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D. HONG KONG ECONOMY
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Economy performing exceptionally well.
Estimated growth in GDP
in 1987 of about 12%; 11% in 1986.
Re-exports
Domestic exports increased in real terms by 16% in 1986 and by
27% in the first half of 1987 over same period in 1986.
up 14% and 49% in same period.
Annual inflation rate expected to rise from 5.4% to around 6% by end of financial year.
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Too early to estimate effect of fall in stock market prices on Hong Kong but growth in 1988 unlikely to be as high as in 1986 and
1987.
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Property prices remain strong.
Impressive number of major public projects underway or planned
eg a third university, a light rail system in Tuen Mun and Yuen
Long, two new container terminals, two 1600 bed hospitals, major
reclamation in Hung Hom and Aldrich Bay, and a road tunnel link
between Tsuen Wan and Sha Tin.
Private sector is constructing a second tunnel under the harbour
and six consortia are competing for the right to construct a second
road tunnel linking Kowloon and the New Territories.
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