GF 323
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18.
Guangdong
Shenzhen City fared even better than the entire
economic performance.
Province in
half of
1993, Shenzhen's
25.7% in
In the first
gross domestic product grew by
real terms to Rmb 17.9 billion, while its gross
industrial output was higher by 39% in real terms. Of the
output, 70% was attributed to
This part of the output grew
total
industrial
foreign-funded enterprises.
faster than the total, by 42.8% in real terms. Shenzhen's visible trade also grew significantly in the first half of 1993, by 15.6% in US dollar terms to US$5.49 billion.
While exports rose by 12.2% to US$2.93 billion, imports
rose by 19.7%
US$2.55 billion. Shenzhen remained a
favoured location for inward investment, with the pledged
and realised values of foreign direct investment growing by
110% and 67.1% respectively
US$1.8 billion and
US$494 million in the first half of 1993.
to
to
(II)
Visible trade between Hong Kong and China
19.
to
At HK$341 billion, the value of visible trade
between Hong Kong and China in the first half of 1993 was
19응 higher than in the same period in 1992.
China
continued
be Hong Kong's largest trading partner,
accounting for 35% of Hong Kong's total trade value. Reciprocally, Hong Kong was China's second largest trading
partner, accounting for 18.6% of China's total trade value(18)
This was only marginally smaller than Japan's
share of 18.7%.
20.
exports
(18)
In the first half of 1993, Hong Kong's domestic
to China grew by 8% in value terms, while its
This compares with a share of 37% in the first half of 1992, which made Hong Kong the largest trading partner of China. The apparent sharp decline is due to а reclassification of trade statistics by China recently.
Starting from January 1993, China's exports to overseas markets are classified according to their end destinations, rather than immediate destinations as was previously the case.
As a result, the value of China's exports to Hong Kong fell the
by 40% in the first half of 1993 compared with same period in 1992, while the value of visible trade between the two places decreased by 42%.
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