Shenzhen's Imports via HK up 30 Percent in Jan.-Aug.

Home>>Business

Last updated at: (Beijing Time) Tuesday, September 24, 2002

Shenzhen's Imports via HK up 30 Percent in Jan.-Aug.

DISCUSSION

CHINESE

SEND TO FRIEND

Shenzhen Port in south China's economic powerhouse of Guangdong province imported 25.419 billion US dollars worth of goods via Hong Kong in the first eight months of this year, posing a year-on-year increase of 5.859 billion US dollars, or up 30 percent.

More than 95 percent of the imports were in entrepot trade, or distribution through intermediaries, according to local customs sources.

Experts said the enviable growth in imports, particularly thosein entrepot trade, was conducive to stimulating Hong Kong's exports and revitalizing the economy of the administrative region.

Thanks to Shenzhen's import growth, Hong Kong managed to reverse a negative export-growth trend in the first eight months and realized a 5.9 percent rise in foreign sales in the second quarter, as against a persistent decline for four consecutive quarters. This was said to contribute to a recovery in the Hong Kong economy in the April-June period.

According to the sources, Shenzhen's imports via Hong Kong during the first eight months included 16.173 billion US dollars in processing trade, up 28.68 percent from the same period last year, and 6.41 billion US dollars of general trade, up 22.7 percent.

Seventeen 17 major import sectors witnessed a double-digit annual growth, including integrated circuit chips and micro electronic modules, valued at 5.067 billion US dollars, up 72.22 percent; and spare parts of automatic data processing equipment, valued at 2.552 billion US dollars, up 19.73 percent.

Questions?Comments? Click here

Figures: Foreign Trade of China's Major Bonded Zones