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Apr exports value up 1.1%

The value of Hong Kong’s total goods exports increased to $389 billion in April, up 1.1% compared with the same month last year, the Census & Statistics Department announced today.   The value of imports of goods rose 2.1% to $425.6 billion for the same period.   A trade deficit of $36.6 billion, or 8.6% of the value of imports, was recorded for the month.   Comparing the three-month period ending April with the preceding three months on a seasonally adjusted basis, the value of total exports decreased 12% while that of imports fell 11.7%.   The Government said epidemic-induced transportation disruptions, though easing somewhat in the latter part of the month, continued to constrain export performance.   It pointed out that exports to the Mainland fell while those to the US and the European Union posted visible growth.   Looking ahead, the global economic outlook has worsened amid rampant inflation in some major economies and monetary policy tightening by respective cen

Electric car supply key to transition

(To watch the full press conference with sign language interpretation, click here.)   The roadmap on the popularisation of electric vehicles to be announced next month will be a clear signal for car manufacturers and suppliers to prepare for the transition by increasing supply, Secretary for the Environment KS Wong said today.   At a press conference on the 2021-22 Budget initiatives this morning, Mr Wong pointed out that Hong Kong's target of phasing out conventional petrol private cars in 2035 or earlier was progressive.   “Regarding the phasing out of conventional private vehicles, our target is actually the most progressive in Asia, you have to understand that. And our target is that we would like to set the target of 2035 as the deadline.”   He noted that a good supply of electric vehicles in the private car industry will be a key factor during the transition.   "The meaning of that 2035 is to set a clear signal to car manufacturers and suppliers to Hong Kong that we would progressively support more electric private vehicles in Hong Kong, because in Hong Kong, one of the critical factors to go through this transition is to have a reasonable supply of electric vehicles in the private car sector. I think with this clear signal, there would be more and more supply so that we can review that target over time.”
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