RE-EXPORTS through Hongkong to China were up 55.9 per cent in February to $22.3 billion, according to the Government's breakdown of external trade. The big increase in re-exports to China compares with a 10.2 per cent rise in re-exports to the US to $11.2 billion and a 25 per cent rise in total re-exports for the month. Re-exports to Britain were up 27.2 per cent to $1.5 billion while those to Singapore rose 34 per cent to $1.3 billion. Among the products re-exported during the month were $3 billion worth of road vehicles, a 227 per cent increase over February 1992. Clothing re-exports fell by 10 per cent to $5.8 billion while electrical re-exports rose 38 per cent to $5 billion. Domestic exports from Hongkong to China rose 33.3 per cent in February to $5.2 billion. Those to Malaysia, Singapore and Taiwan were also higher, by 42.7 per cent, 21.3 per cent and 17.2 per cent, respectively, but re-exports to the rest of the world eased. The US was the destination for $3.7 billion worth of Hongkong domestic exports during February, a 19.2 per cent decline from the same month last year. Figures for domestic exports to Germany, Britain, the Netherlands and Canada were also well down, while Japan was down by five per cent as a destination, worth $861 million for the month. Exports of electrical goods, telecommunications and sound equipment, and specialised machinery were among the strongest, registering rises in February of 35 per cent, 45 per cent and 70 per cent, respectively. Lehman Brothers analyst Matthew Montagu-Pollock said the increase in domestic exports to China, Taiwan and Malaysia and the reduction to Hongkong's traditional markets of the US, Europe and Japan was a ''continuation of the story of cheap labour in Chinareplacing Hongkong's domestic manufacturing''. Mr Pollock said the 25 per cent increase in the value of re-exports in the first two months of the year compared with the same period last year was ''very strong growth but a slight reduction in the trend of re-export growth''. He said re-exports were prevented from growing at levels of around 30 per cent for any great length of time by capacity restraints in China. The mainland has developed transport, power and other infrastructure bottlenecks as a result of its extremely strong growth. The external trade statistics are the Government's second lot of regular monthly trade statistics, issued about two weeks after provisional estimates. Those first figures for February showed a 3.9 per cent decline in total domestic exports for the month compared with a year earlier, and a 25 per cent surge in total re-exports. The government attributed the gap between the two figures to the continued shift in manufacturing across the border to China, taking advantage of cheaper land and labour.