While still below the expansionary 50 benchmark, the new quarterly index shows signs of stronger procurement activity in the electronics, toys and equipment/materials sectors, with economic headwinds cited as the largest risk.
The mobile payments have expanded rapidly in the SAR, led by Chinese tech firms. Payment providers expect more use cases to be explored, as well as integration with traditional payment methods such as credit cards.
The HK payment provider has created a JV with the Chinese finance leasing player to provide much needed commercial credit management services, just as the SAR's economy is looking up.
The consultancy wants the government to use tax and R&D incentives to bolster the SAR's status for multinationals in next week's budget, as Singapore leads the way in Asia.