XN000022-1993-05-20 — Page 12

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THURSDAY, MAY 20, 1993

IN

"U.S. EXPORTS TO CHINA WERE VALUED AT ABOUT US$7.5 BILLION 1992. EVERY US$1 BILLION WORTH OF EXPORTS CREATE APPROXIMATELY 20,000 JOBS. THE LOSS OF EXPORTS TO CHINA CONSEQUENT ON MEN REVOCATION COULD PUT UP TO 150,000 AMERICAN JOBS AT RISK," HE SAID.

ON THE FUTURE OF HONG KONG, MR CHAU SAID THE MUTUAL BENEFIT WHICH HONG KONG AND CHINA DERIVED FROM EACH OTHER PROVIDED A STRONG GUARANTEE OF HONG KONG S FUTURE AS A HIGHLY AUTONOMOUS SPECIAL ADMINISTRATIVE REGION OF CHINA.

"I BELIEVE THAT HONG KONG, BY REMAINING TRADING PARTNER AND A SEPARATE ECONOMIC ENTITY, VATALITY AND DYNAMISM.

AS AN AUTONOMOUS

WILL RETAIN ITS

"CONSEQUENTLY, IT WILL CONTINUE TO PLAY ITS CURRENT ROLE CONTINUE TO BE OF BENEFIT TO CHINA, TO THE UNITED STATES, AND TO REST OF THE WORLD,' MR CHAU SAID.

AND

THE

MR CHAU, WHO IS CURRENTLY VISITING U.S., WILL ATTEND THE JOINT ANNUAL MEETING OF THE HK/U.S. AND U.S./HK ECONOMIC CO-OPERATION IN NEW YORK TOMORROW (FRIDAY).

-

STATISTICS ON TRADE INVOLVING OUTWARD PROCESSING IN CHINA,

FOURTH QUARTER 1992

IN THE FOURTH QUARTER OF 1992, 48% OF HONG KONG'S TOTAL EXPORTS TO CHINA WERE FOR OUTWARD PROCESSING; THE FIGURE WAS 73% FOR DOMESTIC EXPORTS, AND 42% FOR RE-EXPORTS.

ON THE OTHER HAND, 75% OF HONG KONG'S IMPORTS FROM CHINA WERK RELATED TO OUTWARD PROCESSING, ACCORDING TO STATISTICS RELEASED TODAY ( THURSDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

OVER THE SAME PERIOD, 77% OF HONG KONG'S RE-EXPORTS OF CHINA ORIGIN TO ALL COUNTRIES OTHER THAN CHINA WERE PRODUCED THROUGH OUTWARD PROCESSING IN CHINA.

THE CORRESPONDING PROPORTIONS IN THE FOURTH QUARTER OF 1991 WERE 53% FOR TOTAL EXPORTS TO CHINA, 75% FOR DOMESTIC EXPORTS TO CHINA, 45% FOR RE-EXPORTS TO CHINA, 72% FOR IMPORTS FROM CHINA AND 77% FOR RE-EXPORTS OF CHINA ORIGIN TO ALL COUNTRIES OTHER THAN CHINA.

FOR

IN 1992, 52% OF HONG KONG'S TOTAL EXPORTS TO CHINA WERE OUTWARD PROCESSING; THE FIGURE WAS 74% FOR DOMESTIC EXPORTS, AND 46% FOR RE-EXPORTS.

ON THE OTHER HAND, 72% OF HONG KONG'S IMPORTS FROM CHINA RELATED ΤΟ OUTWARD PROCESSING. OVER THE SAME PERIOD, 78% OF KONG'S RE-EXPORTS OF CHINA ORIGIN TO ALL COUNTRIES OTHER THAN WERE PRODUCED THROUGH OUTWARD PROCESSING IN CHINA.

WERE

HONG

CHINA

/THE CORRESPONDING