·
SJAALB
CONFIDENTIAL
Ves
Lu
ANNOUNCEMENT OF NEW GOVERNOR: PRESS CONFERENCE, 16 JANUARY 1987
"BULL POINTS'
ECONOMY
1 SAB8211
다 ze- cro 201
Domestic Exports rose by 13% in real terms in first nine months of
1986 over same period 1985. [Imports increased by 18%.]
Inflation was 3.9% in twelve months to end November 1986.
L
lley
GDP growth forecast at 6% 1986 over 1985
Unemployment 2.9%.
Capital Investment
Best available measure (imports of capital goods and retained
imports of plant and machinery) rose by 23% in real terms in first
nine months of 1986 over same period 1985.
288 overseas companies established a place of business in Hong Kong
in 1986, 25% up on 1985. Total number of overseas companies with
place of business in Hong Kong now 2,238. Total foreign investment
in HK manufacturing industry at end 85 (latest available)
HK$11.8 billion. 53% from US, 21% from Japan, about 7% from UK.
Budget
1982/83 deficit $3.5 billion.
1983/84
deficit $3 billion.
1984/85
—
deficit $1.5 billion.
1985/86
surplus $1.4 million.
1986/87
Banking
forecast surplus $348 million (conservative estimate).
Eleven additional foreign banks granted licences to set up branches
in Hong Kong in 1986. 75% of the top 100 banks in the world are now
established in HK.
CONFIDENTIAL