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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

SJ meets legal sector

Secretary for Justice Teresa Cheng today met members from the legal and dispute resolution sector to listen to their views on how the industry should maximise the opportunities brought about by the Qianhai Plan. The meeting also covered the opportunities made available by the National 14th Five-Year Plan and the Greater Bay Area development.    Ms Cheng pointed out that the outline of the National 14th Five-Year Plan supports Hong Kong to establish itself as the centre for international legal and dispute resolution services in the Asia-Pacific region.   Meanwhile, the Plan for Comprehensive Deepening Reform & Opening Up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, promulgated earlier this month, clearly states a higher level of opening up in legal matters in the zone.   It also mentioned the establishment of an international legal services centre and an international commercial dispute resolution centre.   Ms Cheng noted that as the only common law jurisdiction within the country, Hong Kong shall utilise the unique advantages under “one country, two systems and three jurisdictions” in the bay area, adding that with the central government's support, Hong Kong’s legal and dispute resolution sector has very promising prospects.   The justice chief said the Report on Hong Kong’s Business Environments published by the Hong Kong Special Administrative Region Government reiterates Hong Kong’s institutional strengths under “one country, two systems”, with other inherent strengths remaining intact.   Such strengths include the solid foundation of the rule of law and judicial independence guaranteed by the Basic Law, which provide a safe and vibrant business environment to attract more investments in Hong Kong, and into the Mainland via the city.   The Department of Justice will continue to maintain close contact with the stakeholders to bring out Hong Kong’s best to integrate with the country’s needs and to create synergy with the nation’s development.
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