Hong Kong trade rebounds sharply, hitting monthly high of more than HK$800 billion as commerce chief urges China, Southeast Asia penetration
- Secretary for Commerce and Economic Development Edward Yau warns, however, that city has still to resolve a trade dispute with US over ‘Made-in-China’ label
- Previous trade record was set in 2018 when the global economy was robust
Hong Kong’s trade figures rebounded sharply over the past few months and the city should capitalise on the momentum by penetrating the mainland Chinese market and Southeast Asia, its commerce chief said on Saturday.
Secretary for Commerce and Economic Development Edward Yau Tang-wah noted the total monthly value of merchandise exchange surpassed HK$800 billion (US$103 billion) last December, as well as in January, March and April this year, covering export, import and intermediary activities.
“It’s a record to see the figures in four months out of a five-month period [between December and April] going beyond HK$800 billion,” he told a radio programme.
Trade has been a crucial engine to drive an economic rebound for the city in the first quarter, which saw the gross domestic product increasing year-on-year by 7.9 per cent – the most significant surge since the first three months of 2010.
Yau said the data had strengthened local confidence to carry on with free trade.
