HK exports rise 26pc to $409b amid recovery

Business | Victor Zhong and Reuters and Bloomberg 28 Apr 2021

Hong Kong total exports rose 26.4 percent to HK$409.1 billion in March from a year ago thanks to a pickup in global demand, data from the Census and Statistics Department showed.

The value of imports of goods rose by 21.7 percent to HK$436.1 billion in March 2021.

For the first quarter of 2021, exports rose 33.2 percent, while imports increased by 25.6 percent.

A government spokesman said the global economic recovery led by the mainland and the United States should continue to support Hong Kong's exports performance in the period ahead.

In other news, profits at China's industrial firms grew sharply in March from a low base a year ago as demand for raw materials surged along with the economic recovery, but the pace of growth slowed, official data showed yesterday.

Profits rose to 711.18 billion yuan (HK$851.39 billion) in March, up 92.3 percent from a year ago, when the economy was hard hit by the Covid-19 crisis, data from the National Bureau of Statistics showed.

Separately, China's local authorities have slowed the pace of debt sales to finance infrastructure projects this year.

Local governments have sold or plan to sell 222.7 billion yuan of so-called special bonds in January to April to fund shantytown renovations, highways and other infrastructure investments.

That's a sharp decline from 729.6 billion yuan of debt sold in the same period in 2019 and 1.15 trillion yuan in 2020.

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