CONFIDENTIAL
BRIEF FOR THE GOVERNOR'S VISIT TO CHINA
Commercial Relations
1978 Statistics
China's exports to and imports from Hong Kong
(i)
SPACE NUEVA VENE KEE
Exports to Hong Kong
Imports from Hong Kong
1977
1978
US$m
US$m
(1,734)
2,252
(7)
17
(ii) Re-export trade to and from China
Re-exports to China
Re-exports originating
from China
(38)
46
(534)
781
(iii)
The composition of the trade is set out in the Annex A to this note. Over the past 10 years Hong Kong has generally accounted for about 8-10 per cent of China's total trade and the second most important market after Japan. There is no accurate figure for Chinese invisible earnings through Hong Kong (e.g. remittances etc.). A reasonably reliable estimate for 1976 and 1977 gave the figures as US$800 million and $1,000 million respectively. On this analogy the figure for 1978 was probably in excess of $1,300 million.
Hong Kong's imports and exports world wide:
Hong Kong's visible trade:
Domestic exports
Re-exports
Total exports
Imports
(7,508) 8,690
(2,108) 2,817
(9,616) 11,507
(10,446) 13,459
Total deficit
(840) 1,952
CONFIDENTIAL /contd......
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