XN000022-1994-02-07 — Page 3

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MONDAY, FEBRUARY 7, 1994

THE LEGISLATIVE "THE BILL IS CURRENTLY BEING SCRUTINISED BY COUNCIL BILLS COMMITTEE AND WE HOPE IT WILL BE ENACTED AND IMPLEMENTED WITHIN THIS SESSION, HE SAID.

*

(INSIDER WHICH

MORE RECENTLY, HE ADDED, AMENDMENTS TO THE SECURITIES DEALING) ORDINANCE WERE INTRODUCED INTO THE LEGISLATIVE COUNCIL

ENSURE

COVERED ORDINANCE SOUGHT TO DERIVATIVE PRODUCTS.

THAT

THE

THIRD-PARTY-ISSUED

GROSS DOMESTIC PRODUCT FOR THIRD QUARTER OF 1993

HONG

KONG'S GROSS DOMESTIC PRODUCT (GDP) IN THE THIRD QUARTER OF LAST YEAR GREW BY 5.6% IN REAL TERMS OVER THE SAME QUARTER IN 1992, ACCORDING TO THE PRELIMINARY ESTIMATES RELEASED TODAY (MONDAY) BY CENSUS AND STATISTICS DEPARTMENT.

THE

AMONG THE MAIN COMPONENTS OF THE GDP ESTIMATES, GROSS

TERMS GREW BY 5.8% IN REAL

IN FIXED CAPITAL FORMATION QUARTER OF 1993 OVER THE SAME QUARTER IN 1992.

THE

DOMESTIC THIRD

A

SUBSTANTIAL

WITHIN THIS COMPONENT, CONSTRUCTION RECORDED GROWTH OF 16.6%. UNDERLYING THIS GROWTH WAS A SIGNIFICANT INCREASE IN EXPENDITURE ON PUBLIC SECTOR CONSTRUCTION.

ON

THE

SAME BASIS OF

CONSUMPTION CONSUMPTION

PRIVATE COMPARISON, EXPENDITURE GREW BY 5.7% IN REAL TERMS. GOVERNMENT EXPENDITURE (DEFINED IN NATIONAL ACCOUNTS TERMS) GREW BY 2.6% IN REAL TERMS IN THE THIRD QUARTER OF 1993 OVER THE SAME QUARTER IN 1992.

EXTERNAL TRADE CONTINUED TO SHOW NOTABLE GROWTH IN QUARTER OF 1993.

THE THIRD

TOTAL EXPORTS OF GOODS REGISTERED A YEAR-ON-YEAR GROWTH RATE OF 14.2% IN REAL TERMS.

THESE, OF DECLINED BY 6.0%. WAS 15.2%.

RE-EXPORTS GREW BY 21.4%, WHILE DOMESTIC EXPORTS THE CORRESPONDING GROWTH RATE FOR IMPORTS OF

GOODS

AS 8.6%

REGARDS EXPORTS OF SERVICES, THE GROWTH RATE IN REAL WAS

GROWTH THE CORRESPONDING OVER A YEAR EARLIER. IMPORTS OF SERVICES WAS 6.9%.

TERMS

RATE

FOR

CONSISTENT WITH THE MODERATION IN CONSUMER PRICE INFLATION, THE RATE OF INCREASE IN THE IMPLICIT PRICE DEFLATOR OF GDP

9.4% IN THE FIRST QUARTER TO 9.0% IN THE FROM FURTHER TO 7.4% IN THE THIRD QUARTER.

SECOND

SLOWED DOWN QUARTER,

AND

FOR THE

TOGETHER, THREE QUARTERS TAKEN FIRST INCREASE AVERAGED 8.5%.

THE RATE

OF

THE RATE OF CHANGE IN THE IMPLICIT PRICE DEFLATOR OF GDP IS BROAD MEASURE OF INFLATION IN THE WHOLE ECONOMY.

/ACCORDING TO

A