Author Archives: hksar gov

     The Census and Statistics Department (C&SD) released today (July 20) the results of the Quarterly Business Tendency Survey for the third quarter (Q3) of 2018.

Business situation

     For all surveyed sectors taken together, the proportion of respondents expecting their business situation to be better (14%) in Q3 2018 over Q2 2018 is higher than that expecting it to be worse (8%).

     When compared with the results of the Q2 2018 survey round, the proportion of respondents expecting a worse business situation in Q3 2018 as compared with the preceding quarter has slightly decreased to 8%, against the corresponding proportion of 9% in Q2 2018.

     Analysed by sector, more respondents in the manufacturing, financing and insurance, and information and communications sectors expect their business situation to be better in Q3 2018 as compared with Q2 2018, relative to those expecting a worse business situation. In the construction sector and accommodation and food services sector, however, more respondents expect their business situation to be worse, as compared to those expecting a better business situation.

     A Government spokesman cautioned that the results of the survey should be interpreted with care. He said, “In this type of survey on expectations, the views collected in the survey are affected by the events in the community occurring around the time of enumeration, and it is difficult to establish precisely the extent to which respondents’ perception of the future accords with the underlying trends.” The enumeration period for this survey round was from June 4, 2018, to July 13, 2018.

Volume of business/output

     Respondents in most of the surveyed sectors expect their volume of business/output to increase on balance in Q3 2018 as compared with Q2 2018. In particular, more respondents in the financing and insurance; construction; transportation, storage and courier services; manufacturing; and information and communications sectors expect their volume of business/output to increase, as compared to those expecting it to decrease.

Employment

     Respondents in quite a number of the surveyed sectors expect their employment to increase on balance in Q3 2018 as compared with Q2 2018. More respondents in the financing and insurance; construction; accommodation and food services; retail; and transportation, storage and courier services sectors expect their employment to increase in Q3 2018 over Q2 2018.

Selling price/service charge

     Respondents in most of the surveyed sectors expect their selling prices/service charges to remain broadly unchanged or to go up on balance in Q3 2018 as compared with Q2 2018. In particular, more respondents in the retail sector and transportation, storage and courier services sector expect their selling prices/service charges to go up.

Further information

     The survey gathers views on short-term business performance from the senior management of about 560 prominent establishments in various sectors in Hong Kong with a view to providing a quick reference, with minimum time lag, for predicting the short-term future economic performance of the local economy.

     The survey covers 10 major sectors in Hong Kong, namely manufacturing; construction; import/export trade and wholesale; retail; accommodation and food services (mainly covering services rendered by hotels and restaurants); transportation, storage and courier services; information and communications; financing and insurance; real estate; and professional and business services sectors.

     Views collected in the survey refer only to those of respondents on their own establishments rather than those on the respective sectors they are engaged in, and are limited to the expected direction of quarter-to-quarter change (e.g. “up”, “same” or “down”) but not the magnitude of change. In collecting views on the quarter-to-quarter changes, if the variable in question is subject to seasonal variations, respondents are asked to provide the expected changes after excluding the normal seasonal variations.

     Survey results are generally presented as “net balance”, i.e. the difference between the percentage of respondents choosing “up” and that choosing “down”. The percentage distribution of respondents among various response categories (e.g. “up”, “same” and “down”) reflects how varied their business expectations are. The “net balance”, with its appropriate sign, indicates the direction of expected change in the variable concerned. A positive sign indicates a likely upward trend while a negative sign indicates a likely downward trend. However, the magnitude of the “net balance” reflects only the prevalence of optimism or pessimism, but not the magnitude of expected change, since information relating to such magnitude is not collected in the survey.

     Furthermore, owing to sample size constraint, care should be taken in interpreting survey results involving a small percentage (e.g. less than 10%) of respondents in individual sectors.

     Chart 1 shows the views on expected changes in business situation for the period Q3 2017 to Q3 2018.

     Table 1 shows the net balances of views on expectations in respect of different variables for Q3 2018.

     The survey results are published in greater detail in the “Report on Quarterly Business Tendency Survey, Q3 2018”. Users can download the publication free of charge at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/sp300.jsp?productCode=B1110008).

