TNAG-1942-FCO40-2768-Internal-economic-situation-in-Hong-Kong-1989 — Page 71

RESTRICTED

TT0060

MDHIAN 2292

RESTRICTED

FM HONG KONG

TO DESKBY 14110OZ FCO

TELNO 501

OF 141015Z FEBRUARY 89

INFO IMMEDIATE BTC HONG KONG

TO HKD

ECONOMIC AND TRADE STATISTICS

YOUR TELNO 390′

OPY

HKC090/2

и

J

1. THE INFORMATION REQUESTED UNDER ITEMS 1(A) TO (C) OF TUR WILL NOT BE PUBLICLY AVAILABLE UNTIL ANNOUNCED IN THE FINANCIAL SECRETARY'S BUDGET SPEECH ON 1ST MARCH. PRELIMINARY INDICATIONS ARE THAT THE GDP GROWTH RATE FOR 1988 WILL BE SOMEWHAT ABOVE THE

6 PER CENT FORECAST BY THE FINANCIAL SECRETARY IN SEPTEMBER 1988: WHILE THE GROWTH RATE OF PRIVATE SECTOR INVESTMENT WILL BE SLIGHTLY BELOW HIS FORECAST OF 7.2 PER CENT, THAT FOR DOMESTIC EXPORTS WILL BE SOMEWHAT HIGHER THAN HIS FORECAST OF 6 PER CENT. AS A SHARE OF GDP, PRIVATE SECTOR INVESTMENT WILL PROBABLY BE SOMEWHAT BELOW 25 PER CENT AND DOMESTIC EXPORTS SOMEWHAT ABOVE 50 PER CENT.

2. ON ITEM 1(D), VALUES OF EXPORTS TO AND IMPORTS FROM HONG KONG ARE RESPECTIVELY ECU 5.8 BILLION (HKD51.7 BILLION) AND

ECU 8.7 BILLION (HKD 77.4 BILLION). (AT TODAY'S EXCHANGE RATE OF 1 ECU EQUALS HKD 8.86.)

3. SBTC HONG KONG WILL SEND YOU THE FIGURES ON ITEM 1 (E) DIRECT.

WILSON

YYYY

MAIN

22

MINIMAL

HKD

WWWW

DISTRIBUTION

22

PLANNERS

ECONOMIC ADVISERS

PAGE

1

RESTRICTED