Hong Kong overtook the European Union to become the largest exporter of services to the Chinese mainland for the first time in 2008, a senior official of the Chinese Ministry of Commerce said on Wednesday.
Speaking at an annual service trade promotion event in Hong Kong, Assistant Minister of Commerce Wang Chao said the Hong Kong Special Administrative Region was already the largest importer of services from the mainland even before 2008.
Export of services from the mainland to Hong Kong grew 35.1 percent year on year to 41.9 billion U.S. dollars in 2008, while import of services from Hong Kong to the mainland grew 28.1 percent year on year to hit 26.3 billion U.S. dollars.
The HKSAR government signed the Closer Economic Partnership Arrangement with the central Chinese government in 2003. It was followed by supplementary free trade agreements to expand access to the mainland market for Hong Kong products and services.
Wang said he expected positive growth in service trade between Hong Kong and the mainland for 2009 as a whole despite challenges in the first months.
