Export target raised amid AI boom: HKTDC
The Trade Development Council substantially raised its annual forecast for export growth to between 42 percent and 47 percent on Monday, citing stronger-than-expected global demand for artificial intelligence-related technologies. The council made a forecast of 20 percent growth in June. "Demand for semiconductors, memory chips, computer components, telecommunications equipment and other advanced…
Hong Kong's Trade Development Council has significantly increased its annual export growth forecast to between 42 percent and 47 percent, driven by robust demand for artificial intelligence-related technologies, according to a report on Monday. The council previously projected a 20 percent growth in June.
Director of research Bruce Pang attributed the surge in demand to faster-than-anticipated growth in sectors like semiconductors, memory chips, computer components, telecommunications equipment, and other advanced electronics. In the first eight months of the year, exports of electronics surged by 52.8 percent, representing about 80 percent of the city's total exports.
Pang also highlighted recent developments in China-US relations as contributing to a more favorable trade environment, mitigating the risk of additional tariff escalations. He emphasized that the combined impact of strong global demand for technology products and improved trade relations should bolster Hong Kong's export performance in the coming months.
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