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The 2016-17 Budget

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Budget Speech

Fashion Industry

54.    Hong Kong's textiles and clothing industry has a solid foundation.  Many famous fashion designers have had spectacular success in creating their own brands.  The trade has been dedicated to grooming and nurturing talent.  An organisation offers co-working space in an industrial building for promising fashion designers and introduces their designs to international markets.  A long-established spinning mill plans to revitalise its old factory into an incubation centre for fashion designers and other related facilities.  Promoting collaboration between fashion design and the clothing industry to move them up the value ladder will enable them to generate greater economic benefits.

55.    I agree with the recommendations of the Economic Development Commission on promoting the development of the fashion industry.  I shall consolidate the existing resources and invest new resources, totalling $500 million, to launch a series of measures on a pilot basis in the next three years.  These include promoting Hong Kong's fashion designers and brands through improving local fashion events and participating in those held overseas, rolling out an incubation programme for up-and-coming fashion design start-ups, providing fashion design graduates with overseas internships and study opportunities, and subsidising participation in international competitions and exhibitions.  We shall also set up an advisory body for the trade to advise on and co-ordinate the implementation of these measures.



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