r
2
FRIDAY, NOVEMBER 6, 1992
RANGE SAID,
BEING THE LARGEST SERVICE-PROVIDER IN HONG KONG IN TERMS OF THE OF ITS PRODUCTS AND THE SIZE OF ITS CLIENTELE, MR WIGGHAM THE CIVIL SERVICE HAS BEEN SENSITIVE TO THE NEEDS OF THE COMMUNITY, AND HAS BEEN PRO-ACTIVE IN MEETING THOSE NEEDS.
HE EXPLAINED THAT THIS MAY IN PART DUE TO THE UNIQUE GOVERNMENT SYSTEM IN HONG KONG,
MR WIGGHAM SAID: "UNLIKE MANY PLACES, WHERE GOVERNMENT POLICIES ARE MADE BY POLITICIANS, OUR CIVIL SERVICE HAS A DUAL ACCOUNTABILITY, BOTH THAT OF THE SERVICE-PROVIDER, AND THAT OF THE POLICY FORMULATOR.
"THE CIVIL SERVICE'S CREDIBILITY, AND THE EXTENT OF ITS SUPPORT IN THE COMMUNITY, DEPENDS ON ITS ABILITY TO SATISFY ITS CUSTOMERS.
"THIS AWARENESS WAS SPURRED US ON, AND I'D LIKE TO THINK THAT IN THE PROCESS, THE CIVIL SERVICE HAS BECOME AN IMPORTANT FACTOR IN THE SUCCESS STORY OF HONG KONG, HE ADDED.
0
·
GROSS DOMESTIC PRODUCT FOR SECOND QUARTER
HONG KONG'S GROSS DOMESTIC PRODUCT (GDP) GREW IN THE SECOND QUARTER OF THIS YEAR BY 4.7% IN REAL TERMS OVER THE SAME QUARTER OF LAST YEAR, ACCORDING TO THE PRELIMINARY ESTIMATES RELEASED TODAY (FRIDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.
AMONG THE MAIN DOMESTIC COMPONENTS OF THE ODP ESTIMATES, GROSS DOMESTIC FIXED CAPITAL FORMATION GREW SIGNIFICANTLY BY 10.9% IN REAL TERMS IN THE SECOND QUARTER OF 1992 OVER THE SECOND QUARTER OF 1991.
AND
WITHIN THIS COMPONENT, INVESTMENT EXPENDITURE ON MACHINERY EQUIPMENT, IN PARTICULAR, SHOWED A REMARKABLE INCREASE OF 22.6%.
TERMS
FOR
ON THE SAME BASIS OF COMPARISON, THE GROWTH RATE IN REAL FOR PRIVATE CONSUMPTION EXPENDITURE WAS 8.0%, WHILE THAT GOVERNMENT CONSUMPTION EXPENDITURE WAS 11.8%.
REAL
AND
REGARDING EXTERNAL TRADE IN GOODS, THE GROWTH RATE IN TERMS IN THE SECOND QUARTER OF 1992 WAS 3.0% FOR DOMESTIC EXPORTS 30.4% FOR RE-EXPORTS. THE CORRESPONDING GROWTH RATE FOR IMPORTS OF GOODS WAS 23.9%.
AS
WAS 16.7%. 10.3%.
REGARDS EXPORTS OF SERVICES, THE GROWTH RATE IN REAL TERMS THE CORRESPONDING GROWTH RATE FOR IMPORTS OF SERVICES WAS
THE IMPLICIT PRICE DEFLATOR OF GDP, AS A BROAD MEASURE OF OVERALL INFLATION IN THE ECONOMY, ROSE BY 10.7% IN THE SECOND QUARTER OF 1992 OVER A YEAR EARLIER, FOLLOWING AN INCREASE OF 12.4% IN THE FIRST QUARTER.
/THE GROWTH