     Users who have enquiries about the survey results may contact the Business Expectation Statistics Section of the C&SD (Tel: 3903 7263 or email: business-prospects@censtatd.gov.hk). read more

     The Secretary for the Civil Service, Mr Joshua Law, visited the Innovation and Technology Commission today (July 20) to learn more about the work of the department and meet with staff of various grades to exchange views on matters of concern.
 
     Accompanied by the Permanent Secretary for the Civil Service, Mr Thomas Chow, Mr Law met with the Commissioner for Innovation and Technology, Ms Annie Choi, and the directorate staff to get an update on the department’s work in promoting the development of innovation and technology.
 
     Mr Law then toured the Standards and Calibration Laboratory, which serves as the custodian of Hong Kong’s reference standards of physical measurements. It also provides comprehensive calibration services to ensure that measurements made in Hong Kong are traceable to the International System of Units.
 
     He also toured the Hong Kong Accreditation Service to learn more about its work, which includes improving the standard of local conformity assessment services and providing a wide range of accreditation services to support the development of the industry.
 
     Mr Law later visited the Product Standards Information Bureau to learn about how colleagues assist local enterprises to comply with related requirements in their manufacturing, exports and provision of services so as to enhance quality and competitiveness.
 
     He said he was pleased to note that metrology, accredited conformity assessment service and standards together support the production of safe, fit-for-use and high-quality goods and services throughout the global supply chain. This not only protects public health and safety, but also drives innovation and technology development.
 
     Before concluding his visit, Mr Law met with staff representatives of various grades at a tea gathering to exchange views on matters that concerned them. He commended colleagues for their professionalism, and encouraged them to continue to contribute to innovation and technology development.

  

     Police today (July 20) appealed to the public for information on a man who went missing in Ma On Shan.      Tam Wai-lun, aged 33, went missing after he left his residence in Yiu On Estate yester… read more

     The effective exchange rate index for the Hong Kong dollar on Friday, July 20, 2018 is 103.8 (up 0.1 against yesterday’s index). read more

     The Transport Department today (July 20) announced that the auction of traditional vehicle registration marks will be held on August 4 (Saturday), in Meeting Room S421, L4, Hong Kong Convention and Exhibition Centre, Wan Chai.
 
     “A total of 280 vehicle registration marks will be put up for public auction. The list of marks has been posted at the department’s website, www.td.gov.hk,” a department spokesman said.
 
     Applicants who have paid a deposit of $1,000 to reserve a mark for auction should also participate in the bidding (including the first bid at the reserve price of $1,000). Otherwise, the mark may be sold to another bidder at the reserve price.
 
     People who wish to participate in the bidding at the auction should take note of the following important points:
 
(a) Successful bidders are required to produce the following documents for completion of registration and payment procedures immediately after the successful bidding:
(1) the identity document of the successful bidder;
(2) the identity document of the purchaser if it is different from the successful bidder;
(3) a copy of the Certificate of Incorporation if the purchaser is a body corporate; and
(4) a crossed cheque made payable to “The Government of the Hong Kong Special Administrative Region” or “The Government of the HKSAR”. (For an auctioned mark paid for by cheque, the first three working days after the date of auction will be required for cheque clearance confirmation before processing of the application for mark assignment can be completed.) Successful bidders can also pay through the Easy Pay System (EPS). Payment by post-dated cheques, cash or other methods will not be accepted.
 
(b) Purchasers must make payment of the purchase price through EPS or by crossed cheque and complete the Memorandum of Sale of Registration Mark immediately after the bidding. Subsequent alteration of the particulars in the memorandum will not be permitted.
 
(c) A vehicle registration mark can only be assigned to a motor vehicle which is registered in the name of the purchaser. The Certificate of Incorporation must be produced immediately by the purchaser if a vehicle registration mark purchased is to be registered under the name of a body corporate.
 
(d) Special registration marks are non-transferable. Where the ownership of a motor vehicle with a special registration mark is transferred, the allocation of the special registration mark shall be cancelled.
 
(e) The purchaser shall, within 12 months after the date of auction, apply to the Commissioner for Transport for the registration mark to be assigned to a motor vehicle registered in the name of the purchaser. If the purchaser fails to assign the registration mark within 12 months, allocation of the mark will be cancelled and arranged for re-allocation in accordance with the statutory provision without prior notice to the purchaser.
 
     For other auction details, please refer to the Guidance Notes – Auction of Vehicle Registration Marks, which can be downloaded from the department’s website, www.td.gov.hk. read more