The value of Hong Kong's total exports decreased to $338.3 billion in April, down 13% on the same month last year, the Census & Statistics Department announced today. The value of imports of goods decreased 11.9% to $374.9 billion for the same period. A trade deficit of $36.6 billion, or 9.8% of the value of imports, was recorded in April. Comparing the three-month period ending April with the preceding three months on a seasonally adjusted basis, the value of exports rose 15.4%, while that of imports increased 10.7%. The Government noted that the value of merchandise exports declined further from a year earlier in April. Exports to the Mainland, the US and the European Union all shrank and exports to other major Asian markets recorded decreases of varying degrees. Looking ahead, it added that the weakness in the advanced economies will continue to weigh on Hong Kong's export performance, though the expected faster recovery of the Mainland economy should
The Government announced today that the Convention & Exhibition Industry Subsidy Scheme will be extended for six months to June 30, 2022.
The extension will benefit more convention and exhibition activities and enhance the confidence of event organisers in staging activities in Hong Kong.
Established with a commitment of $1.02 billion, the scheme consists of two parts. One part provides organisers with a full subsidy for the venue rental of exhibitions and international conventions at the Hong Kong Convention & Exhibition Centre and AsiaWorld-Expo starting from October 3, 2020.
The other part of the scheme subsidises exhibitors and major conference participants 50% of the participation fee at events organised by the Trade Development Council starting from November 30, 2020.
As at May 31, it had subsidised 31 exhibitions, involving a total subsidy of about $61 million.
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