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education
activities is
under
overnment in coordination
Company
preparation
by the
Hong
Kong
Investment
with the Hong Kong Nuclear
VIII. PERFORMANCE OF THE ECONOMY
(a)
General Situation
42.
.ong economy, led by a strong
March
Domestic exports
1986 saw a marked upturn in the Hong
recovery in domestic exports since
grew by 15% in real terms, in the first ten months of 1986, over the same period last year,
in contrast with a decline of 5% in 1985 as a
whole. This recovery was attributable partly to improved demand for
Hong Kong's products in many of its major Overseas markets, and
partly to improved external competitiveness. caused by the depreciation of the Hong Kong dollar against most major currencies,
in line with the depreciation of the US dollar under the linked
exchange rate system For the first ten months of 1986
grew by 10% in real terms.
43.
re-exports
In
The strong recovery in domestic exports has helped to
maintain employment at a high level and to boost labour incomes
the period September
November 1986, the seasonally-adjusted
unemployment rate was 2.4% and the underemployment rate was 1.2%. Employment continued to grow particularly in the financial and other
business services sectors and in the distributive trades. Earnings in most sectors increased significantly both in money terms and
real terms
in
44.
economic conditions, private
reflected by the
as
In line with the improved
consumption demand has also firmed up,
relatively high growth rates of retained imports of consumer goods
11% and 10% respectively in real terms in the
and of foodstuffs, at
first ten months of 1986.
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