Hong Kong unveils manufacturing study to boost smart solutions
- A study conducted by HKPC and Deloitte China found that 81% of surveyed manufacturing companies in Hong Kong have not adopted smartification solutions.
- The report highlights the growing importance of customization and green manufacturing as key trends for the industry.
- HKPC proposes seven recommendations to rejuvenate the manufacturing sector, emphasizing the need for technological advancement and a shift in industry perception.
The Hong Kong Productivity Council (HKPC) has released findings from the 'Hong Kong Manufacturing Industries Development Study Report,' conducted in collaboration with Deloitte China. The study, which surveyed 288 manufacturing companies from March to July 2024, revealed that a staggering 81% of these companies have not yet adopted smartification solutions to meet the rising demand for customization. Only 19% have implemented such solutions, while 53% reported being unable to address the customization challenge. This highlights a significant gap in the industry's readiness for technological advancement. The report emphasizes the need for Hong Kong's manufacturing sector to adapt to new trends, particularly in customization and sustainable development. As global demand for green manufacturing grows, the report suggests that this could become a vital growth area for Hong Kong's service industry. The HKPC has proposed seven key recommendations aimed at rejuvenating the manufacturing sector, focusing on developing 'Microfactories' and enhancing green manufacturing services. In addition to technological upgrades, the report calls for a shift in the perception of the manufacturing industry. It encourages enterprises to leverage government resources to improve factory environments and create high-quality job opportunities. Attracting diverse technical talent and reshaping the industry's image are crucial for fostering innovation and competitiveness. Overall, the findings underscore the urgent need for Hong Kong's manufacturing sector to embrace new productive forces and technological innovations to remain competitive in a rapidly evolving global landscape.