XN000022-1985-08-02 — Page 6

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FRIDAY, AUGUST 2, 1985

IT IS UNDERSTOOD THAT THE 12 CATEGORIES ARE TRAVEL GOODS OF MATERIALS OTHER THAN ARTIFICIAL PLASTIC SHEETING PROTECTIVE GLOVES, OF LEATHER OR LEATHER COMPOSITION FOR ALL TRADES; RUBBER FOOTWEAR FOOTWEAR WITH OUTER SOLES OF LEATHER OR COMPOSITION LEATHER; IMITATION JEWELLERY: PORTABLE ELECTRIC BATTERY AND MAGNETIC LAMPS OTHER THAN MINERS' SAFETY LAMPS ; COLOUR TVS; DIODES, TRANSISTORS; QUARTZ WATCHES; DOLLS) OTHER TOYS; EQUIPMENT FOR PARLOUR, TABLE AND FUNFAIR GAMES.

MR WONG SAID THAT 1984 EXPORTS OF THESE 12 CATEGORIES TO THE EEC WERE WORTH $4 597 MILLION - OUT OF TOTAL EXPORTS TO THE EEC OF $27 366 MILLION. THEREFORE THEY REPRESENTED ABOUT 16.8 PER CENT OF THE TOTAL. HOWEVER, THE 1984 EEC GSP QUOTA FOR THE 12 AMOUNTED TO ONLY $238 MILLION - OR ABOUT 5.2 PER CENT OF THE TOTAL $4 597 MILLION VALUE.

JUNE MONETARY STATISTICS RELEASED

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REFLECTING A CONTINUING INFLOW OF FUNDS, BOTH HONG KONG DOLLAR AND FOREIGN CURRENCY DEPOSITS INCREASED FURTHER IN JUNE, ACCORDING TO MONETARY STATISTICS PUBLISHED TODAY (FRIDAY).

THE INCREASE IN FOREIGN CURRENCY DEPOSITS REMAINED MORE RAPID, LARGELY REFLECTING A CONTINUING SWITCH BY DEPOSITORS FROM HONG KONG DOLLARS TO U.S. DOLLARS TO TAKE ADVANTAGE OF HIGHER INTEREST RATES FOR THE U.S. DOLLAR AND THE STRENGTH OF THE HONG KONG DOLLAR.

MONEY SUPPLY ON ALL DEFINITIONS CONTINUED TO INCREASE. HONG KONG DOLLAR MONEY SUPPLY RECORDED SLOWER GROWTH COMPARED WITH TOTAL MONEY SUPPLY.

LOAN DEMAND REMAINED WEAK IN JUNE. LOANS TO FINANCE VISIBLE TRADE OF HONG KONG FELL FURTHER BUT OTHER LOANS FOR USE IN HONG KONG CONTINUED TO INCREASE.

TABLE 1 SETS OUT SUMMARY FIGURES FOR JUNE 1985 AND COMPARISONS WITH EARLIER MONTHS. TABLE 2 SETS OUT FIGURES FROM THE QUARTERLY ANALYSIS OF LOANS AND ADVANCES FOR USE IN HONG KONG BY SECTOR.

/DEPOSITS