Hong Kong retail sector recovering
1/12/2003 17:46
Hong Kong's economic recovery has boosted its retail sector, with
14,000 new jobs expected to be created in the retail industry in the coming two
years.
The Chinese mainland's new rule allowing individuals to visit Hong
Kong has led to an overall economic recovery in the island city, with retail
volumes returning to the same levels as before the SARS outbreak, said Yu Pang
Chun, chairman with the Hong Kong Retail Management Association.
More than
160,000 workers are currently needed in the local retail industry, with the
number expected to increase to 182,000 by 2005, Yu said.
According to
economic data released by the Hong Kong Special Administrative Region, in the
third quarter of the year, Hong Kong residents' spending increased by 3.8
percent from the second quarter, with expenditures in consumer goods and
services rising.
Many retailers will increase the number of their outlets
and expand their recruitment plan.
Hong Kong cosmetics chain giant SaSa
International has recently reported more than 20 percent sales growth, and plans
to open five or six new stores in the coming several months, creating nearly 200
new jobs.
Wendy Zhang/ Shanghai Daily news
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