A mood of cautious optimism prevails

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Saturday, April 17, 2010

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The turnaround from recession to recovery is perhaps cause for celebration, but Hong Kong businesses hit hard by the downturn know better than to get too carried away by the first signs of revival. They can see there is still a long climb ahead to recapture the good times and confidence of late 2007, and realise it will involve more corporate reorganisation and restructuring.

In the short term there are many reasons to be positive. Every major sector is now talking optimistically about prospects for the rest of the year and planning for expansion, better revenues, and the creation of new jobs.

Indeed, the SCMP/admanGo report, which tracks job vacancies advertised in the seven recruitment publications in Hong Kong, already reflects a solid increase in hiring. It shows 33,430 positions on offer in the first quarter, marking a 22.8 per cent increase