GF 323
1
CONFIDENTIAL 聖機密
3
(7)
About 76% of the imports of China origin into Hong Kong in 1988 were subsequently re-exported (paragraph 28). Imports of China origin retained in Hong Kong declined by 12% in 1988. But this decline was
probably over-stated due to the mis-classification of
some exports in 1987 (footnotes (23) and (24)). Imports of China origin retained in Hong Kong only accounted for 14.3% of all imports retained in Hong Kong but China's ranking among Hong Kong's major sources of retained imports remained second, after
Japan (paragraph 28).
(8) The value of financial transactions between Hong Kong and China continued to grow rapidly during the fourth quarter of 1988 (paragraph 30). Despite the cutback by China in its foreign borrowing (paragraph 20), China's fund raising activities in Hong Kong were not affected (paragraph 31). By the end of 1988, the Bank of China (BOC) Group accounted for 8.1% of the total assets of all authorised financial institutions in Hong Kong (paragraph 34).
(9)
Hong Kong remained the most important source of direct foreign investment in China (paragraph 36). On the other hand, China's investment in Hong Kong continued to be buoyant and appeared to be relatively unaffected by the house-cleaning campaign (paragraph
38).
(10) Although the retail prices of goods from China
increased at slightly faster rate than those of other consumer goods, the rate of increase was still well below the inflation rate in China (paragraph 42). Also there was a significant slow-down in the year-on-year rate of increase in the retail prices of goods from China in December 1988 compared with November.
CONFIDENTIAL
機密