World Economy

China-HK Trade Plunges

China-HK Trade PlungesChina-HK Trade Plunges

China’s Ministry of Commerce has announced that the mainland’s total trade with Hong Kong dropped 11.5% year on year in the first three quarters of this year to $231.92 billion, accounting for 7.9% of the mainland’s total overseas trade. AsiaFirst reported. During this period, imports also declined 13.1% to $7.62 billion. The mainland’s total exports to Hong Kong in the same period were $224.29 billion, the ministry said. The official Xinhua news agency has reported that a total of 9,355 Hong Kong-invested projects were approved by the mainland in the first nine months of this year, bringing the total to 382,422 projects, or 10.9% higher from a year ago.