Director of IEMS Albert Park discussed findings of CEES during the Money Talk radio program on RTHK Radio 3. He mentioned that one of the most comprehensive surveys was intended to help “understand how Chinese manufacturing firms are coping with very challenging environment of rising wages and slowing external demand”.
Among the biggest challenges Chinese firms are currently facing Professor Park named losses that about 20% of firms are suffering, rising labor costs that make China a no longer cheap production country, shortage of labor due to high turnover amounting to 26%, insufficient demand, and overall struggle with productivity growth.
Despite those facts it is necessary to see how the economic situation unfolds as the country moves forward, added Albert Park.
Money Talk is presented by former CEO and investment bank global trading head Peter Lewis, with over 30 years’ industry experience. It features market analysis and discussion with guest experts on the day’s top business stories live from 8 a.m. to 8.30 a.m. every weekday morning on RTHK Radio 3.
Listen to the full episode Money Talk: Challenges Facing Chinese Manufacturers
Photo by Chris / Flickr. CC BY-NC 2.0 https://flic.kr/p/8YKhk5
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