On 7th Sept, 2011, Mr. Y. F. Lee, the chairman of the Hong Kong Federation of Innovation Technologies and Manufacturing Industries, the former Federation of Hong Kong Machinery and Metal Industries, expressed that for last several years, the appreciation of RMB, inflation, Labor Contract Law, price increase of raw materials, process and trade policy and rise of labor cost have reduced the competitiveness of HK corporations and the sustainability of other companies in Pearl River Delta as well, and brought huge challenge for the whole industry.

Mr. Lee pointed out that in order to assist members facing the fast changing business environment, more inner-circle visit, tour activities and lectures and business consultation based on industry policy are needed to maintain the market competitiveness, get rights and benefits for this circle and co-build a favorable business platform. He also said t hat with the implementation of the new Labor Law, the employment cost increased largely, and the Federation has made a lot efforts and will keep advising the Central Government in the hope of larger buffer on law's implementation and less impact on industry.

Under the aim of uniting strength from different association and getting more social and industrial awareness, Mr. Lee expressed his expectation on cooperation among industry, government and institutes to promote the social responsibility and establishment of a harmonious society for further contribution to the economic development of China and Hong Kong.

Founded in August 1997, the Hong Kong Federation of Innovation Technologies and Manufacturing Industries comprising Hong Kong Metal Merchants Association, Hong Kong Metal Finishing Society, Hong Kong Metals Manufacturers Association, Hong Kong Plastic Machinery Association, Hong Kong Diecasting & Foundry Association (HKDFA), Hong Kong Electro-Plating Merchants Association, Hong Kong Screw & Fastener Council, Hong Kong Critical Components Manufacturers Association and Hong Kong Mould & Die Technology Association.