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(10)
(11)
(12)
nationwide
growth
rates. Guangdong's inflation rate
in 1992, at 5.8%, was nevertheless only slightly
higher than that for the country as a whole. This demonstrated the remarkable ability of the province in
adapting to the pressure of economic growth on its
resources (paragraph 17). The values of pledged and
realised foreign direct investment in Guangdong reached US$20 billion and US$5 billion respectively in
1992, 242% and 88% higher than in 1991 (paragraph 18).
On
Hong
Kong
-
China economic relations, China and
Hong Kong remained each other's largest trading
partner in 1992. Total visible trade between the two economies rose by 25% in value terms to HK$628 billion
in 1992.
This represented 33% of Hong Kong's total
external trade in the year (paragraph 22).
Reflecting the buoyant domestic demand in China as
well as the continued growth in outward processing
activities, Hong Kong's domestic exports and
re-exports to China grew by 14% and 38% respectively (paragraph 23). While Hong Kong's re-exports
of China origin continued to grow rapidly, by 28% in
1992, its retained imports of China origin recorded a
large decline, by 38% (paragraphs 26 and 27).
in 1992
-
Hong Kong's investment in China continued to grow.
Apart from the continued relocation of industrial
activities, there was a new trend in that some Hong
Kong companies were relocating part of their support
services to China, also to take advantage of the lower
labour and land costs there.
But the scope for
service activity relocation was at present only
limited. The mainstream was still in industrial
activity
(paragraphs 31 and 32).
Meanwhile, China-interest enterprises continued to
show a keen interest in raising funds from Hong Kong's
financial sector (paragraphs 35 to 37).
relocation
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