Thursday, 15th April 2004 (4321 views)

Jewellery demand is helping boost Hong Kong's economy under a new free trade deal with China.

Now factories which once manufactured cheap plastic toys are being turned into jewellery producing outlets. The city's Jewellery Manufacturers' Association claimed that once the deal is fully in place it could mean double digit growth.

"We make most of our stuff in China, but our Hong Kong plant is invaluable for emergency orders," said Michael Luk, general manager at Nelson Jewellery Arts Co Ltd told Al Jazeera.

The company mass produces gold and diamond jewellery for chains in Europe and the United States and plans to take on extra Hong Kong workers this year.

According to the company the Hong Kong plant allows its customers to get the latest jewellery fashions sooner because it saves three days of production.

The Closer Economic Partnership Agreement free trade deal took effect in January, offering zero tariffs on a number of Hong Kong made goods.

 

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