機密
CONFIDENTIAL #2--
19
29.
Putting the trade figures in perspective, Hong Kong incurred a visible trade deficit of HK$22,695 million
with China in 1988, 23% less than the 1987 deficit of
HK$29,315 million.
1987 (HK$ Mn)
1988 (HK$ Mn)
Domestic exports to China
27,871
38,043
Re-exports to China
60,170
94,895
Total exports to China
88,041
132,938
Imports from China
117,357
155,634
Visible trade balance
with China
-29,315
-22,695
(III)
Financial links between Hong Kong and China
(a)
Financial transactions between Hong Kong and China
30.
Financial transactions between Hong Kong and China continued to grow. Claims on China's banks and on its non-banking sector rose by 10.7% and 14.2% respectively during the fourth quarter. During 1988, the corresponding increases were 39% and 76.7%. Of the total claims on China's non-banking sector at HK$39.4 billion at the end of 1988, 60% were from Japanese banks (presumably because of tax advantages granted by the Japanese Government for loans to China) and 20% from PRC-interest banks. Most of these loans were to the provincial international trust and investment corporations (ITICS). Liabilities to China's banks grew by 6.2% during the fourth quarter and by 22% over the year.
GF 323
CONFIDENTIAL ##
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