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Feb exports value down 0.8%

The value of Hong Kong’s total exports decreased to $284.1 billion in February, down 0.8% on the same month last year, the Census & Statistics Department announced today.   The value of imports of goods fell 1.8% to $325.7 billion for the same period.   A trade deficit of $41.7 billion, or 12.8% of the value of imports, was recorded in February.   Comparing the three-month period ending February with the preceding three months on a seasonally adjusted basis, the value of exports rose 5.5%, while that of imports also increased 3.3%.   The Government noted that taking the first two months of the year together to remove the volatility caused by the difference in timing of the Lunar New Year, the value of exports posted a 16.6% growth against a very low base of comparison a year ago.   Exports to the Mainland and the US rose notably, while those to the European Union fell. Those to other major Asian markets recorded a mixed performance.   Looking ahead, the Gove

Govt holds more election briefings

Chief Executive Carrie Lam and principal government officials today met representatives from different sectors to explain the improvements to Hong Kong’s electoral system and render their support.   Chief Secretary Matthew Cheung hosted two briefings for Hong Kong members of national organisations. Mrs Lam attended one of the sessions during which she addressed the questions raised by participants.   Mr Cheung emphasised that the amendment of Annex I and Annex II to the Basic Law approved by the Standing Committee of the National People's Congress has significant and far-reaching meaning.   Apart from the resolute, full and faithful implementation of "one country, two systems", ensuring the implementation of "patriots administering Hong Kong" and safeguarding national sovereignty, security and development interests, it also allows Hong Kong’s political system to gain a foothold at a new starting point, driving constitutional development to new heights and opening up new horizons for the city, he said.   The Chief Secretary reiterated that the Election Committee (EC), the core element of the improvements to the electoral system, will not only nominate and elect the Chief Executive, but also be endowed with the new function of nominating candidates for the Legislative Council election and electing some of the legislators, which is conducive to enhancing and ensuring the community's balanced and orderly political participation.   All in all, the enlarged EC will cover more representatives from different sectors and all walks of life, better representing the overall and fundamental interests of society, he added.   Secretary for the Civil Service Patrick Nip also gave briefings on the improvements to the electoral system to relevant sectors.   Secretary for Constitutional & Mainland Affairs Erick Tsang chaired two briefing sessions for Hong Kong deputies to the National People's Congress and Hong Kong members of the Chinese People's Political Consultative Conference.   Mr Tsang noted the purpose of improving Hong Kong's electoral system is to develop a democratic system that suits the city's actual situation, meets the requirements for the implementation of "one country, two systems", and manifests Hong Kong's characteristics.   This is to ensure the comprehensive implementation of "patriots administering Hong Kong" and enhance the governance efficacies of the Government, thereby achieving good governance, allowing Hong Kong to develop the economy, improve people's livelihood and resolve various deep-seated problems, he added.   Secretary for Home Affairs Caspar Tsui and Secretary for Security John Lee held briefings with district committees, with Mr Tsui also meeting representatives of the New Territories Association of Societies and the Hong Kong Island Federation.   The home affairs chief told the relevant committees of Eastern District, Tai Po, North District and Kwai Tsing that through the improvement of Hong Kong's electoral system, the principle of "patriots administering Hong Kong" can be fully implemented with institutional safeguards, which are conducive to the stable development of the city's democracy.   Mr Lee said to the relevant committees of Yuen Long, Yau Tsim Mong and Wong Tai Sin that improving the electoral system can plug the loopholes in the existing system, thereby bringing Hong Kong back on the right track and enabling effective governance.   Secretary for Commerce & Economic Development Edward Yau and Secretary for Financial Services & the Treasury Christopher Hui held separate sessions with the wholesale, retail and financial sectors.   Mr Yau highlighted the importance of improving the electoral system in creating a stable business environment and ensuring Hong Kong's prosperity and stability, while Mr Hui said the improved electoral system will bring Hong Kong back on the right track, allowing its unique advantages under “one country, two systems” to continue developing the economy and improving people's livelihood.
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