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Hong Kong’s Outward Processing Fall 2 Pct in Q1

June 20, 2008

Hong Kong’s outward processing fall 2 pct in Q1

HONG KONG, June 19 (Xinhua) — Hong Kong’s total exports to the Chinese mainland for outward processing dropped 2 percent to 101.5 billion HK dollars (about 13 billion U.S. dollars) in the first quarter of 2008 year on year, the Census and Statistics Department said here Thursday.

The value of domestic exports to the Chinese mainland for outward processing also fell 8 percent to 3.4 billion HK dollars ( 436 million U.S. dollars) while re-exports to the Chinese mainland dipped 1 percent to 98.2 billion HK dollars (12.6 billion U.S. dollars).

The value of imports from the Chinese mainland related to outward processing rose 2 percent to 184.1 billion HK dollars (23. 6 billion U.S. dollars), according to the department.

Meanwhile, Hong Kong’s re-exports of Chinese mainland origin to other places through outward processing expanded 13 percent to 203. 5 billion HK dollars (26.1 billion U.S. dollars).

Of Hong Kong’s total exports to the Chinese mainland, 33 percent were for outward processing, 40 percent for domestic exports and 32 percent for re-exports.

During the first quarter in 2008, 59 percent of imports from the Chinese mainland to Hong Kong were related to outward processing, and 81 percent of Hong Kong’s re-exports of Chinese mainland origin to other places were produced through outward processing in the Chinese mainland.

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