COUNTRY COMMERCIAL GUIDE

A.   COUNTRY DATA


I.   Profile

1.   Population                    5.98 million (not including 0.5 mn for Macau)

2.   Population Growth Rate        1 percent

3.   Religion(s)                   Buddhist, Taoist, Christian, small numbers of
                                   Moslems, Hindus, Jews, and Sikhs.

4.   Government                    Colonial administration by the United Kingdom;
                                   territory reverts to Chinese sovereignty July 1,
                                   1997.

5.   Language(s)                   English and Cantonese are the languages of
                                   administration and commerce.  Mandarin Chinese
                                   speakers are increasing.

6.   Work Week                     Business hours are 9 to 5, Monday thru Friday.
                                   Saturday has traditionally been a half day but, due
                                   to the competition to keep staff, many companies
                                   now advertise a 5 day workweek.
II.  Domestic Economy

     (US$ Millions, unless otherwise noted)

                                             Projected Projected

                                         1993      1994      1995

1.   GDP (current)                     114,738   130,818   149,133

2.   Real GDP Growth                     5.9       5.7       5.5

3.   GDP Per Capita (dollars)
     (current prices)                   19,385    21,711    23,882  *

4.   Government Expenditure
     as percent of GDP (FY)             17.1      18.7      18.1

5.   Inflation (percent)                 8.5       8.5       8.5    *

6.   Unemployment (percent)              2.1       2.0       2.0    *

7.   Foreign Exchange Reserves          43,003      --       --

8.   Average Exchange Rate
     for US$1.00                         7.736     7.726     7.720

9.   Foreign Debt (US$ millions)          0         0         0

10.  Debt Service Ratio                   N/A      N/A       N/A

11.  U.S. Economic Assistance             N/A      N/A       N/A

12.  U.S. Military Assistance             N/A      N/A       N/A



* U.S. Consulate General Estimates


Source: Hong Kong Government


III. Trade

     (US$ Millions)


                                         1993      1994      1995

1.   Total Exports
     (including re-exports)             135,244   150,121

2.   Total Imports                      139,052   156,433

3.   Exports to the U.S.*
          (domestic exports)              7,794     7,732
          (re-exports)                   23,313    26,810

4.   Imports from the U.S.               10,266    11,036

5.   U.S. Share of Host-country
     Imports (percent)                      7.4       7.4

6.   Imports of Manufactured Goods
     (SITC categories 5-8)

     Total (from all countries)         125,081   141,342

     Projected Growth Rate of
     Total Imports (percent)               14        13

     From the U.S.                        8,491     9,679
     Growth Rate (percent)                 18        14

     U.S. Share of Manufactured Imports
     (percent)                              6.8       6.8




Source: Hong Kong Government




7.   Trade balances with three leading partners in 1993
     (Domestic Exports minus Imports*)

     China           7,675

     Japan          -9,824

     USA             1,591

* Imports minus re-exports by origin adjusted for mark up.

Source: Hong Kong Government


8.   Principal U.S. exports (five)
     (by tariff line item in Million US$)

                                                   1993      1994*

     HS 8542 - Electronic Integrated circuits     1,110       634
     HS 8703 - Motor Cars and Vehicles              650       170
     HS 8802 - Aircraft                             482       261
     HS 8471 - Computers                            400       226
     HS 7102 - Diamonds                             337       186


9.   Principal U.S. imports (five)
     (by tariff line item)

     HS 6110 - Sweaters                             898          288
     HS 6204 - Women's Suits                        705          336
     HS 8473 - Office Machinery                     510          191
     HS 8542 - Electronic Integrated Circuits       495          292
     HS 9102 - Watches                              386           98




* Remark: 1994 - Data from January - June


Source: U.S. Government Statistics



Agricultural Trade

(US$ Millions)


                                         1993           1994          1995

1.   Total Exports                      4,300          4,400          4,400

2.   Total Imports                      8,500          9,000          8,800

3.   Exports to the U.S.                  400            420            450

4.   Imports from the U.S.              1,300          1,700          1,550

5.   U.S. Share of Host-country
     Imports (Percent)                   15.5             17             16

6.   U.S. Products Projected
     Growth Rate (percent)                  5              7              5

     Agricultural Goods Trade
     Balance with U.S.                   -900          -1,280      -1,100IV.  Investment


1.   1992 total foreign direct investment in manufacturing sector (US$ millions)

     $4,828


2.   1992 U.S. direct investment in manufacturing sector (US$ millions and percent share)

     $1,310         27.0 percent


3.   1992 principal foreign investors in manufacturing sector  (three countries)


     US$ Millions

     USA            1,310          28.0 percent

     Japan          1,609          33.0 percent

     China            531          10.9 percent



Source:  Hong Kong Government Estimate

Note:  U. S. Department of Commerce estimates total US direct investment position in Hong
Kong at historical cost (the book value of U.S. direct investors' equity in, and net outstanding
loans to, their foreign affiliates) at yearend 1993 was US$10.5 billion.