XN000022-1986-04-16 — Page 23

WEDNESDAY, APRIL 16, 1986

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IN CONCLUSION, SIR JOHN EXPRESSED HIS APPRECIATION OF THE WISE COUNSEL HE RECEIVED FROM THE HONG KONG ASSOCIATION OF BANKS.

+YOUR STATUTORY ASSOCIATION SERVES AS A USEFUL AND PRODUCTIVE CHANNEL FOR DIALOGUE BETWEEN THE BANKING INDUSTRY AND THE GOVERNMENT,

+ IT IS AN INDISPENSIBLE ARM IN THE CONDUCT OF OUR MONETARY POLICY, THROUGH REGULAR AND FRANK CONSULTATION WITH THE ADMINISTRATION, AND THROUGH ITS ADMINISTRATION OF THE INTEREST RATES RULES,+ HE SAID.

HK LEADS WORLD IN TWO EXPORT CATEGORIES

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HONG KONG WAS THE LARGEST EXPORTER OF CLOTHING, TOYS AND GAMES, IN THE WORLD IN 1984.

HONG KONG WAS ALSO THE SECOND LARGEST EXPORTER OF FANS DOMESTIC TYPE (AFTER TAIWAN) AND THE THIRD LARGEST EXPORTER FOR BOTH COMPLÈTE WATCHES (AFTER SWITZERLAND AND JAPAN) AND RAD 10-BROADCAST RECEIVERS (AFTER JAPAN AND TAIWAN).

FOR EXPORTS OF TRAVEL GOODS AND HANDBAGS, HONG KONG WAS RANKED FOURTH (AFTER TAIWAN, ITALY AND THE REPUBLIC OF KOREA).

DETAILS OF THESE ARE CONTAINED IN THE HONG KONG REVIEW OF OVERSEAS TRADE IN 1985' ON SALE AT THE GOVERNMENT PUBLICATIONS CENTRE AT $21 PER COPY.

THE REVIEW CONTAINS A BRIEF TEXT ON HONG KONG'S EXTERNAL TRADE PERFORMANCE IN 1985, 13 GRAPHS AND 38 STATISTICAL TABLES WITH COMPARATIVE FIGURES FOR PREVIOUS YEARS,

THE REVIEW PRESENTS A BRIEF ACCOUNT OF THE SIGNIFICANT CHANGES IN THE DIRECTION AND COMPOSITION OF HONG KONG'S EXTERNAL TRADE IN 1985, INCLUDING A COMPREHENSIVE ANALYSIS OF TRADE BY MAJOR TRADING PARTNERS BY COMMODITY CATEGORIES, AND STATISTICS ON HONG KONG'S EXPORT PERFORMANCE IN WORLD TRADE AND IN PRINCIPAL OVERSEAS MARKETS, COMPARED WITH THOSE OF MAJOR COMPETITORS ARE INCLUDED IN THE PUBLICATION.

ALSO INCLUDED ARE STATISTICS ON EXCHANGE RATES OF PRINCIPAL FOREIGN CURRENCIES AND THE EFFECTIVE (TRADE-WEIGHTED) EXCHANGE RATE INDEX FOR THE HONG KONG DOLLAR.

ACCORDING TO THE REVIEW, SUBSTANTIAL INCREASES WERE NOTED DURING 1985 IN THE VALUE OF IMPORTS FROM TAIWAN (BY HK$3 551 MILLION OR 20 PER CENT) AND CHINA (BY $3 210 MILLION OR 6 PER CENT), WHILE DECREASES WERE RECORDED IN IMPORTS FROM THE UNITED STATES (BY $2 481 MILLION OR 10 PER CENT) AND SINGAPORE (BY $948 MILLION OR 8 PER CENT).

/OVERSEAS MARKETS