Hong Kong Market - THE VIEW FROM HONG KONG

It has been a tough road for Hong Kong, with USChina Trade War, pro-democracy protests and finally, coronavirus. But thanks to the indefatigable spirit of Hong Kongers, the city has managed to beat the virus. In the same spirit, with the support of the Government that believes in the business capability of its small and medium scale entrepreneurs, the jewellery industry will come out of this crisis says Vijetha Rangabashyam

- Vijetha Rangabashyam

The slick city has been back in action for over couple of months now. Hong Kong is one of the densest cities in the world with high rises literally stuck to each other. The transportation is almost always packed to the brim. Some of the best restaurants in Hong Kong barely have space for people to move around. Be that as it may, this financial hub whose efficiency and skill many countries world over are dependent on, managed to beat the virus and its resurgence as well, thanks to its citizens. Perhaps it was the experience from SARS and many other epidemics before that, the people of Hong Kong are definitely equipped to handle a pandemic of this scale better than most countries – they are organized and have a sense of self-discipline, so much so that even when the Government banned masks, Hong Kongers went onto wear masks, distributing them and encouraging fellow citizens to wear them.

Life is back to normal today, with restaurants, bars and stores having opened up late June. However, people are erring on the side of caution with social distancing norms in place. It has been a cruel year for Hong Kong – a bustling city with thriving economic activities has been subject to one blow after the other. The pro-domestic protests that engulfed the city in 2019 are still ongoing and the threat of the virus brought the city to a standstill for nearly 3 months. The imposition of National Security Law might spark more confusion and trouble for the business community in Hong Kong. One of the biggest revenues for the city is tourism, which has been badly hit since March and with the government imposing restrictions on foreigners flying into the country, it looks like tourism will remain affected for the foreseeable future.

An export-driven market