TNAG-0845-FCO40-1055-Visits-of-Foreign-and-Commonwealth-officials-to-Hong-Kong-1979 — Page 167

VISIT BY MR PETER BLAKER MP TO HONG KONG: 23-25 SEPTEMBER 1979

BRI NO.

HK9

Area:

Population:

HONG KONG: BASIC FACTS

(1978 figures except where indicated)

404 square miles

Approximately 4.9 million

98% of Chinese stock

2% expatriates and others

Per Capita GDP:

£1,257

Rate of Inflation:

6%

BUDGET

Government revenue in 1978/79 (estimated):

Income Tax

Profits Tax

15%

(maximum)

16% (maximum)

£1,027 million

Government expenditure in 1978/79 (estimated):

46%

19% =

19%

4%

£909 million

social services, including education

police, defence, administration etc.

transport, water supplies, amenities

airport, harbour, external communications

12%

miscellaneous

TRADE

Total Domestic Exports:

£4,285 million: up 16.3% on 1977

(textiles and clothing: 45%)

Exports to UK:

£530 million

(textiles and clothing: 57.5%) (cameras, watches etc: 6.3%) (radios, TV's etc:

4.7%)

Exports to UK

(January-July 1979):

£376 million:

up 26.0% on January-July 1978

Imports from UK:

£362 million

(machinery and trans-

port equipment: (manufactured goods:

38.1%)

26.1%)

Present exchange rate: approximately £1 = HK$11.00

/Imports