GF 323
CONFIDENTIAL #
23
(III) Financial links between Hong Kong and China
(a)
Financial
China
transactions
between Hong Kong and
30.
Cross-border inter-bank
increase in the second quarter.
activities continued to
Liabilities to China's
banks increased by 2.5% during the quarter and by 28.1%
compared with end-June 1990. Claims on China's banks grew
by 9.4% during the second quarter of 1991 and by 42.4%
compared with
end-June 1990.
These developments are shown
in the following table:
External liabilities to and claims on China in respect of Hong Kong's authorized institutions
Claims
Growth
As at end of
banks
quarter
on China's banks
(HK$Mn)
(%)
(HK$ Mn)
Growth
on rate Claims rate China's rate Liabilities during
during non- during to China's the
the banking the quarter sector quarter (%) (HK$Mn) (*)
Growth
1990 Q1
82,142
4
49,020
15
47,791
-2
Q2
95,311
16
61,195
25
49,246
3
Q3
102,480
8
66,769
9
49,206
*
Q4
116,539
14
70,386
5
50,420
2
1991 01 Q2
119,085 122,051
22
79,679 87,129
13
50,300
*
9
47,205
-6
* Decrease of less than 0.5%.
31.
Claims on China's non-banking sector fell by 6.2%
during the second quarter and by 4.1% compared with
end-June 1990. Since 1986, over 90% of these claims were
denominated in foreign currencies. The share of Hong Kong
in global external claims within the Bank for International
Settlements reporting system had been increasing since 1986
and reached a peak of 54.8% at end-1989, before falling
back to 49.6% at end-1990. Much of these external claims
involved China.
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