Hong Kong News

Nonpartisan, Noncommercial, unconstrained.
Friday, Dec 13, 2024

Friday Beyond Spotlights - Sunny Tan: Weaving into the Fabric of the Global Economy

Friday Beyond Spotlights is an informative yet light-hearted talk show airing every Friday at 8:30pm on Hong Kong International Business Channel (#76).
The English language program features prominent guests who share their insights into current affairs, business, innovation and culture, as well as their ingenuity, passion and grit which forge their Lion Rock spirit. The show is hosted by businessman and philanthropist Patrick Tsang On-yip, lawyer and lawmaker Nick Chan Hiu-fung and seasoned business maverick Herman Hu Shao-ming.

Hosted by Nick Chan, episode 4 of Season 2 features Sunny Tan, elected Legislative Council member of the Hong Kong SAR representing the textiles and garment functional constituency; Chairman of the Hong Kong Productivity Council; and Executive Deputy Chairman of the Federation of Hong Kong Industries.




Tan is a senior advisor of Luen Thai Holdings, which produces 74 million pieces of garments a year. Founded by Tan’s father (renowned industrialist and philanthropist Dr Tan Siu-lin who is now the group’s honorary life chairman) in the 1960s, Luen Thai has grown from a small family-run business into one of the world’s leading manufacturers of apparels and accessories, employing over 50,000 people with 20 production facilities and offices globally. Growing up under the guidance of Dr. Tan, Tan has witnessed not only the growth of the company, but also the development of Hong Kong’s textiles and garment industry.

Evolution of Hong Kong’s apparel industry

Tan pointed out that Hong Kong’s textiles and garment industry started in the 50s and 60s with the capital and expertise from entrepreneurs coming from Shanghai and Guangdong, and the industry was booming from the 70s to 90s in Hong Kong. The manufacturers started building factories overseas from the mid-70s as their growth was impeded by the import quotas imposed by the US and European countries, and expanding into Mainland China aggressively after the country opened up in late 70s. They have achieved good growth in Mainland China, especially after the country’s accession to the WTO and the elimination of import quotas in early 2000s. However, with the rapid growth of the economy in Mainland China, the minimum wage of workers has gone up, making some manufacturers to move production back to overseas countries.

“Hong Kong businessmen have been playing a very significant and important role in the textiles and garment industry throughout these times, overcoming the challenges with their strong entrepreneurial spirit. For example, as our growth was limited by the import quotas introduced in the mid-70s, we tried very hard to find places where quota is available to build factories and ship the goods there, even places that we might not have heard of,” he said.

Digital transformation of manufacturing

Tan said the textiles and garment industry is now going through an evolution with Industry 4.0, or Fourth Industrial Revolution, which involves a lot of big and smart data to transform manufacturing, and solve some of the traditional inefficiency of the industry, such as the lack of data to make decisions. “What we’re trying to achieve is to have the entire supply chain communicates along with all the data points. For example, if we are able to shorten our production lead time, we will be able to channel the consumer behaviour closer to the market to decide what colour to make, and what style to make. It will eliminate a lot of unwanted and unnecessary inventory.”

Importance of family disciplines and values

In the program, Tan showed audience a framed “jia xun” (or family disciplinary rules in Chinese) as the item which has a special meaning in his life, shaping him into who he is today. This contains a total of 12 family disciplinary rules and values, including “Live with honesty and integrity”, “Work hard, don’t spend beyond your means and manage your household”, “Filial piety and love and respect for your siblings”, “Work together as a team to build the family business empire,” and “Serve the community and bring glory to your ancestors.”

“These were hand-written by my dad back in 1985. This is very important as it is guides us, especially when we are going through difficult times. What kind of values do we want to live up to? What kind of values do we want to leave to our children? How do we manage our family and household? It’s all in here,” he said.

Hong Kong to move forward to the next phase

Commenting on the future of Hong Kong, Tan said every city will be going through different phases of development. “We’ve been successful in going through those phases and now we’re just going through the next phase. What we can see is that Hong Kong can continue and will continue to leverage its ‘One Country, Two Systems’ advantage because we have China, our own country, behind us and supporting us. We are also facing the international market where Hong Kong has been very strong. Together with innovation and technology, Hong Kong will grow and we will need a lot of talents. I am sure that we, together with our younger generation, will be able to develop this opportunity into something that is good for all of us.”

To watch the video, visit Friday Everyday YouTube Channel – Friday Beyond Spotlights Season 2 Ep. 4 l Sunny Tan

Part 1: https://youtu.be/-9x25DP3YIQ

Part 2: https://youtu.be/SkkzY-r6Mkg
Newsletter

Related Articles

Hong Kong News
0:00
0:00
Close
It's always the people with the dirty hands pointing their fingers
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Steve Jobs' Son Launches Venture Capital Firm With $200 Million For Cancer Treatments
Google reshuffles Assistant unit, lays off some staffers, to 'supercharge' products with A.I.
End of Viagra? FDA approved a gel against erectile dysfunction
UK sanctions Russians judges over dual British national Kara-Murza's trial
US restricts visa-free travel for Hungarian passport holders because of security concerns
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Political leader from South Africa, Julius Malema, led violent racist chants at a massive rally on Saturday
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
'I am not your servant': IndiGo crew member, passenger get into row over airline meal
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Spanish Citizenship Granted to Iranian chess player who removed hijab
US Senate Republican Mitch McConnell freezes up, leaves press conference
Speaker McCarthy says the United States House of Representatives is getting ready to impeach Joe Biden.
San Francisco car crash
This camera man is a genius
3D ad in front of Burj Khalifa
Next level gaming
BMW driver…
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Joe Biden admitted, in his own words, that he delivered what he promised in exchange for the $10 million bribe he received from the Ukraine Oil Company.
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
×