Beneath the froth

Article Abstract:

Hong Kong officials claim that the 62% increase in residential property prices during 1991 was a clear sign that the colony's economy managed to avoid the prevailing global economic slowdown. However, the surge in property prices is merely a distortion caused by recycling wealth from China through the banking system. Trade statistics comparing the period of Dec 1990 to Feb 1991 with that of the following year show that Hong Kong's domestic exports remained unchanged while re-exports rose by 31.4%.

Economic aspects, Statistics, International trade, Economic indicators

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Ganging up on Li

Article Abstract:

Five consortia, including Li Ka-shing's Hong Kong International Terminals (HIT), are competing for the contract to build Hong Kong's next container terminal. The other competitors are trying to prevent a stranglehold on the colony's cargo facilities by HIT which would result if the firm wins the bidding as more competition in the port market is desirable. Interest in the project is due to increased demand for space by southern China and the terminal's high handling rates.

Contracts, Marine terminals

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