to rest of the world without being subjected to quota and tariff imposed by other countries against China. [4]
The economy of Macau is a highly developed market economy. Macau's economy has remained one of the most open in the world since its handover to China in 1999. Apparel exports and gambling-related tourism are mainstays of the economy. Since Macau has little arable land and few natural resources, it depends on mainland China for most of its food, fresh water, and energy imports. Japan and Hong Kong are the main suppliers of raw materials and capital goods. Although Macau was hit hard by the 1997–98 Asian financial crisis and the early 2000s recession, its economy grew approximately 13.1% annually on average between 2001 and 2006. Macau is a full Member of the World Trade Organization. Public security has greatly improved after handover to the People's Republic of China. With the tax revenue from the profitable gambling industry, the Macau government is able to introduce the social welfare program of 15 years of free education to all Macau citizens. In 2015, Macau's economy saw a sharp decrease due to the reduced spending by visitors from Mainland China since the Anti-corruption campaign under Xi Jinping.
The economy of Bangladesh is a major developing mixed economy. As the second-largest economy in South Asia, Bangladesh's economy is the 35th largest in the world in nominal terms, and 25th largest by purchasing power parity. Bangladesh is seen by various financial institutions as one of the Next Eleven. It has been transitioning from being a frontier market into an emerging market. Bangladesh is a member of the South Asian Free Trade Area and the World Trade Organization. In fiscal year 2021–2022, Bangladesh registered a GDP growth rate of 7.2% after the global pandemic. Bangladesh is one of the fastest growing economies in the world.
The Mainland and Hong Kong Closer Economic Partnership Arrangement, or Closer Economic Partnership Arrangement (CEPA) for short, is an economic agreement between the Government of the Hong Kong Special Administrative Region and the Central People's Government of the People's Republic of China, signed on 29 June 2003. A similar agreement, known as the Mainland and Macau Closer Economic Partnership Arrangement, was signed between the Government of the Macau Special Administrative Region and the Central People's Government on 18 October 2003.
The Multi Fibre Arrangement (MFA) governed the world trade in textiles and garments from 1974 through 1994, imposing quotas on the amount developing countries could export to developed countries. Its successor, the Agreement on Textiles and Clothing (ATC), expired on 1 January 2005.
The textile industry is primarily concerned with the design, production and distribution of textiles: yarn, cloth and clothing. The raw material may be natural, or synthetic using products of the chemical industry.
Li & Fung Limited is a Hong Kong-based supply chain management company. Established in 1906, the company became publicly traded in 1973 and has since played a significant role in manufacturing apparel, toys, and various consumer goods for major North American and European retailers. Significant growth occurred after its public listing, reaching a peak market capitalization in 2011, but the rise of platforms like Alibaba and Amazon, which directly connect manufacturers with consumers, created an increasingly challenging environment for the company.
The Customs and Excise Department (C&ED) is a government agency responsible for the protection of the Hong Kong Special Administrative Region against smuggling; the protection and collection of revenue on dutiable goods on behalf of the Hong Kong Government; the detection and deterrence of drug trafficking and abuse of controlled drugs; the protection of intellectual property rights; the protection of consumer interests; and the protection and facilitation of legitimate trade and upholding Hong Kong's trading integrity.
The Mainland and Macau Closer Economic Partnership Arrangement, or Closer Economic Partnership Arrangement (CEPA) for short, is an economic agreement between the Government of the Macau Special Administrative Region and the Central People's Government on October 18, 2003. A similar agreement, known as the Mainland and Hong Kong Closer Economic Partnership Arrangement, was signed between the Government of the Hong Kong Special Administrative Region and the Central People's Government of the People's Republic of China, signed on June 29, 2003.
Clothing production is an important industry in Mauritius. Clothes are imported and exported in Mauritius. The clothing sector was on the verge of bankruptcy in 2008, but recovered. The sector employed 67,174 people in 2007 and made 1.45 billion dollars in revenue that same year.
The textile and clothing industries provide a single source of growth in Bangladesh's rapidly developing economy. Exports of textiles and garments are the principal source of foreign exchange earnings. By 2002 exports of textiles, clothing, and ready-made garments (RMG) accounted for 77% of Bangladesh's total merchandise exports. Emerging as the world's second-largest exporter of ready-made garment (RMG) products, Bangladesh significantly bolstered employment within the manufacturing sector.
Qualifying industrial zones (QIZs) are industrial parks that house manufacturing operations in Jordan and Egypt. The QIZ program was introduced in 1996 by the U.S. Congress to stimulate regional economic cooperation. Goods produced in QIZ-designated areas in Egypt, Jordan and the Palestinian territories can directly access U.S. markets without tariff or quota restrictions, subject to certain conditions. To qualify, goods produced in these zones must contain a small portion of Israeli input. In addition, a minimum 35% value to the goods must be added to the finished product. The idea was first proposed by Jordanian businessman Omar Salah in 1994.
The World of Pet Supplies is an international pet fair organised by the Hong Kong Trade Development Council (HKTDC).
Manufacturing in Hong Kong consists of mainly light and labour-intensive industries. Manufacturing started in the 19th century after the Taiping Rebellion and continues today, although it has largely been replaced by service industries, particularly those involving finance and real estate.
Clothing industry or garment industry summarizes the types of trade and industry along the production and value chain of clothing and garments, starting with the textile industry, embellishment using embroidery, via the fashion industry to apparel retailers up to trade with second-hand clothes and textile recycling. The producing sectors build upon a wealth of clothing technology some of which, like the loom, the cotton gin, and the sewing machine heralded industrialization not only of the previous textile manufacturing practices. Clothing industries are also known as allied industries, fashion industries, garment industries, or soft goods industries.
Francis Yuan-hao Tien CBE, LLD, DSoSc, JP was a Hong Kong entrepreneur and the unofficial member of the Legislative Council of Hong Kong.
The Federation of Hong Kong Industries is the only statutory industrial organization in Hong Kong, established under the Federation of Hong Kong Industries Ordinance, Cap. 321 of the laws of Hong Kong, in 1960.
Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone is a commercial development in Shenzhen, Guangdong that is also known as Qianhai New District. Located in Nanshan District and encircled by the Shuangjie River, Yueliangwan Boulevard, Mawan Boulevard and Qianhai Bay, Qianhai covers an area of approximately 15 square kilometres (5.8 sq mi), comprising almost entirely reclaimed land. The project is expected to be completed by 2020.
The textile industry in China is the largest in the world in both overall production and exports. China exported $274 billion in textiles in 2013, a volume that was nearly seven times that of Bangladesh, the second largest exporter with $40 billion in exports. This accounted for 43.1% of global clothing exports. According to Women's Wear Daily, they account for more than 50 percent of the world's total overall production, exports, and retail. As of 2022, their textile and garment exports total up to around $316 billion and their retail up to $672 billion. China has been ranked as the world's largest manufacturer since 2010.
The Trade and Industry Department of the Hong Kong Government is responsible for supporting traders and small businesses in the global market.
The Hong Kong Research Institute of Textiles and Apparel (HKRITA) is a public research institute in Hong Kong. It was established in April 2006 and hosted by The Hong Kong Polytechnic University (PolyU). With funding support from the Innovation and Technology Commission, HKSAR Government, it acts as a focal point to enhance technological innovation in textiles and apparel industry for the development of highly competitive industrial clusters in Hong Kong and the Greater Bay Area.