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
international consortia, two of whom include
UK content of £145
recently announced
that 3
British
and Lilley
companies (Trafalgar House 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 to the UK rose by 31% in value terms whilst our export of manufactured goods to Hong Kong rose by 23%. Clothing and textiles account
account for 35% of all of
imports from Hong Kong. This sector is Hong Kong's mo s t important and most sensitive internationally. During the period January to July 1985 UK exports rose by 16.8% to £583 million whilst during the same period
imports
Hong Kong increased by
million.
UK
from
7.6%
to £713
5. The UK has a 5.7% share of all foreign industrial
in investment
(together Hong Kong
the USA and Japan
account for 73%), but UK bank and service industries are
well represented.
6.
remain good although
Prospects for British suppliers remain good
the competitive advantage they enjoyed earlier this year has diminished with the strengthening of sterling.
CONFIDENTIAL