More factories expected to close
31-01-2009
The Federation of Hong Kong Industries is expecting more Hong Kong-owned factories across the border to shut down in the next two months. Its vice chairman, Stanley Lau, said many factories had extended the Lunar New Year holiday to March and were planning to cut jobs. Factories on the mainland have been suffering due to slumping overseas demand for goods. But Mr Lau said orders should pick up later the year, as importers would need to replenish their inventories.
