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Under the EC Generalised System of Preferences (GSP) Scheme
all non-associated developing countries benefit from reduced
tariffs (in many cases zero) on their exports to the Community of
all industrial and some agricultural products. Use of the scheme
by Hong Kong (but not China) is subject to special restrictions
reflecting the territory's relatively high level of development
and competitiveness.
Other developed countries operate similar
schemes, though on terms less generous than the EC's. All concessions
under GSP schemes are autonomous and the terms can be varied at any
time within the limits imposed by other international obligations
(eg GATT obligations).
Trade, Industry and Customs Departments
Secretary for Trade and Industry and Commissioner for Customs.
Responsibilities include conduct of overseas commercial relations,
industrial development and promotion, trade controls, collection
of duty, etc. Overseas trade policy representatives in Brussels,
export promotion Geneva, Washington and London and a further 20 overseas offices of
verseas offic
the HK Trade Development Council.
Corporation's liabilities are guaranteed by Hong Kong Government.
HK Export Credit Insurance
Chambers of Commerce: These include HK General Chamber of Commerce
and the Chinese General Chamber of Commerce.
HK Trade with UK and China
HK became UK's biggest export market in Asia in 1981 with UK exports
approx. £600 million (4.5% of HK imports and 1% of UK exports). But
visible trade balance in HK's favour: £200 million in 1981. £4.8 mil-
lion worth of UK exports to China via HK in 1980.
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