Import/export sector hopeful for market after Sino-US trade talks

Some in the city's import and export sector believe results from the recent Sino-US trade talks have yielded positive signals for the market.

This as some academics remind markets to temper expectations and wait for official announcements on the latest discussions between Beijing and Washington.

As China and the US reach a positive consensus on several trade-related issues during the latest Sino-US trade talks, representatives from the city's important and export sector believe the establishment of the US-China Board of Trade signified a return to stable economic cooperation.

Lawmaker Tommy Chung from the Import and Export Constituency says the establishment of the board of trade implies the increased willingness for both parties to dialogue with each other.

Addressing US tariff reductions on Chinese toys, home appliances and baby products, Chung says mainland production lines and the local export sector have already adapted to the situation soon after US President Donald Trump initiated the trade war.

He adds the industries are unlikely to make any new adjustments in the near future.

This while noting Hong Kong will seek more trade opportunities in European and American markets in light of improved Sino-US trade relations, the lawmaker is sceptical of a major rebound.

Some international relations academics, however, stress the latest consensus between the two major economic powers only marks an initial step towards warmer ties, emphasising the public should wait for the official announcement on the talks.

Hui Ching, the research director of the Hong Kong Zhi Ming Institute, says only two of the eight points of Sino-US consensus pertain to trade, adding many observers hold overly optimistic views on the talks' results.