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Media
Trade and investment between the Chinese mainland and Hong Kong are still growing, but at a slower pace.
Statistics from the General Administration of Customs prove that the trade between the mainland and Hong Kong reached 188 billion USD for the first eleven months of the year. The 5.3 percent increase is much lower than that 19.5 percent growth in the same period of last year and the 8.8 percent growth for the first ten months of this year.
From January to November, the Chinese mainland exported 176 billion USD to and imported 121 billion USD from Hong Kong. The 5.4 percent and 3.7 percent growth rates respectively show dramatic drops from the 19.6 percent and 18.2 percent upsurge in the same period of last year.
Trade value for the month of November reflects the same trend. Exports from the mainland to Hong Kong decreased notably by 20 percent last month, standing below 15 billion USD.
The actual use of Hong Kong investment in the mainland went up by 53.2 percent to 38 billion USD over the first eleven months of the year, compared with the 72.4 percent increase over the first ten months, according to the statistics of the Ministry of Commerce.
By the end of November, the Chinese mainland's actual use of investment from Hong Kong had come to 347 billion USD, accounting for nearly 41 percent of the mainland's total of actual use of overseas investment. That ratio shows no difference from that by the end of October.
According to a Xinhua report on Dec.29, Hong Kong experienced drops in both its imports and exports in November due to the global economic downturn. Its total exports and imports decreased by 5.3 percent and 7.9 percent respectively in November on the same month last year. That resulted to a trade deficit of 8.2 billion HK dollars (1.06 billion U.S. dollars) in November.
The report quotes the data from Census and Statistics Department of Hong Kong that the re-exports fell 4.1 percent while the domestic exports fell 31.5 percent in November.
Source: People's Daily Online
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