TNAG-1603-FCO40-2210-Future-of-Hong-Kong-annual-reports-to-Parliament-on-Hong-Kon-1987 — Page 37

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50.

In the property market, demand for most types of private

sector property has been strong this year reflecting a revival of

interest in property investment generally Following a strong

recovery

in the property market in 1985, prices and rentals firm, while trading in property was active Pa (elis)

held

)

(c)

Trade relations

laus

-) 51

<013)

remains

Hong Kong's longer term economic performance

dependent on external

The threat of protectionism in Hong

forces

Kong's major export markets,

remains,

While prospects for

longer term given China's

domestic exports and

the

particularly the United States,

exports to China

appear good in

modernisation programme, Hong Kong's

to China have been affected by

re-exports

tighter Chinese control on imports since April 1985. Paco)

52. C

The Hong Kong Government will continue to make every effort to counter protectionist pressures and to defend Hong Kong's trading

The past year has seen the satisfactory conclusion

several new agreements of vital importance to Hong Kong's textiles

These include the extension of the

interests.

and

garments

industries

of

Multi-Fibre Arrangement until July 1991 and bilateral agreements on textiles with the United States and with the European Community.<o

53.

As

from 23 April 1986 Hong Kong has been a separate contracting party to the General Agreement on Tariffs and Trade and, in that capacity, has supported the launching of the Uruguay round of multilateral trade negotiations in November. In the forthcoming

discussions Hong Kong will

particular support to efforts to

bring about trade liberalisation and improved market access: it has

considerable interest in negotiations on trade in services, a sector

of growing importance to

to the Hong Kong economy.

lend

<Pacel 15)

>

Citate

(d)

Public Finances

شتلة

(03)

-) 54.5

financial

The Hong Kong Government budget returned to surplus in the

three year 1985-86 after

of deficits. years

For

the

financial year 1986/87, higher yields from earnings and profits tax

are

expected, and the income

from

1 and

sales will also be higher.

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