TNAG-1051-FCO40-1301-China-s-economic-relationship-with-Hong-Kong-1982 — Page 4

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Mr Williamson, HKGD

CHINA'S EARNINGS FROM HONG KONG

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We have

1 Thank you for your minute of 8 December. 1981. looked through our files and data sources but are unable to provide you with any more recent information than is contained in the DEI brief sent to you separately by Mr Walker.

2

Some trade data for 1981 is available from published sources, and no doubt Mr Margolis is familiar with these. The value of Hong Kong's trade with China increased substantially in the first half of 1981 over 1980, but the trade deficit of US$1544 in this period was similar to that which occurred in 1980 as a whole at an annual rate.

3

Comparing the final column of Table 1 in the Hong Kong Government's own note on Economic Links with China (dated 18 February 1981) the data are as follows:-

Table 1

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See ник

091/11982

Balance of trade between Hong Kong and China (in US$m)

1980

1981

(first half)

1981 Jan-Aug

Total imports

4427

2484

3359

from China

Retained imports

2740

1405

1904

from China

Re-exports of

1687

1079

1455

China origin

Total exports

1256

940,

n/a

to China

Domestic exports

323

217

n/a

to China

Re-exports to

933

723

n/a

China

Visible trade

3171

1544

n/a

deficit

LAST PAPER

/Table 2