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Hong Kong's international investment position sound and strong |
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Hong Kong's international investment position remained sound and strong, commented a government spokesman on the international investment position statistics for Hong Kong for the reference year of 2008, which the Census and Statistics Department released on June 2. |
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The spokesman noted that with the significant increase in the level of net external financial assets, its ratio to GDP rose markedly to 286% in 2008 from 234% in 2007. This was one of the key factors underpinning the resilience of the economy in the face of the global financial crisis. |
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At end-2008, Hong Kong's external financial assets and liabilities amounted to HK$17,566.7 billion and HK$12,766.2 billion 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 HK$4,800.5 billion at end-2008, corresponding to 286% of GDP in that year. |
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The ratios of both Hong Kong's external financial assets and liabilities at end-2008 to GDP in that year remained substantial, at 1,048% and 761% respectively, reflecting that Hong Kong is a highly externally oriented economy and also a major financial centre in the region with considerable cross-territory investment. |
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Within Hong Kong's external financial assets, direct investment accounted for the largest share, at 34.2% of the total value at end 2008. This was followed by other investment (with a share of 29.4%), portfolio investment (24.5%), reserve assets (8.1%), and financial derivatives (3.8%). |
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As regards Hong Kong's external financial liabilities, direct investment accounted for 50.7% of the total value at end 2008. This was followed by other investment (with a share of 31.0%), portfolio investment (14.1%), and financial derivatives (4.2%). |
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Most of the broad international investment position components were in net asset positions at end-2008, except direct investment, which was in a net liability position as the amount of direct investment made by non-residents in Hong Kong was greater than that made by Hong Kong residents abroad. |
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The spokesman comments further that both Hong Kong's external financial assets and liabilities were enormous, particularly so when expressed as ratios to GDP. This signified the diverse roles of Hong Kong as an international financial centre, and a conduit for channelling investment funds to the Mainland and other parts of the world. |
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For free download of the above statistics, visit: www.censtatd.gov.hk |
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