The gap between China's reported exports to Hong Kong and the shipments registered by the territory widened in December, suggesting currency-market swings may have spurred a fresh round of fake trade invoicing.
China recorded $1.94 of exports to Hong Kong last month for every $1 in imports Hong Kong registered from the mainland, leading to a US$22.3 billion difference between the two data sets, according to Bloomberg calculations. That's the highest gap, in both dollar terms and by ratio, since March 2013.
Tuesday's data from the Hong Kong Government Information Center tallied imports in the territory from the mainland at HK$183.7 billion (US$23.7 billion) in December. On Jan. 13, the Beijing-based Customs General Administration announced December trade data showing shipments to Hong Kong had surged 10.8 percent from a year earlier to US$46 billion.
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