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Current Hong Kong-China Economic Develop
eptember 198
Mr. Williamsonfi
712.00 (.4.0
60 (pige 6)
12/10
Monthly Notes:
Hong Kong-China Trade
INOSA
13 OCT1981
PA
REGISTRY Action Taken
No
13110
Statistics compiled for the Hong Kong Government's Half- Yearly Economic Report revealed the increasing importance of the territory as an entrepot for China, which has become the largest source and market for Hong Kong's re-exports.
2.
Between January and June 1981 the value of all re-exports from Hong Kong to China was HK$3,927 million (US$734 million approximately), an increase of 136% over the same period last year. This represented some 20% of all Hong Kong's re-exports. Principal re-export goods to China were textiles (11.3%); electrical goods and machinery (4.7%) and road vehicles (1.7%).
During the same period, re-exports through Hong Kong of 071 goods originating in China totalled HK$5,732 million (US$1, million approximately), an increase of 57.5% over the same period last year. This represented some 29.3% of all re-exports of China-made goods. Principal commodities were textiles and
clothing (28.8%).
3.
4.
See HICK
091/1 1982
Although no detailed breakdown of these statistics is yet available, compensation trade and outward processing and assembly arrangements between Hong Kong manufacturers and enterprises in Guangdong (particularly Shenzhen SEZ) will account for a substantial proportion of the re-export trade.
"Economic Research" article on Special Economic Zones
5.
The August edition of the Peking-published magazine "Economic Research" (Jingji Yanjiu) carried a lengthy article on China's Special Economic Zones (SEZs). It was written in April by Fang Zhuofen of the Economic Research Institute of the Chinese Academy of Social Sciences and may well have formed part of the reference material for the Central Secretariat's discussion of SEZs at the end of June (see Monthly Notes:
June 1981).
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