FRIDAY, JULY 3, 1992
MANY ECONOMIC ANALYSTS AND COMMENTATORS, BOTH LOCALLY AND ELSEWHERE, HAVE SUGGESTED THAT BOTH GDP AND GNP FIGURES SHOULD BE COMPILED ΤΟ FACILITATE A. MULTI-FACET ASSESSMENT OF HONG KONG S ECONOMIC ACTIVITIES.
ALTHOUGH THE TWO STATISTICAL AGGREGATE MEASURES OF PRODUCTION DIFFER IN CONCEPT AND POSSIBLY ALSO IN USE, THEY ARE CLOSELY RELATED.
IN SIMPLE TERMS, HONG KONG'S GNP IS EQUAL TO HONG KONG'S GDP EXCLUDING INCOME EARNED BY NON-RESIDENTS IN HONG KONG, BUT INCLUDING INCOME EARNED BY HONG KONG RESIDENTS FROM ABROAD,
THE SPOKESMAN STRESSED THAT THE COLLECTION OF SUCH DATA WAS PURELY FOR STATISTICAL INFORMATION AND ECONOMIC ANALYSIS.
HE SAID HONG KONG'S LONG-STANDING POLICY OF FREE FLOW OF FUNDS INTO AND OUT OF THE TERRITORY WAS UNAFFECTED BY ANY STATISTICAL EXERCISE.
FURTHERMORE, INFORMATION PROVIDED BY INDIVIDUAL PERSONS AND COMPANIES WILL BE KEPT IN STRICT CONFIDENCE, HE ADDED.
THE FULL FEASIBILITY STUDY, FOR WHICH RESOURCES ARE BEING SOUGHT, WILL TAKE ABOUT A YEAR TO COMPLETE.
PENDING THE FULL STUDY, SOME PRELIMINARY STUDIES AND CONSULTATIONS WILL START SOON.
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EARLY CONCLUSION OF URUGUAY ROUND TALKS EXPECTED
THE DIRECTOR-GENERAL OF TRADE,
MR DONALD TSANG, SAID TODAY AND SUCCESSFUL CONCLUSION OF THE URUGUAY ROUND (UR) OF MULTILATERAL TRADE NEGOTIATIONS.
(FRIDAY) HE ANTICIPATED AN EARLY
SPEAKING AT THE OPENING CEREMONY OF THE HONG KONG INTERNATIONAL TRADE FAIR AT THE HONG KONG CONVENTION AND EXHIBITION CENTRE, MR TSANG SAID HE UNDERSTOOD THE CLOTHING SECTOR WAS WHERE LOCAL TRADERS WERE FACING THE MOST RESTRICTIONS IN THE OVERSEAS MARKETS.
"LIBERALISATION IN THIS AREA IS CURRENTLY BEING ADDRESSED IN THE UR NEGOTIATIONS.
"THOUGH THERE IS LITTLE MOVEMENT AT THIS STAGE, I LOOK FORWARD TO AN EARLY AND SUCCESSFUL CONCLUSION OF THESE NEGOTIATIONS. WHICH WILL FURTHER PROMOTE INTERNATIONAL TRADE, AND BENEFIT EXPORTERS AND CONSUMERS ALIKE. HE SAID.
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PRODUCTS DISPLAYED AT THE TRADE FAIR INCLUDE FASHION JEWELLERY AND ACCESSORIES, APPAREL, STATIONERY AND PREMIUM AS WELL AS SPORTING GOODS.
/MR TSANG
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