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ECONOMY | Tony Chua, Hong Kong
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29% of Hong Kong’s China exports for outward processing

$125.1bn of Q1 total exports to China were for outward processing, up 18% over last year.

In the first quarter, 29% of Hong Kong’s total exports - 15% for domestic exports and 30% for re-exports - to the Mainland were for outward processing, the Census & Statistics Department said on Friday.

During the same period, 49% of imports from the Mainland were related to outward processing, while 74% 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 of 2010 were 32% for total exports, 19% for domestic exports and 32% for re-exports, while the proportions for imports from the Mainland and for re-exports of Mainland origin to other places were 52% and 73%.

In value terms, $125.1 billion of total exports to the Mainland in the first quarter of this year were for outward processing, representing an increase of 18% over last year.

The value of domestic exports to the Mainland for outward processing dropped 16% to $1.2 billion while the value of re-exports to the Mainland for outward processing increased 18% to $123.9 billion.

Over the same period of comparison, the value of imports from the Mainland related to outward processing increased 14% to $189.1 billion. On the other hand, $204.3 billion of re-exports of Mainland origin to other places were produced through outward processing on the Mainland, a 23% increase.

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