Announcement of
Printing Products Price Adjustment
20 March 2007
Over the last few years, the price of printing materials has risen continuously and the increase of the minimum wage in Mainland China has accumulated to more than 50%. Furthermore, the RMB exchange rate has gone up by almost 5% over the past six months. In the near future, it is expected that the above-mentioned factors may even go up again.
The pressure on the printing costs carried by the industry is very great. The printing industry suffers badly from this and barely survives with marginal profits. Some printers have had to close down their operations due to the failure of keeping the business going.
After discussions, The Hong Kong Printers Association announces that the price of all printing products should reflect the actual market situation and therefore increase by 12% with effect from 1 April 2007.
