The Secretary for Housing, Ms Winnie Ho, together with a delegation of the Housing Department (HD) and the Legislative Council (LegCo) Panel on Housing, continued their visit to Shenzhen today (July 22).
 
     Accompanied by the Director-General of the Department of Housing and Urban-Rural Development of Guangdong Province, Mr Zhang Yong, and the Director of the Housing Indemnification Division of the Housing and Construction Bureau of Shenzhen Municipality (HCBSM), Ms Qiu Yingying, the delegation visited two public rental housing projects in Shenzhen this morning. The design and planning of Guangqiao Yayuan fully utilised the land, with common facilities fostering intergenerational and community harmony provided in the estate. Phoenix Yinghui Town is currently the largest public housing project on the Mainland adopting the Design for Manufacture and Assembly (DfMA) approach. The project also adopted a series of smart property management technologies, such as intelligent surveillance system and smart lamp posts, to enhance daily management efficiency.
 
     The delegation then visited the Shenzhen Indemnificatory Housing Exhibition Hall to learn about the development, planning and design of indemnificatory housing in Shenzhen. They subsequently met with the Party Secretary and Director-General of the HCBSM, Mr Zhu Enping, and representatives of the Shenzhen Public Housing Group (SZPHG) to have a comprehensive exchange on public housing policies, its design and construction as well as operation and management. The SZPHG is managed directly by the State-owned Assets Supervision and Administration Commission of Shenzhen Municipal People's Government, and handles all aspects of indemnificatory housing in Shenzhen, from planning and construction to rental, operation, management and housing finance.
 
     Ms Ho said that public housing by the Hong Kong Housing Authority is people-oriented. To continuously enhance the management efficiency and service quality of its nearly 200 public housing estates, the HD has been actively promoting smart estate management and bringing in new technologies to help optimise estate management services. She looked forward to have closer exchanges with the Guangdong-Hong Kong-Macao Greater Bay Area cities on the construction and management of public housing, with a view to sharing and learning from each other's experiences.
 
     The delegation visited the Double-line Park (Coastal Bridge) in Baoan Central District in the afternoon to see its user-friendly design that connects the communities and blends nature, art and culture. The delegation will return to Hong Kong this evening after the visit.

                  

     The Census and Statistics Department (C&SD) released today (July 22) the Consumer Price Index (CPI) figures for June 2024. According to the Composite CPI, overall consumer prices rose by 1.5% in June 2024 over the same month a year earlier, larger than the corresponding increase (1.2%) in May 2024. The larger increase in June 2024 was mainly due to the decrease in the Government's provision of electricity charges subsidy compared to the same month last year. Netting out the effects of all Government's one-off relief measures, the year-on-year rate of increase in the Composite CPI (i.e. the underlying inflation rate) in June 2024 was 1.0%, the same as that in May 2024. 

     On a seasonally adjusted basis, the average monthly rate of change in the Composite CPI for the 3-month period ending June 2024 was 0.0%, and that for the 3-month period ending May 2024 was -0.2%. Netting out the effects of all Government's one-off relief measures, the corresponding rates of increase were both 0.1%.
    
     Analysed by sub-index, the year-on-year rates of increase in the CPI(A), CPI(B) and CPI(C) were 1.7%, 1.3% and 1.3% respectively in June 2024, as compared to 1.2%, 1.1% and 1.2% respectively in May 2024. Netting out the effects of all Government's one-off relief measures, the year-on-year rates of increase in the CPI(A), CPI(B) and CPI(C) were 0.9%, 1.0% and 1.2% respectively in June 2024, as compared to 0.9%, 1.1% and 1.2% respectively in May 2024.
    
