3
billion US dollars in 1972, to 28.9 billion US dollars in 1992.
Hong Kong is now playing a significant role as a gateway to the
mainland. About one-third of Japan's exports to China, and one-
fifth of Japan's imports from China pass through Hong Kong. It is
important to note that included within the trade between Japan
and China, are figures relating to products produced by many Hong
Kong owned and run companies in the mainland.
I should say that the importance of Hong Kong to Japan has
increased all the more significantly as Japan China relations
have developed.
(2) With regard to investment, up to 1992, the cumulative amount
of Japan's direct investment in Hong Kong measured 11.5 billion
US dollars, nearly three times the cumulative amount of Japanese
direct investment in China, which stood at 4.5 billion US dollars
by 1992. Hong Kong is now the second largest recipient, after
Indonesia, of direct Japanese investment in Asia. According to
Hong Kong statistics, Japan as of 1990, became the biggest total
investor in Hong Kong's manufacturing sector.
Recently I have often been asked the question of whether
Japanese companies will withdraw their investment from Hong Kong
as
a result of the current economic climate in Japan, but the
No comments yet.
Private notes are available after approval.