Table 2: International Investment Position by Standard Component
  (position as at end of period)
       
      HK$ million
Standard Component 2000 2001 2002
Assets 8,899,295 8,350,623 8,024,646
   Direct investment abroad 3,027,809 2,749,237 2,375,752
      Equity capital and reinvested earnings 2,472,154 2,204,771 1,872,837
         Claims on affiliated enterprises 2,472,154 2,204,771 1,872,837
         Liabilities to affiliated enterprises ... ... ...
      Other capital 555,654 544,466 502,915
         Claims on affiliated enterprises 735,820 776,439 736,649
         Liabilities to affiliated enterprises -180,165 -231,973 -233,734
   Portfolio investment 1,394,320 1,603,059 1,903,241
      Equity securities 688,581 737,717 746,434
         Banks 548 512 536
         Other sectors 688,033 737,205 745,897
      Debt securities 705,739 865,342 1,156,808
         Bonds and notes 524,023 669,585 963,268
            Banks 327,111 459,213 663,758
            Other sectors 196,912 210,372 299,510
         Money market instruments 181,716 195,757 193,540
            Banks 164,918 167,265 166,653
            Other sectors 16,799 28,493 26,887
   Financial derivatives 131,063 136,672 170,070
      Banks 123,152 128,498 154,054
      Other sectors 7,911 8,174 16,016
   Other investment 3,507,266 2,994,734 2,702,778
      Trade credits 31,434 45,785 58,088
      Loans 648,886 450,881 408,489
         Banks 599,188 357,827 356,973
         Other sectors 49,699 93,054 51,516
      Currency and deposits 2,782,776 2,451,964 2,197,794
         Banks 2,455,796 2,115,542 1,836,154
         Other sectors 326,980 336,422 361,639
      Other assets 44,169 46,103 38,408
         Banks 10,066 9,180 9,194
         Other sectors 34,103 36,923 29,213
   Reserve assets 838,839 866,922 872,805

Liabilities
7,169,749
6,282,662
5,378,571
   Direct investment in Hong Kong 3,550,840 3,269,653 2,643,871
      Equity capital and reinvested earnings 3,134,592 2,765,016 2,185,591
         Claims on direct investors ... ... ...
         Liabilities to direct investors 3,134,592 2,765,016 2,185,591
      Other capital 416,248 504,637 458,280
         Claims on direct investors -104,029 -97,324 -89,172
         Liabilities to direct investors 520,277 601,961 547,452
   Portfolio investment 1,194,477 912,493 727,408
      Equity securities 1,076,454 801,787 618,299
         Banks 63,165 50,031 44,774
         Other sectors 1,013,290 751,756 573,525
      Debt securities 118,023 110,706 109,109
         Bonds and notes 74,948 63,038 79,382
            Banks 27,719 23,242 33,996
            Other sectors 47,229 39,796 45,385
         Money market instruments 43,075 47,668 29,728
            Banks 21,168 24,936 24,576
            Other sectors 21,907 22,731 5,152
   Financial derivatives 97,582 94,022 157,997
      Banks 92,904 90,240 152,089
      Other sectors 4,678 3,783 5,907
   Other investment 2,326,849 2,006,494 1,849,295
      Trade credits 16,539 23,524 30,488
      Loans 271,329 269,070 161,191
         Banks 152,272 105,292 50,758
         Other sectors 119,057 163,778 110,434
      Currency and deposits 2,021,862 1,693,371 1,628,478
         Banks 2,019,923 1,693,037 1,627,560
         Other sectors 1,939 334 918
      Other liabilities 17,119 20,530 29,137
         Banks 3,018 4,194 4,974
         Other sectors 14,102 16,335 24,164

Net International Investment Position(1)
1,729,547
2,067,961
2,646,076
Notes: ... Value is relatively insignificant (less than HK$10 million).
  (1) Net international investment position is the difference between total external financial assets and total external financial liabilities.