XN000022-1994-05-20 — Page 12

FRIDAY, MAY 20, 1994

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THE TOTAL AMOUNT SECURED UNDER NEW MORTGAGES OTHER THAN BUILDING MORTGAGES LAST MONTH WAS $6.44 BILLION, COMPARED WITH $13.67 BILLION IN APRIL LAST YEAR.

REPAYMENTS UNDER MORTGAGES OF ALL KINDS, AS EVIDENCED BY DISCHARGES AND MORTGAGEE'S RECEIPTS, WERE $3.42 BILLION LAST MONTH, COMPARED WITH $2.75 BILLION IN APRIL LAST YEAR.

STATISTICS ON OUTWARD PROCESSING TRADE IN CHINA

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IN THE FOURTH QUARTER OF 1993, 49% OF HONG KONG'S TOTAL EXPORTS TO CHINA WERE FOR OUTWARD PROCESSING; THE FIGURE WAS 77% FOR DOMESTIC EXPORTS, AND 43% FOR RE-EXPORTS.

ON THE OTHER HAND, 76% OF HONG KONG'S IMPORTS FROM CHINA WERE RELATED TO OUTWARD PROCESSING, ACCORDING TO STATISTICS RELEASED TODAY (FRIDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

OVER THE SAME PERIOD, 80% 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 1992 WERE 48% FOR TOTAL EXPORTS TO CHINA, 73% FOR DOMESTIC EXPORTS TO CHINA, 42% FOR RE-EXPORTS TO CHINA, 75% FOR IMPORTS FROM CHINA AND 77% FOR RE-EXPORTS OF CHINA ORIGIN TO ALL COUNTRIES OTHER THAN CHINA.

IN 1993, 48% OF HONG KONG'S TOTAL EXPORTS TO CHINA WERE FOR OUTWARD PROCESSING; THE FIGURE WAS 74% FOR DOMESTIC EXPORTS, AND 42% FOR RE-EXPORTS.

ON THE OTHER HAND, 74% OF HONG KONG'S IMPORTS FROM CHINA WERE RELATED ΤΟ OUTWARD PROCESSING.

OVER THE SAME PERIOD, 81% 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 1992 WERE 52% FOR TOTAL EXPORTS TO CHINA, 74% FOR DOMESTIC EXPORTS ΤΟ CHINA, 46% FOR RE-EXPORTS то CHINA, 72% FOR IMPORTS FROM CHINA AND 78% FOR RE-EXPORTS OF CHINA ORIGIN TO ALL COUNTRIES OTHER THAN CHINA.

THE DECREASES IN THE PROPORTION OF EXPORTS TO CHINA FOR OUTWARD PROCESSING AS RECORDED IN 1993 REFLECT THAT HONG KONG'S EXPORTS FOR MEETING DOMESTIC DEMAND IN CHINA, VIZ. EXPORTS TO CHINA NOT DESTINED FOR OUTWARD PROCESSING, INCREASED AT A FASTER PACE THAN OUTWARD PROCESSING TRADE DURING THE PERIOD. THIS IS IN LINE WITH THE SUSTAINED INCREASE IN DOMESTIC DEMAND IN CHINA FOR IMPORTED GOODS.

TO PROVIDE A BETTER UNDERSTANDING OF THE NATURE AND IMPORTANCE OF OUTWARD PROCESSING IN CHINA INITIATED BY HONG KONG FIRMS, THE CENSUS AND STATISTICS DEPARTMENT HAS BEEN CONDUCTING A SAMPLE SURVEY AS FROM THE THIRD QUARTER OF 1988 TO DISTINGUISH HONG KONG'S EXPORTS TO CHINA INTO THOSE WHICH ARE FOR OUTWARD PROCESSING AND THOSE WHICH ARE NOT.

/THE SCOPE