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HKRMA NEWSLETTER 零售商

Message from the Chairman of HKRMA

香港零售管理協會主席之話

Ms. Caroline Mak, JP

麥瑞琼女士

Sluggish outlook calls for caution

Hong Kong recorded the slowest economic growth in the first quarter this year since 2012, at 2.5% year-on-year in real terms. Although the Government has maintained its 2014 forecast of real GDP growth rate at 3% to 4%, there are clearly more business risks in Hong Kong.

In February 2014, there was a decrease in retail sales for the first time since August 2009, falling 2.2% in value and 2.1% in volume. The trend continued over four consecutive months with sales values plummeting to 4.1% in May, after a 9.8% plunge in April. The Association readjusted its 2014 retail value performance forecast to about 5% in the wake of a continuing downward slide.

The possibility the Government may curb the growth of Mainland visitors to Hong Kong has brought a lot of concern to the industry. With a dismal economic outlook, the Association is urging the Government not to change the current policy regarding the Individual Visit Scheme (IVS). Many retailers, if not all, are already suffering from slower growth in the number of the Mainland visitors as well as their dwindling spending, and any unfavourable policy change will only worsen the situation. Besides economic concerns, we strongly feel that Hong Kong's status as a free port, an international city embracing the core values of a free market economy and culture of hospitality should be protected and upheld. To tackle the root problem, we believe the Government should take determined steps to expand Hong Kong's tourist reception capacity and related infrastructure without delay.

Hong Kong's competitiveness is closely linked with its highly versatile and hardworking labour force. Two major consultations on labour matters are in progress at the moment, including a review of the Statutory Minimum Wage (SMW) and the proposed Standard Working Hours (SWH).

The Association has been urging the Minimum Wage Commission to be cautious and conservative in reviewing the SMW rate; it should avoid large-scale changes in considering an adjustment of rate in order to allow flexibility at a time when our economy is undergoing slow, or even negative, growth.

Regarding the proposed Standard Working Hours, while we support a work-life balance and agree with the policy objectives, we believe the key underlying problem of long working hours in Hong Kong is the acute shortage of labour. Without addressing the labour shortage and by hastily moving to regulate working hours, it will result in a decrease in our economy's flexibility and further damage our free market principles.

前景欠佳 謹慎而行

今年香港的首季實質經濟增長按年為2.5%，為2012年 以來最小的增幅。儘管政府維持全年實質本地生產總 值增長3%至4%的預測，本港的營商風險已明顯增加。

與去年同期相比，今年二月的零售銷售價值下跌 2.2%，銷售量則下跌2.1%，是2009年8月以來首次 倒退。跌勢更持續四個月，四月的銷售價值大跌9.8% 後，五月跌幅為4.1%。鑑於業界面對持續的下跌周 期，協會將2014年全年零售價值預測調整至大約5%。

對於政府近日考慮控制內地旅客的增幅，令業界深感 憂慮。由於經濟前景欠佳，我們促請政府維持現時的 「個人遊計劃」政策。其實，不少零售商已受內地旅 客增長放緩及消費減少影響，任何不利業界的政策變 動將會令零售業雪上加霜。

除了經濟考慮，我們亦認為必須保持香港作為自由港 的地位，繼續成為重視自由市場經濟及旅遊文化的國 際都會。要解決根本的問題，我們認為政府應該採取 果斷的行動，盡快提升本港接待旅客的能力，並增加 相關基建。

一直以來，香港的競爭力都是建基於勤奮靈活的勞動 人口。目前，政府正就勞工事宜進行兩項重要諮詢， 包括檢討法定最低工資以及研究就標準工時立法。

我們一直促請最低工資委員會於檢討法定最低工資時 應審慎行事，避免大幅度調整法定最低工資，讓商界 在經濟增長放緩或出現負增長時，仍能靈活應變。

有關立法規管標準工時的建議，我們固然支持工作與 生活平衡的概念，亦認同有關政策目標，但我們相信 現時本港工時過長的主原因是嚴重缺乏人手。若未能 解決人手短缺的根本問題，便倉卒規管工時，將會有 損經濟的靈活性，並破壞自由市場機制。

另外，最近成立的競爭事務委員會現正邀請商界就草 擬的指引發表意見，確保指引符合本港現行的營商慣 例。《競爭條例》將會分階段實施，而協會將會積極 協助業界與競爭事務委員會溝通。