HONG KONG, June 24 (Xinhua) -- Hong Kong recorded a preliminary Balance of Payments (BoP) surplus of 16.4 billion HK dollars in the first quarter of 2013, compared with a BoP surplus of 94.3 billion HK dollars in the fourth quarter of 2012, the Census and Statistics Department of Hong Kong said Monday.
At the end of the first quarter of 2013, Hong Kong's external financial assets and liabilities amounted to 26,671.1 billion HK dollars and 20,951.6 billion HK dollars respectively.
After netting out the external financial liabilities from the external financial assets, Hong Kong was a net creditor. Hong Kong 's net external financial assets amounted to 5,719.5 billion HK dollars at the end of the first quarter of 2013, compared with 5, 674.8 billion HK dollars at the end of the fourth quarter of 2012.
The ratios of both Hong Kong's external financial assets and liabilities to GDP at the end of the first quarter of 2013 remained at very high level, at 1,294 percent and 1,016 percent respectively, reflecting that Hong Kong is a highly externally oriented economy and also a major financial center in the region with considerable cross-territory investment.
At the end of the first quarter of 2013, Hong Kong's gross preliminary External Debt (ED) amounted to 8,026.6 billion HK dollars, decreased by 84.5 billion HK dollars, comparing the fourth quarter of 2012. This was mainly attributable to the decreases in ED of the banking sector and direct investment ( intercompany lending), which were larger than the increase in ED of other sectors.
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