CEM (68) 39
DRAFT! Sopt 1968 HER MAJESTY'S TREASURY.
62
COMMONWEALTH ECONOMIC CONSULTATIVE COUNCIL
MEETING OF FINANCE MINISTERS 1968 (small letters)
HONG KONG
Note by Commonwealth Office
Political
Since the beginning of 1968 communist confrontation in Hong
Kong has taken on a new form. It has virtually eschewed the
violence of last year's disturbances and has developed into a
long term struggle for the hearts and minds of the people of the
Colony. As part of this struggle the communists maintain a
continuous campaign of anti-British propaganda and criticism of
the Hong Kong Government whose authority they unceasingly seek to
undermine. Hong Kong has so far successfully withstood all the
efforts of the communists to gain their ends but the Colony will
continue to need encouragement and support in maintaining its
position against these persistent attacks.
Trade
Economic
2. Generally, throughout 1967 there was continued economic
in 1967 growth. The value of Hong Kong's external trade (the most
Hàng tháng
important indication of the level of economic activity) was
ズ
maintained at a high level despite the internal disturbances. witt 19060
Compared Domestic exports increased by 17% (over 1966-figures), while
re-exports went up by 14%. Imports showed only a slight increase
compared with previous years, partly because imports from China,
Hong Kong's principal supplier, dropped by 18%. This appears to
have been due not so much to events in Hong Kong as to unsettled
conditions in China which had led to a general disruption of
communications.
SIX
The trade pattern of 1967 has continued during
down on the
the first five months of 1968 with imports from China continuing Same period last year
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to decline and China's position as Hong Kong's principal supplier
atpresent being threatened by Japan.
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/ U.K. direct
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