| Hong Kong Economy Archive: |
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HK Total Deposits up 0.3% in April
May 30, 10:38 AM EDT |
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| Total loans and advances rose by 1.6% in April. |
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| According to statistics published today by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.3% in April 2008. Hong Kong dollar deposits rose by 0.3%, as the expansion in savings deposits exceeded the decreases in demand and time deposits. Foreign currency deposits grew by 0.2%. In particular, renminbi deposits increased by 33% to RMB76.6 billion yuan at the end of April, accounting for around 3.1% of foreign currency deposits. |
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Hong Kong Goods Exports up 14.5% in April
May 27, 9:52 AM EDT |
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| For the first four months of 2008 as a whole, the value of total exports of goods rose by 11.5% over the same period in 2007. |
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| In April 2008, the value of total exports of goods increased by 14.5% over a year earlier to $243.4 billion, after a year-on-year increase of 7.6% in March 2008. Within this total, the value of re-exports increased by 15.5% to $235.6 billion in April 2008, whereas the value of domestic exports decreased by 10% to $7.8 billion. |
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Hong Kong April CPI up 4.2% in March
May 22, 9:53 AM EDT |
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| Year-on-year decline in prices was recorded in April 2008 for durable goods -3.1% in the Composite CPI and -3.7% in the CPI A. |
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| The year-on-year rate of increase in the Composite CPI in April 2008, 5.4% was significantly larger than that in March 2008 ,4.2%. However, it should be noted that the headline inflation rate in March 2008 was affected by the government relief measure of rates concession for 2008. As there was no such measure in March 2007, the year-on-year rate of change in the CPIs in March 2008 had been lowered. |
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Hong Kong's Unemployment Rate Falls to 3.3%
May 19, 3:01 PM EDT |
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| The underemployment rate also edged down from 1.9% to 1.8% over the same period. |
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| According to the latest labour force statistics released today by the Census and Statistics Department, the seasonally adjusted unemployment rate decreased from 3.4% in January - March 2008 to 3.3% in February - April 2008. |
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Hong Kong’s Interest Rate Drops to 0.79%
May 19, 10:10 AM EDT |
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| The Hong Kong Monetary Authority announced today the composite interest rate at the end of April 2008. |
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| The composite interest rate, which reflects the average cost of funds of banks, fell by 19 basis points to 0.79% at the end of April 2008, from 0.98% at the end of March 2008. This followed a decrease of 37 basis points in March 2008. |
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Hong Kong GDP Rises 7.1% in Q1
May 16, 10:54 AM EDT |
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| Imports of goods also increased by 8.4% in real terms in the first quarter of 2008. |
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| In the first quarter of 2008, the Gross Domestic Product increased by 7.1% in real terms over a year earlier, compared with the 6.9% growth in the fourth quarter of 2007. On a seasonally adjusted quarter-to-quarter comparison basis, GDP recorded an increase of 1.8% in real terms in the first quarter of 2008. |
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Hong Kong Goods Exports Rise 5.8% in March
May 13, 9:57 AM EDT |
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| Comparing March 2008 with March 2007, the prices of re-exports of goods increased by 2.6%, while those of domestic exports increased by 3.8%. |
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| In March 2008, the volume of Hong Kong''''s re-exports of goods increased by 6.4% over March 2007, whereas that of domestic exports decreased by 9.5%. Taken together, the volume of total exports of goods increased by 5.8%. Concurrently, the volume of imports of goods increased by 3%. |
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