G.F. 324
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5
Effect of removal of China's MFN status on Hong Kona's
7.
A quick
assessment
hac
heon
mado
tho
proportion of Hong Kong's re-exports of China origin to the United States that is likely to be lost if China's MFN
status is removed. Although the relevant exporters in China as well as trading companies in Hong Kong would probably be prepared to accept a cut in their profit margins in order to dilute the effect of the higher Tariff it is not unreasonable, if only for the DurnosA of assessing relative competitiveness, to assume that the whole of the tariff increase would be reflected in the US import prices
the Chinese goods. The adjusted import Chinese
prices of the import prices competitors in
of
goods are then compared with tho of corresponding products from China's major the US market. Based On nrico Aifferential
and market share considerations. a judgement Can he mado of the possible impact of the MFN removal on re-exports in each of the main product categories. A note descrihina this assessment in greater detail is at Annex V.
8.
abnarra Of China
amounted to HK$ 82
would probably be
billion (US$3.5-4.6
Summing up. Hong Kona's
origin to the United States, which
billion (US$10.5 billion) in 1990,
reduced by 33% to 44% or HKS27-36
billion) as a direct consequence of the MFN removal. Based
on the data available. the greatest imnact i a likely to fall оп garments, followed by electrical annliances and electronics. Toys, footwear, and travel goods and handhags are expected to face relatively lega insignificant, impact.
9.
hur
བ+.}།
nat
indirectly
Trade flows that are directly กศ associated with Hong Kong's re-exports of China origin to the United States probably amounted to a total of HK$208 billion (US$27 billion) in 1990 (see estimation in Annex
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