HK's GNP Rises by 4.6 Percent in 4th Quarter of 2000Hong Kong's GNP rose by 4.6 percent in real terms in the fourth quarter of 2000 over a year earlier, figures released Monday by the Census and Statistics Department showed.Hong Kong's GNP for the fourth quarter of 2000 was estimated at 333.6 billion HK dollars (US$42.76 billion) at current market prices, representing a slight decline of 1.1 percent over a year earlier. But, after netting out the effect of price changes, Hong Kong's GNP rose by 4.6 percent in real terms in the fourth quarter of 2000 over a year earlier. Total factor income inflow into Hong Kong declined by 2.7 percent in the fourth quarter of 2000 over a year earlier, while total factor income outflow increased by 4.8 percent. For 2000 as a whole, Hong Kong's GNP increased by 2.1 percent at current market prices. After netting out the effect of price changes, Hong Kong's GNP rose by 9.2 percent in real terms in 2000. A Government Secretariat spokesman noted that external factor income flows continued to be sizable in the fourth quarter of 2000, with the inflow and outflow each amounting to nearly 30 percent of GDP in that quarter. "This clearly demonstrates the highly externally-oriented nature of the Hong Kong economy," he said. The spokesman also pointed out that the factor income account continued to attain an overall net inflow in the fourth quarter of 2000. Yet as the total factor income inflow fell while the corresponding outflow increased, the net factor income inflow was smaller than a year earlier, resulting in a slower GNP growth than GDP growth in the fourth quarter of 2000. The decrease in the total factor income inflow in the fourth quarter was largely attributable to the decline in direct investment income inflow, as the global economic environment turned less sanguine towards the end of last year. Nevertheless, for 2000 as a whole, both total factor income inflow and outflow recorded notable growth. |
| People's Daily Online --- http://english.peopledaily.com.cn/ |