BACKGROUND NOTE
SECRET
1.
Estimated figures for China's invisible earnings from
Hong Kong
suggest that the percentage of China's gross foreign exchange earnings from Hong Kong accounted for by visible exports has risen from 63% in
1978, to 75% in 1982. Publicly-quoted estimates of invisibles
vary widely, because of the extent and complexity of China's economic involvement in Hong Kong and the lack of obligation to
disclose remittances to China.
2.
The visible trade figures are from official Hong Kong
Government statistics.
3.
This answer has been agreed with the Hong Kong
Government, FED and ESID.
Hong Kong and General Department
April 1983
THIS IS A COPY
THE ORIGINAL HAS BEEN RETAINED
IN THE DEPARTMENT UNDER
SECTION 3 (4) OF THE PUBLIC RECORDS ACT 1958
Califor
13/4
SECRET
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