32% of HK's exports to mainland for outward processing in 2010

A total of 32 percent of Hong Kong's total exports to the Chinese mainland in 2010 were for outward processing, said the city's Census and Statistics Department on Friday.


In value terms, 519.1 billion HK dollars (66.55 billion U.S. dollars) of exports to the mainland were for outward processing, representing an increase of 22 percent over 2009.


A total of 34 percent of Hong Kong's total exports to the Chinese mainland were for outward processing in the fourth quarter last year with value terms of 141.5 billion HK dollars, representing an increase of 13 percent over the fourth quarter of 2009.


Exports to the Chinese mainland for outward processing refer to raw materials or semi-manufactures exported from or through Hong Kong to the mainland for processing with a contractual arrangement for subsequent re-importation of the processed goods into Hong Kong. (1 U.S. dollar equals 7.8 HK dollars)
(Source:http://news.xinhuanet.com)