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"We will bring forward legislative amendments to increase the penalties for infringement of copyright, and provide additional resources to the Customs and Excise Department to combat infringement activity."
Note to editors:
Further enquiries can be directed to Mr Stanley Ying, Assistant Director- General of Trade, on telephone 2398 5308.
End/Thursday, February 9, 1995
Gross Domestic Product for third quarter of 1994
Hong Kong's Gross Domestic Product (GDP) in the third quarter of 1994 grew by 5.5% in real terms over the same quarter in 1993, according to the preliminary estimates released by the Census and Statistics Department today (Thursday). Among the main components of the GDP estimates, Private Consumption Expenditure grew by 5.7% in real terms in the third quarter of 1994 over the same quarter in 1993.
Over the same period, Government Consumption Expenditure (defined in national accounts terms) increased by 3.5% in real terms.
Gross Domestic Fixed Capital Formation continued to grow significantly by 11.8% in real terms in the third quarter of 1994 over the same quarter in 1993.
Within this component, expenditure on construction showed a significant increase of 17.0%, while expenditure on machinery and equipment also recorded a substantial growth of 14.7%.
Regarding external trade in goods, total exports grew by 10.8% in real terms in the third quarter of 1994 over a year earlier.
Within these, re-exports continued to provide the main impetus to growth, and registered a year-on-year growth rate of 13.8% in real terms.
Domestic exports recorded a marginal decrease of 0.3% in real terms, showing clear signs of bottoming out from the earlier declines.