20,000 Hong Kong factories to close?

June 30, 2008

Source: Bike Biz


Industry association warns that wage legislation and fuel costs may force many to close.

"At the end of this year, maybe only 50,000 Hong Kong- owned businesses will remain," of about 70,000 in the province. That's according to Danny Lau, chairman of Hong Kong Small and Medium Enterprises Association.

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