XN000022-1996-12-12 — Page 6

(ii)

5-

a separate amount with no pre-set ceiling, payable on the basis of the actual severance payment that needs to be paid to staff employed using the operating expenses reimbursement.

The Commission is chaired by the Hon JD McGregor. Its members at the time the report was produced were Dr Cheng Hon-kwan, Mr Christopher Cheng Wai-chee, Mr Lawrence Lam Yin-ming, Dr Thomas Leung Kwok-fai and Miss Gladys Li Chi- hei.

End

External trade statistics for October

In October 1996, the value of re-exports grew by 8.2% over a year earlier to $110.5 billion, while the value of domestic exports decreased by 6.5% to $19.4 billion. Meanwhile, imports increased by 5.2% to $138.1 billion.

The Census and Statistics Department today released detailed statistics on external trade with breakdown by country/territory and commodity for October 1996.

Changes in the value of Hong Kong's re-exports to ten main destinations are shown in Table 1.

Comparing October 1996 with October 1995, increases were recorded in the value of re-exports to Singapore (+19%), the Netherlands (+18%), China (+14%), Japan (+13%), South Korea (+12%), the United Kingdom (+8.5%) and the United States (+4.9%).

However, decreases were recorded in the value of re-exports to Taiwan (- 4.1%), France (-1.5%) and Germany (-0.5%).

Comparing the first ten months of 1996 with the same period in 1995, the value of re-exports to most main destinations showed increases of various magnitudes : Japan (+18%), the United Kingdom (+14%), the Netherlands (+11%), France (+8.7%), China (+8.3%), Singapore (+7.5%), South Korea (+6.5%), Germany (+6.1%) and the United States (+3.9%).

However, the value of re-exports to Taiwan decreased by 4.8%.