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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,
About 90% of its including food and consumer goods.
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.
Although
Government expenditio
accounts for 20% of total Hong Kong has a free market economy. The Government
2.
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
Indeed it
in respect of Hong Kong, Hong Kong is allowed considerable
latitude in external trade policy matters. informally leads the group of major textile and clothing
GDP,
SECRET
/exporting