Hong Kong market rises in July, 2014

25.08.2014

The Census & Statistics Department of Hong Kong published a report, in which it summarized the statistical data over the trade in July, 2014.

Thus, the total export increased up to $326.2 billions. This figure includes re-export, which increased 6,8%, and also domestic export increased 7%. The import has also risen – and now it is $368.3 billions. Therefore, it created the trade deficit as to $42.1 billions.

For the first seven months of 2014 the total export increased 3,4% as to the same figure for the last year. Import of goods increased 3,9% for the same timeframe.

Hong Kong market as whole showed growth in July, however, it still is dependable on the world economic situation.

Source: http://www.censtatd.gov.hk/press_release/pressReleaseDetail.jsp?charsetID=1&pressRID=3466

Expert’s opinion

In the light of the unstable situation with regards to sanctions and Ukraine traditional toolset of tax planning started slowly drifting to new harbors.

Hong Kong and Singapore embraced goods and finance flows, which operate goods flow between China and the rest of the world, with respective hospitality.

Yaroslav Lomakin ( Managing Partner, Honest&Bright)