HK's exports to mainland for outward processing soar 35 pct in Q1
Post Date: 19 Jun 2010 Viewed: 456
HK's exports to the Chinese mainland in the first quarter this year for outward processing were worth 106 billion HK dollars (13.6 billion U.S. dollars), up 35 percent from a year earlier, the city's Census and Statistics Department said Friday.
Value of HK's re-exports to the mainland for outward processing jumped 37 percent to 104.6 billion HK dollars in the first quarter this year. But the value of domestic exports to the mainland for outward processing dropped 18 percent to 1.4 billion HK dollars.
In the first quarter, value of imports from the mainland related to outward processing rose 28 percent to 165.5 billion HK dollars. On the other hand, 166.4 billion HK dollars of the city's re-exports of mainland origin to other places were produced through outward processing on the mainland, representing an increase of 11 percent.
In the same period, 32 percent of Hong Kong's total exports to China's mainland were for outward processing, while the proportion was 19 percent for domestic exports and 32 percent for re-exports, according to the department.
Some 52 percent of Hong Kong's imports from the mainland were related to outward processing. In the first three months, 73 percent of re-exports of mainland origin to other places were produced through outward processing on the mainland.
The corresponding proportions for exports to the mainland in the first quarter last year were 33 percent for total exports, 31 percent for domestic exports and 33 percent for re-exports.
Proportions for HK's imports from the mainland and for re- exports of mainland origin to other places were 51 percent and 72 percent, respectively, it said.