CONFIDENTIAL
Keterence
Table 4: UK Hong Kong Net Invisibles, 1975-77
-
(thousands)
£
1975
1976
1977
Private
Private Transfers
33,000
12,600
19,900
Private Services
Sea Transport (1974)
-5,600
-5,600
-5,600
Civil Aviation
5,900
6,500
7,700
Travel
3,800
5,700
7,900
Other Services
22,000
34,700
47,200
Private Interest Profits &
Dividends
50,700
46,400
78,900
Private Sector Surplus
109,800
100,300
156,000
Official Transactions
Government Services &
Transfers
-47,000 -33,700 -40,400
Interest on Hong Kong
Official Reserves
Official Deficit
-27,000 -20,000 -14,800
-74,000 -53,700 -55,200
Balance on Invisibles
Source: CSO
35,800 46,600 101,800 ?
100,800
Hong Kong as an Intermediary in Trade Between the UK and China
8. From the little information that is available on this aspect of the relationship it would appear that a fairly small proportion of UK trade with China is via Hong Kong. Figures from the Hong Kong Trade Statistics show that in 1978 and 1979, the value of UK exports to China passing through Hong Kong was £405,000 and £4.2 million respectively. This may be compared to total UK exports to China of £91 million and £213 million in both years.
Less information is available regarding the value of UK imports from China via Hong Kong, and the UK is not among those countries listed in the Hong Kong Trade Statistics as the main importer of Chinese re-exports. One estimate for 1975 was that re-exports to the UK from Hong Kong amounted to £10 million, compared to total UK imports from China of £59.3 million
ODE 18-77
SS 8/78
Investment in Hong Kong
defined as suvertinent that obes
Sin
9. Data is limited. None exists for portfolio investment nor for the value of direct Hong Kong investment in the UK. Some figures are available showing the value of UK direct investment in Hong Kong, defined as the ownership of branches, subsidiaries or associated companies by UK companies and partnerships in Hong Kong.
CONFIDENTIAL
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