WEDNESDAY, MAY 30, 1984
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+FOLLOWING THE OPENING UP OF CHINA'S MARKET, HONG KONG'S TRADITIONAL ROLE AS AN ENTREPOT HAS REVIVED STRONGLY. IN 1983, HONG KONG'S TOTAL RE-EXPORTS WERE VALUED AT HK$56 294 MILLION (US$7 740 MILLION), REPRESENTING AN INCREASE OF 181 PER CENT OVER A FIVE-YEAR PERIOD. CHINA WAS THE LARGEST RE-EXPORT MARKET, TAKING UP 22 PER CENT OF THE TOTAL RE-EXPORTS, WHILE THE FAR EAST AS A WHOLE (INCLUDING CHINA) TOOK 63 PER CENT, MR HO SAID.
HONG KONG'S TOTAL TRADE DURING THE FIRST QUARTER OF THIS YEAR, AT HK$94.6 BILLION (US$12.1 BILLION), WAS 48 PER CENT UP ON LAST YEAR'S CORRESPONDING QUARTER. IMPORTS ROSE BY 43 PER CENT, DOMESTIC EXPORTS BY 51 PER CENT AND RE-EXPORTS BY 59 PER CENT.
ON THE MANUFACTURING FRONT, MR HO SAID THAT DESPITE PRESENT UNCERTAINTIES, IT WAS VERY MUCH BUSINESS AS USUAL IN HONG KONG.
THE ESTIMATED GDP IN 1983 INDICATES A GROWTH RATE OF 5.9 PER CENT IN REAL TERMS OVER 1982, COMPARED WITH 1.1 PER CENT IN 1982 OVER 1981. THE VALUE OF DOMESTIC EXPORTS IN 1983 WAS 26 PER CENT HIGHER THAN IN 1982, AND THE INCREASE IN REAL TERMS WAS 14 PER CENT.
+ HONG KONG MANUFACTURERS ARE CONTINUING TO INVEST, PARTLY TO MEET THE CURRENT UPSURGE IN ORDERS, THOUGH WITH PERHAPS A LITTLE MORE CAUTION THAN PREVIOUSLY.
*RETAINED IMPORTS OF CAPITAL GOODS, WHICH HAD BEEN GENERALLY ON A DÉCLINING TREND SINCE THE FOURTH QUARTER OF 1981, INCREASED BY FIVE PER CENT IN REAL TERMS IN THE FOURTH QUARTER OF 1983: LARGELY DUE TO AN INCREASE IN RETAINED IMPORTS OF TEXTILES AND
ELECTRICAL MACHINERY, MR HO SAID.
MORE ELECTED MEMBERS IN SOUTHERN DISTRICT
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THE NUMBER OF ELECTED MEMBERS OF SOUTHERN DISTRICT BOARD WILL BE INCREASED FROM SIX TO 11 AFTER NEXT YEAR'S DISTRICT BOARD ELECTION, THE DISTRICT OFFICER, MR K.C. KWONG, SAID TODAY (WEDNESDAY).
+EACH CONSTITUENCY WILL HAVE TWO ELECTED MEMBERS, EXCEPT FOR STANLEY AND SHEK O, WHICH WILL HAVE ONE, HE SAID.
THE INCREASE IN ELECTED SEATS IS IN LINE WITH THE RECENT DECISION MADE BY THE GOVERNMENT TO FURTHER DEVELOP LOCAL ADMINISTRATION.
+ IT IS IMPORTANT TO STRENGTHEN THE REPRESENTATIVENESS OF THE BOARD SO THAT MORE PUBLIC OPINION WILL BE REFLECTED AND THAT COMMUNICATION BETWEEN RESIDENTS AND THE GOVERNMENT WILL BE ENHANCED+, HE SAID.
/MR KWONG