HONG KONG STUDY
ANNEX M
EXTERNAL TRADE
SECRET
Present Situation
1.
Hong
Hong Kong is a major commercial centre within Asia
and the world's seventh largest port. It has a free
trade policy, and a sophisticated infrastructure.
Kong is almost entirely dependent on imported resources,
including food and consumer goods. About 90% of its
manufacturing output is exported, and domestic exports
are equivalent to 60% of the Gross Domestic Product (GDP).
The total value of visible trading transactions is twice
the value of the GDP, and much more than this if invisible
imports and exports are included.
2.
Hong Kong has a free market economy. The Government
sees its role not as planning the economy but as
providing a suitably stable framework with minimum
interference.
3.
Although HMG have responsibility for external affairs
in respect of Hong Kong, Hong Kong is allowed considerable
latitude in external trade policy matters. Indeed it
informally leads the group of major textile and clothing
SECRET
/exporting