XN000022-1988-11-11 — Page 7

FRIDAY, NOVEMBER 11, 1988

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TWO JAPANESE BANKS GRANTED LICENCES

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THE CHIBA BANK AND THE HOKURIKU BANK HAVE BEEN GRANTED BANKING LICENCES TO CONDUCT BUSINESS IN HONG KONG, A GOVERNMENT SPOKESMAN SAID TODAY (FRIDAY).

THE CHIBA BANK AND THE HOKURIKU BANK ARE RESPECTIVELY THE 28TH AND 29TH LARGEST BANKS IN JAPAN.

THE CHIBA BANK HAS ESTABLISHED A REPRESENTATIVE OFFICE IN HONG KONG SINCE 1985.

THE HOKURIKU BANK HAS OPERATED A REPRESENTATIVE OFFICE AND A REGISTERED DEPOSIT-TAKING COMPANY HERE SINCE 1984 AND 1986 RESPECTIVELY.

THE SPOKESMAN SAID THAT THE CONTINUING INTEREST OF FOREIGN BANKS IN OBTAINING HONG KONG BANKING LICENCES REFLECTED HONG KONG'S ROLE AS A MAJOR INTERNATIONAL FINANCIAL CENTRE.

THE GRANTING OF THESE LICENCES BRINGS THE TOTAL NUMBER OF LICENSED BANKS TO 160, OF WHICH 125 ARE INCORPORATED OUTSIDE HONG KONG. SEVEN LICENCES HAVE BEEN GRANTED SO FAR THIS YEAR.

HONG KONG'S EXTERNAL TRADE STATISTICS FOR SEPTEMBER 1988

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MILLION,

TOTAL MERCHANDISE TRADE IN SEPTEMBER 1988, AT $90,878 GREW BY 35 PER CENT IN VALUE TERMS COMPARED WITH SEPTEMBER 1987, ACCORDING TO THE DETAILED FIGURES ON VALUE OF TRADE IN SEPTEMBER 1988 RELEASED TODAY BY THE CENSUS AND STATISTICS DEPARTMENT.

59 PER CENT ΤΟ SEPTEMBER 1988 TO 34 PER CENT OVER

DOMESTIC EXPORTS INCREASED BY 12 PER CENT TO $19,950 MILLION IN SEPTEMBER 1988, WHILE RE-EXPORTS ROSE BY $26,230 MILLION, THUS BRINGING TOTAL EXPORTS IN $46, 180 MILLION, WHICH REPRESENTED AN INCREASE OF SEPTEMBER 1987.

OVER THE SAME PERIOD OF COMPARISON,

3-6 PER CENT TO $44,697 MILLION.

IMPORTS

COMPARING SEPTEMBER 1988 WITH SEPTEMBER GROWTH WAS RECORDED IN THE VALUE OF DOMESTIC (+51 PER CENT) AND THE NETHERLANDS (+35 PER CENT).

INCREASED BY

1987, SUBSTANTIAL EXPORTS то CHINA

/THE VALUE