Latest news with #HongKong-produced
RTHK
7 days ago
- Business
- RTHK
'HK-made Chinese medicines to grow in popularity'
'HK-made Chinese medicines to grow in popularity' Wing Chu (left) says streamlined approval procedures offer more opportunities for Hong Kong-made proprietary Chinese medicines to be sold on the mainland. Photo: RTHK Hong Kong-made proprietary Chinese medicine products have great potential to enter mainland and overseas markets, the Hong Kong Trade Development Council said on Thursday. The mainland, which is the largest proprietary Chinese medicine market valued at 450 billion yuan, has streamlined the registration and approval procedures for products from Hong Kong. At a press conference, the council's principal economist of Greater China, Wing Chu, said Hong Kong's exports of proprietary Chinese medicines totalled HK$2.88 billion last year. More than 70 percent of the city's products were exported to the mainland, followed by 20 percent to Macau. Although the mainland mainly relies on its own drug production and only imports a small amount of Chinese medicines, over half of its imported proprietary Chinese medicines are from Hong Kong, Chu said. He added that the streamlined approval procedures offer more opportunities for Hong Kong businesses to expand into the Greater Bay Area and other mainland cities. 'Maybe Hong Kong-produced products are not the cheapest in the market, and there are a lot of alternative choices over there, but Hong Kong proprietary Chinese medicine products have a [good reputation] in mainland China, especially in the southern part of mainland China,' he said. Chu said there is also demand for Chinese medicines in overseas markets, particularly in Southeast Asia. 'But apart from this, there is also a lot of demand … even in the US or some European countries. They also have a demand for the traditional Chinese medicines. And this actually provides a very good market potential for us to explore,' he said. The council also said the opening of Hong Kong's first Chinese medicine hospital at the end of the year will help make proprietary Chinese medicines even more popular.
South China Morning Post
19-04-2025
- Business
- South China Morning Post
Hong Kong SMEs need all the help they can get to survive US tariffs
Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at [email protected] or filling in this Google form . Submissions should not exceed 400 words, and must include your full name and address, plus a phone number for verification Advertisement I am the director of a long-time small business in Hong Kong. The recent US tariffs and elimination of the de minimis shipping exemption have crippled my business, which relies upon shipping our Hong Kong-produced goods to customers in the US. Now that Hongkong Post has done its part in further disrupting Hong Kong's economy by refusing to accept any parcels to the US, I can only hope that things will de-escalate before I am forced to wind down my business and set up operations in another country. In the interim, I call on the Hong Kong Monetary Authority to require all the city's banks to do their part in supporting the city's struggling small and medium-sized enterprises by permanently abolishing the banks' completely unnecessary minimum balance requirements for business accounts. For example, our bank demands that we maintain a HK$100,000 (US$12,900) minimum balance in our account or be hit with punitive fees if it falls below this level. This is totally without justification as the balance in our account has absolutely no impact on the bank's operations or administrative costs. In these very challenging times, it's often the little things that help. Advertisement T. Schmidt, Tai Koo
