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Apr exports value down 13%

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

5G subsidy scheme funding doubled

The Government has increased the funding earmarked for a subsidy scheme to encourage early 5G deployment from $50 million to $100 million and extended the application deadline to July 31, 2022.   It said about 100 additional projects would be accommodated as a result.   Under the Anti-epidemic Fund, the Subsidy Scheme for Encouraging Early Deployment of 5G subsidises 50% of the costs relevant to the deployment of 5G technology in a project, subject to a cap of $500,000.   Since its launch in May 2020, the Government has approved 103 applications, covering innovative applications in various sectors, such as remote mechanical maintenance, remote telemedicine application, 3D building information modelling in construction sites and 4K/8K live video broadcasting.   Secretary for Commerce & Economic Development Edward Yau said with its edge of high speed, low latency, high capacity and massive connectivity, 5G provides enormous potential for developing business services and smart city applications from smart homes to autonomous driving.   He added that the good progress has laid a solid foundation for its extensive application, and the Government will continue its efforts in promoting 5G development.   Enquiries on the scheme can be made to 2961 6333 or via email.
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