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More HZMB private car quotas set

The governments of Hong Kong and Macau have agreed to increase the regular quotas for Hong Kong cross-boundary non-commercial private cars using the Hong Kong-Zhuhai-Macao Bridge to Macau, the Transport Department announced today.   The decision was made to enhance traffic flow between Hong Kong and Macau, better utilising the bridge, the department said.   It will increase the Hong Kong quota by 1,000, following the earlier quota allocation of 1,800 for Hong Kong.   The additional quota will be distributed in two phases from the second quarter.   Half of the additional 1,000 quota allocations is for company applicants and the other half is for individual applicants. The quotas are valid for no more than three years. The eligibility criteria of quota applications remains the same.   Private cars allocated with Hong Kong quotas will be permitted to access the city of Macau multiple times using the bridge.   The Hong Kong quota allotments will be re-allocated upon expiry thro

Mar exports value down 8.9%

The value of Hong Kong’s total goods exports decreased to $372.8 billion in March, down 8.9% compared with the same month last year, the Census & Statistics Department announced today.   The value of imports of goods fell 6% to $410 billion for the same period.   A trade deficit of $37.3 billion, or 9.1% of the value of imports, was recorded for the month.   Comparing the first quarter this year with the preceding quarter on a seasonally adjusted basis, the value of total exports decreased 2.9%, while that of imports fell 1.8%.   The Government said the value of merchandise exports turned to a year-on-year decrease in March amid moderating external demand and epidemic-induced disruptions to cross-boundary cargo flows between the Mainland and Hong Kong. A high base of comparison was also relevant.   Exports to the Mainland and the EU fell while those to the US posted decelerated growth. Exports to other major Asian markets saw mixed performance.   Looking ahead, elevated global inflation, major central banks’ monetary policy tightening, as well as heightened geopolitical tensions will continue to weigh on the global economic outlook, posing challenges to Hong Kong’s export performance.   Nonetheless, the stabilised local epidemic of late should be conducive to the gradual alleviation of cross-boundary transportation disruptions, thus rendering some support, the Government added.
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