TNAG-1268-FCO40-1617-China-s-economic-relationship-with-Hong-Kong-Shenzhen-econom-1983 — Page 158

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PER CENT PER CENT PER CENT PER CENT PER CENT

.8 AS A BRITISH DEPENDENT TERRITORY, HONG KONG IS REPRESENTED

ON THE BRITISH DELEGATION TO THE GENERAL AGREEMENT ON TARIFFS AND

TRADE. BY VIRTUE OF THIS, IT ALSO PARTICIPATES IN THE MULTI-

FIBRE ARRANGEMENT. WHERE THEUNITED KINGDOM IS A MEMBER OF

INTERNATIONAL COMMODITY AGREEMENTS, THESE CAN BE EXTENDED TO

INCLUDE HONG KONG.

Q.9 THE FOLLOWING TABLE SHOWS THE BALANCE OF VISIBLE TRADE BETWEEN

THE UNITED KINGDOM AND HONG KONG FOR THE PERIOD 1978-1982:

872.5 (Revised figures given to

Mer tevadis office after Dotvade query.onn

(POUNDS MILLION) 1978

1979

1980

1981

1982

IMPORTS FROM

531.4

527.8

689.3 850.2 687.2

897.3

872.5

$47.5

896.6

HK (CIF)

EXPORTS TO HK

361.7

442.5

559.4

617.5

732.5

361-7

43.4

559.2

614.0

732-5

(FOB)

BALANCE

-169.7

-246.8 -290.8 -279.8 -140.0

13/4

(m. 215 5103). idy Bowten

THE UNITED KINGDOM DOES NOT IMPOSE TAXES ON HONG KONG, AND THUS

RECEIVES NO DIRECT REVENUE FROM THERE. THERE ARE SOME RELATIVELY

SMALL BUDGETARY TRANSACTIONS WITH THE TERRITORY, FOR EXAMPLE

CONCERNING DEFENCE. THESE HAVE IN THE PAST LED TO A NET COST TO

THE UK, BUT HONG KONG HAS ASSUMED A GREATER PROPORTION OF COSTS

IN RECENT YEARS.

3. WE BELIEVE THESE QUESTIONS ARE INTENDED TO BE HELPFUL.

GRATEFUL FOR YOUR COMMENTS, AND FOR ANY BACKGROUND INFORMATION,

ESPECIALLY DETAILS OF CASH FLOWS FOR QUESTION 9, EG ROYAL MINT,

DEFENCE, DESKBY 081200Z IF POSSIBLE.

PYM

MINIMAL

HKGD

ESID

FED

ECD(E) ERD

COPIES TO:

MR WEBB-JOHNSON, HKGO

MR CRUICKSHANK, OT/DOT

MR GILHOULY, TREASURY

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