HK enterprises set to close operations

GUANGZHOU: More Hong Kong-invested enterprises, which are mainly engaged in processing trade businesses in the Pearl River Delta area, may close operations in October and November, said a leading economic and trade official from the Hong Kong Special Administrative Region (SAR) government.

"It is always a golden period in October and November for these companies to clinch deals with overseas buyers as Christmas is around the corner. As a result, if they cannot reach as many overseas clients as usual, they may stop operations," said Peter Leung, director of the Hong Kong Economic and Trade Office in Guangdong province.

Leung's office was set up in 2002 when an increasing number of Hong Kong enterprises had moved to the Pearl River Delta area. "They have helped make the region become one of the most important manufacturing bases in the world," he said.