THURSDAY, AUGUST 25, 1983
A QUALITATIVE ASSESSMENT BASED ON FACTORY VISITS AND CONTACTS WITH LOCAL INDUSTRIALISTS ALSO INDICATES GREATER OPTIMISM AMONG MANUFACTURERS ABOUT EXPORT PROSPECTS IN THE COMING MONTHS.
THE GENERAL IMPRESSION IS THAT TEXTILES AND CLOTHING AND ELECTRONIC INDUSTRIES ARE SHOWING THE FASTEST RECOVERY, FOLLOWED BY FOOD AND BEVERAGES, PLASTICS, METAL FABRICATION, WATCHES AND CLOCKS, AND TOYS.
SOME MANUFACTURERS OF PLASTIC PRODUCTS, ELECTRONIC PRODUCTS AND ELECTRICAL APPLIANCES HAVE, HOWEVER, REPORTED DIFFICULTIES IN OBTAINING RAW MATERIALS AND COMPONENT PARTS.
ON THE PROPERTY SECTOR, THE REPORT POINTS OUT THAT THE VACANCY POSITION FOR MOST TYPES OF PROPERTY WAS HIGH IN RELATION TO THE EXISTING STOCK.
AS DEMAND FOR PROPERTY REMAINED DEPRESSED (EXCEPT FOR SMALL FLATS IN CONVENIENT LOCATIONS), PRICES AND RENTALS OF FINISHED PROPERTY GENERALLY EASED FURTHER IN THE FIRST HALF OF 1983.
REFLECTING THE EFFECT OF THIS ON THE BUILDING INTENTIONS OF PRIVATE DEVELOPERS, THE NUMBER OF BUILDING PLANS WITH CONSENT TO COMMENCE WORK IN THE FIRST HALF OF THIS YEAR WAS SUBSTANTIALLY LOWER THAN IN THE SAME PERIOD LAST YEAR.
ON PRICES, THE REPORT COMMENTS THAT DESPITE THE DEPRECIATION OF THE HONG KONG DOLLAR SINCE THE END OF 1982, THE RATE OF INFLATION INCREASED ONLY MODERATELY IN THE FIRST HALF OF THIS YEAR.
IT ATTRIBUTES THIS TO SEVERAL RATHER FAVOURABLE FACTORS, SUCH AS THE RELATIVELY WEAK DOMESTIC DEMAND, THE SLOWING DOWN IN THE GROWTH RATE OF THE MONEY SUPPLY, THE MODERATE RATE OF INCREASE IN WORLD COMMODITY PRICES AND THE EASING OF THE RATE OF INFLATION IN HONG KONG'S MAJOR TRADING PARTNERS.
THE HALF-YEARLY ECONOMIC REPORT 1983 IS NOW ON SALE AT $12
A COPY.
HK RESISTING AMERICAN GSP EXCLUSION MOVES
****
HONG KONG WAS RESISTING MOVES WHICH COULD RESULT IN THE TERRITORY BEING EXCLUDED FROM THE UNITED STATES' GENERALISED SYSTEM OF PREFERENCES (GSP), THE DEPUTY DIRECTOR OF TRADE, MR JOHN CHAN, SAID TODAY (THURSDAY).
THE US GSP HAD BROUGHT CONSIDERABLE BENEFITS TO HONG KONG, HE TOLD A DINNER MEETING OF THE LIONS CLUB OF KWUN TONG.
MR CHAN SAID THAT ABOUT 15 PER CENT OF HONG KONG'S TOTAL EXPORTS TO THE U.S. BENEFITED FROM THE GSP.
/+OF COURSE
No comments yet.
Private notes are available after approval.