Data indicate China demand
HONG Kong's exports to China intended for outward processing there rose 10 per cent on a year-on-year basis to be worth $41.1 billion in the third quarter of last year, and represented 47.2 per cent of the territory's total exports in that period.
Figures released by the Census and Statistics Department yesterday also showed the proportion was 6.9 points lower than in the same period of 1992.
According to the department, the fall indicated that Hong Kong's exports to meet mainland demand rose at a faster pace than those for outward processing.
''This was in line with the sustained increase in domestic demand in China for imported goods,'' a department spokesman said.
Exports for outward processing in China refers to raw materials or semi-processed products moving from or via Hong Kong to China for processing before being returned to the territory.
Yesterday's trade statistics also showed that imports from China and re-exports of China origin involving outward processing in the period had jumped 19.7 per cent and 19.5 per cent respectively.
During the third quarter, imports from China involving outward processing there were valued at $81.1 billion, or 73 per cent of Hong Kong's total imports from the mainland.
In the same period, re-exports of China origin involving outward processing in China were worth $104.2 billion, representing 81 per cent of the territory's total re-exports of China origin.
Total exports to China involving outward processing there are split into domestic exports to China and re-exports to China. The former fell by 2.5 per cent while the latter rose by 15.2 per cent in the third quarter of 1993.
Domestic exports to China were valued at $11.7 billion, while re-exports to China reached $29.4 billion, putting total exports to China involving outward processing in China at $41.1 billion.