IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

Chinese Outward Investment in Hong Kong: Trends, Prospects and Policy Implications

Listed author(s):
  • Yun-Wing Sung
Registered author(s):

    Over the last decade, China has been the leading investor among developing countries and Hong Kong is the foremost destination of Chinese investment. However, China’s outward investment has been grossly understated in official statistics due to avoidance of China’s foreign exchange controls. This paper tries to appraise those investment flows both quantitatively and qualitatively. It examines the many estimates of Chinese investment in Hong Kong, tracing their sources and bases of estimation. Most of these estimates are found to be crude guesses with very little empirical support. However, from the data on asset value and market capitalisation of listed Chinese companies in Hong Kong, and also from interviews with knowledgeable sources, it is possible to gauge the rough size of Chinese investment in Hong Kong. The paper also examines China’s economic presence in major sectors of the Hong Kong economy. It discusses the composition of Chinese investment by industry and by ownership ... Depuis une dizaine d’années, la Chine est le premier investisseur parmi les pays en développement, et Hong Kong la première destination des investissements chinois. Toutefois, en raison de la sous-déclaration liée à la fraude du contrôle des changes, les statistiques officielles sous-estiment largement les flux d’investissement extérieur de la Chine. Ce document technique tente d’évaluer le montant de ces flux d’investissement et d’en décrire la nature. Il recense les nombreuses estimations des investissements chinois vers Hong Kong, en identifiant leurs sources, ainsi que les informations sur lesquelles elles sont fondées. Il apparaît que la plupart de ces estimations sont des approximations grossières, établies sur la base de données très incomplètes. Néanmoins, il est possible d’évaluer le niveau de ces investissements d’après la valeur des actifs des entreprises chinoises à Hong Kong et leur capitalisation boursière, ainsi que sur la base d’entretiens avec des interlocuteurs ...

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    Download Restriction: no

    Paper provided by OECD Publishing in its series OECD Development Centre Working Papers with number 113.

    in new window

    Date of creation: 01 Jul 1996
    Handle: RePEc:oec:devaaa:113-en
    Contact details of provider: Postal:
    2 rue Andre Pascal, 75775 Paris Cedex 16

    Phone: 33-(0)-1-45 24 82 00
    Fax: 33-(0)-1-45 24 85 00
    Web page:

    More information through EDIRC

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:oec:devaaa:113-en. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.