09-OCT-1991 16:56
SECRETARIAT D.A.U.
+852 845 7895
P.11
Hong Kong.
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41.
Our domestic
exports in the first seven months of
this year increased by 2% in real terms. This compares
with
last year.
Other indicators of
of 3% for the
same period
up 26%.
decline a
Re-exports have boomed
economic activity are also moving in the right direction.
Local and overseas investment in plant and equipment has
picked up sharply. In the first seven months of this year,
such investment was 18% higher than in the same period a
year ago. We have already been able to revise upwards our
earlier forecast of economic growth. We now expect growth
this year to be about 4%.
42.
our
Hong Kong's economic success is tied closely to
traditional role as the gateway to southern China. Our
trade with China continues to expand at great speed. It
grew by 15% in 1990. In the first seven months of 1991,
growth was an astonishing 27%. As a result, intensive
business and
Kong and the
investment relations are growing between Hong
fast-developing economy of southern China.
Chief executive officers of international companies who are
planning expansion in Asia would do well to think of this,
/and