CONFIDENTIAL
Cammel.
Attention in Hong Kong is now focussing on the
second Harbour Tunnel Crossing, another large and
important
million.
project with a potential
The Hong Kong Goven rment
UK content of £145
recently announced
that 3
British
international consortia, two of whom include
(Trafalgar House
companies
and Lilley
Construction), have been short listed for this project.
4. The balance of trade has traditionally been in Hong Kong's favour. In 1984 United Kingdom exports accounted to £897 million whilst imports from Hong Kong totalled
£1,267 million.
During 1984 Hong Kong's exports of manufactured goods the UK rose by 31% in value terms
whilst our export of manufactured goods to Hong Kong rose
by 23%. Clothing and textiles account for 35% of all of
UK imports from Hong Kong. This sector is Hong Kong's
most important and most sensitive internationally.
During the period January to July 1985 UK exports rose by
16.8% to £583 million whilst during the s ame period
imports from Hong Kong increased by 7.6% to £713
million.
5. The UK has a 5.7% share of all foreign industrial
investment in Hong Kong (together the USA and Japan account for 73%), but UK bank and service industries are well represented.
6. Prospects for British suppliers remain good although
the competitive advantage they enjoyed earlier this year has diminished with the strengthening of sterling.
CONFIDENTIAL