Hong Kong's international investment position remains strong with net external financial assets of 4.07 trillion HK dollars (522.06 billion U.S. dollars) at the end of 2007, a government press release said on Tuesday.

According to a press release from Hong Kong Census and Statistics Department, the figure is 41 billion HK dollars (5.26 billion U.S. dollars) up on the same period a year earlier. The figure corresponded to 252 percent of gross domestic product.

The department said that ratios of both Hong Kong's external financial assets and liabilities at end-2007 to GDP remained substantial, at 1,318 percent and 1,066 percent, showing Hong Kong is a highly externally oriented economy with considerable cross- territory investment and also a major financial center in the region with considerable cross-territory fund positions.

Hong Kong's external financial assets amounted to 21.3 trillion HK dollars (2.73 trillion U.S. dollars) at the end of 2007, up 6.3 trillion HK dollars (808.11 billion U.S. dollars) or 42 percent on 2006, with direct investment accounting for 37.6 percent of the total.

Both external financial assets and liabilities rise sharply in the year, showing the generally favorable economic environment and the buoyant performance in many stock markets during the year, the department said.