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- 2 -Mainland China routed through Hong Kong. We are wellaware that the huge growth of Mainland China’s economyalso offers exciting possibilities for building greater tradelinks between Hong Kong and Slovakia.For many years, Hong Kong has served as the main gatewayfor international enterprises entering the Chinese market. Lastyear, around 80% of cargoes handled by Hong Kong weregoing to, or coming from, South China. Around 20% ofChina’s total imports and exports are handled by Hong Kong.In recent years, neighbouring ports in South China have beengearing up their logistics capabilities and offering services atlower costs. Competition is a fact of life for Hong Kong, and Ibelieve the same applies here in Europe.In Hong Kong, these challenges keep us on our toes in ourefforts to maintain our position as the springboard toMainland China. By moving up the value chain, andleveraging on the business-friendly environment created bythe Hong Kong SAR Government, our logistics companies areable to stay ahead and to capitalise on the flourishing Chineseeconomy. To a considerable extent, Hong Kong’s continuingadvantage as a preferred logistics centre is due to the ongoing
- 3 -modernization of our operations, and the constant efforts tooffer improved and value-added services.Nowadays, global sourcing is prevalent. Supply chainsoften cover various parts of the same country, differentcountries, or countries in different continents. Sourcing,manufacturing, consolidation and transportation are highlyspecialized, and interwoven. A small hiccup in any onepart of the supply chain can cause any number of bigproblems: missed berthing slots, re-adjusted schedules,production bottlenecks, extra warehousing costs, and worstof all, missed delivery deadlines and tarnished credibility.In view of this, logistics companies are specialising moreand more in the provision of supply chain managementservices. Speed, efficiency, reliability and transparency arekey success factors for these value-added logistics services,and have increasingly become the profit drivers for allkinds of businesses.Recent developments in the logistics industry play to HongKong’s strengths. So, I’d like to take the opportunity to briefyou on some of these points.
Page 4 and 5: - 4 -Firstly, we have a strong tran
Page 6 and 7: - 6 -there are other factors that g

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