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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

No fees for loan scheme

Banks participating in the 100% Personal Loan Guarantee Scheme will aid loan applicants without levying any application or handling fee, and borrowers should not make applications via a third party, HKMC Insurance said today.   It made the statement in response to a news report about some people claiming to help those who are unemployed make applications for the scheme using false instruments at a handling fee.   Participating banks will try their best to assist applicants, it said, adding that borrowers who pay any fees to a third party will suffer a direct financial loss.   The statement said banks reviewing loan applications will exercise professional expertise, judgement and care to conduct customer due diligence and verify borrowers' eligibility. HKMC Insurance will also conduct checks and strive to ensure approved applications meet the requirements.   Any suspected illicit behaviour such as producing false declarations or using false instruments will be reported to law enforcement agencies, it noted.   Call participating banks or the loan guarantee scheme hotline at 2536 0392 for enquiries.
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