Hong Kong's GDP Grows 11.7 Per Cent
Hong Kong's gross domestic product for 2007 is estimated at HKD447.2 bn, the Census and Statistics Department of the Hong Kong Special Administrative Region said in a statement. This is an increase of 11.7 per cent compared to 2006. In the fourth quarter of 2007, Hong Kong's GDP increased 14.6 per cent, to HKD465.3 bn.
China Increases Reserve Ratio Again
China's Central Bank will require commercial banks to deposit 15.5 per cent of RMB deposits from 25 March. This is a rise of 0.5 per cent, and the second increase so this year - with more expected. The stated goal is to control liquidity and investments, although this failed during several reserve ratio rate rises during 2007.
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