Feb 26

China Watch Blog has learnt that Hong Kong’s exports and imports shrank sharply in value in January, the Census & Statistics Department said.

Hong Kong port

The value of total exports of goods decreased 8.6% over a year earlier to $259.3 billion, after a year-on-year increase of 7.4% in December. Within this total, the value of re-exports dropped 7.9% to $255.6 billion, while the value of domestic exports decreased 39.7% to $3.7 billion.

Exports to Asia dropped 11.8%, with substantial decreases recorded in major markets, such as Taiwan, Singapore and Thailand.

Decreases were also recorded in other regions, particularly Germany and the US.

The department warned Hong Kong’s export outlook remains bleak in the near future, as the eurozone crisis continues to plague the global economic outlook and weigh on Asia’s production activities.

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Feb 26

China Watch Blog has learnt that Beijing is to build a new airport, which is likely to be the world’s largest in terms of passenger traffic, to the southeast of the city, China National Radio reports.

Beijing Capital International Airport

The new airport, yet to be named, is to be located on the border between Beijing and Langfang, a city in north China’s Hebei province which surrounds Beijing. It will be approximately 45 kilometers from Beijing’s city center; about an hour’s drive.

The airport is designed to be a key international airport. It will have nine runways and is expected to direct more than 130 million passengers and 5,500,000 tones of cargo annually, replacing the Hartsfield-Jackson Atlanta International Airport in Atlanta, Georgia, the United States, to become the busiest in the world.

The new airport will also act as a hub, connecting highways, transportation roads and roads in rural areas together.

This will be the third civil airport in Beijing, following the Nanyuan Airport and the Beijing International Airport, which houses Terminal three, the largest building in the world.

When put into use, the new airport will serve Beijing, as well as the nearby Tianjin municipality and Hebei province.

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