TRADE AND INDUSTRY
Chart 2: Value of Domestic Exports of the Manufacturing Sector in 1999
Others
18.9% ($32.227 billion)
Clothing 43.5% ($74.251 billion)
Watches and Clocks
3.0% ($5.040 billion)
Jewellery
3.0% ($5.042 billion) Chemicals
3.3% ($5.655 billion)
Textiles 5.6% ($9.488 billion)
Electronics 22.8% ($38.896 billion)
closely with seven overseas Investment Promotion Units in North America, Europe, Japan and Australia. Together, they provide advice and assistance to potential overseas investors in developing and implementing their investment plans in Hong Kong.
A Census and Statistics Department survey shows that Hong Kong had 9 050 enterprise groups with inward direct investment at the end of 1998, comprising 697 for the manufacturing sector and 8 353 for the non-manufacturing sectors. The position of inward direct investment at market price amounted to $1,744 billion. Chart 3 shows the economic activity of the enterprise groups whilst Chart 4 shows source countries/territories of the inward direct investment. Regarding the employment situation, some 90 per cent of them are enterprise groups employing fewer than 100 persons (Chart 5).
Another Industry Department survey identified 2 490 overseas companies which had established regional headquarters or regional offices in Hong Kong by June 1, 1999. To provide additional assurance to overseas investors, Hong Kong has concluded bilateral investment promotion and protection agreements with 14 of its major investment partners: Australia, Austria, Belgium/Luxembourg, Denmark, France, Germany, Italy, Japan, Korea, the Netherlands, New Zealand, Sweden, Switzerland and the United Kingdom.
Documentation of Imports and Exports
As a free port, the HKSAR has minimal import and export licensing requirements. Most products do not need licences to enter or leave Hong Kong. Where licences or notifications are required, they are intended to achieve two main objectives. First, they help the HKSAR fulfil its international obligations, as in the case of exports of textiles products which are under quantitative restrictions imposed by the importing countries. The licensing requirement also helps the HKSAR to monitor the flow of
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