     On a seasonally adjusted basis, for the 3-month period ending June 2024, the average monthly rates of change in the CPI(A), CPI(B) and CPI(C) were -0.1%, 0.0% and 0.0% respectively. The corresponding rates of change for the 3-month period ending May 2024 were -0.3%, -0.2% and -0.1% respectively. Netting out the effects of all Government's one-off relief measures, the average monthly rates of change in the seasonally adjusted CPI(A), CPI(B) and CPI(C) for the 3-month period ending June 2024 were 0.2%, 0.1% and 0.1% respectively, and the corresponding rates of change for the 3-month period ending May 2024 were 0.2%, 0.1% and 0.0% respectively. 

     Amongst the various components of the Composite CPI, year-on-year increases in prices were recorded in June 2024 for alcoholic drinks and tobacco (22.0%), meals out and takeaway food (2.7%), miscellaneous services (2.5%), transport (1.7%), housing (1.1%), miscellaneous goods (0.5%), basic food (0.5%), and electricity, gas and water (0.1%).

     On the other hand, year-on-year decreases in the components of the Composite CPI were recorded in June 2024 for durable goods (-0.6%), and clothing and footwear (-0.6%). 

     For the first half of 2024 as a whole, the Composite CPI rose by 1.6% over a year earlier. The respective increases in the CPI(A), CPI(B) and CPI(C) were 1.8%, 1.5% and 1.5% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 1.0%, 0.8%, 1.0% and 1.2% respectively.

     In the second quarter of 2024, the Composite CPI rose by 1.2% over a year earlier, while the CPI(A), CPI(B) and CPI(C) rose by 1.4%, 1.2% and 1.2% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 1.0%, 0.9%, 1.0% and 1.1% respectively.

     For the 12 months ending June 2024, the Composite CPI was on average 1.9% higher than that in the preceding 12-month period. The respective increases in the CPI(A), CPI(B) and CPI(C) were 2.1%, 1.8% and 1.8% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 1.3%, 1.2%, 1.3% and 1.5% respectively.

Commentary

     A Government spokesman said that underlying consumer price inflation stayed modest in June. Prices of meals out and takeaway food recorded relatively fast increases over a year earlier, while those of basic food saw modest growth. Prices of energy-related items continued to decrease visibly. Price pressures on other major components remained broadly in check.

     Looking ahead, overall inflation should stay mild in the near term. Domestic cost may face some upward pressures as the Hong Kong economy continues to grow. Meanwhile, external price pressures should remain on a broad moderating trend, though geopolitical tensions may bring uncertainties. The Government will continue to monitor the situation.

Further information

     The CPIs and year-on-year rates of change at section level for June 2024 are shown in Table 1. The time series on the year-on-year rates of change in the CPIs before and after netting out the effects of all Government's one-off relief measures are shown in Table 2. For discerning the latest trend in consumer prices, it is also useful to look at the changes in the seasonally adjusted CPIs. The time series on the average monthly rates of change during the latest 3 months for the seasonally adjusted CPIs are shown in Table 3. The rates of change in the original and the seasonally adjusted Composite CPI and the underlying inflation rate are presented graphically in Chart 1.

     More detailed statistics are given in the "Monthly Report on the Consumer Price Index". Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1060001&scode=270).

     For enquiries about the CPIs, please contact the Consumer Price Index Section of the C&SD (Tel: 3903 7374 or email: cpi@censtatd.gov.hk).

     Hong Kong Customs on June 28 seized about 7 400 suspected counterfeit goods and eight litres of suspected duty-not-paid liquor at the Tuen Mun River Trade Terminal Customs Cargo Examination Compound. The total estimated market value was about $1.5 million, with a duty potential of about $70,000.

     Through risk assessment, Customs on that day inspected a 40-foot container, declared as carrying food, clothes and footwear and arriving in Hong Kong from Nansha, Guangdong. After the inspection, Customs officers found the batch of suspected counterfeit goods, including clothing, footwear, handbags and belts, and the batch of suspected duty-not-paid liquor inside the container.

     An initial investigation revealed that the batch of suspected counterfeit goods and suspected duty-not-paid liquor would be transhipped to overseas regions. 

     The investigation is ongoing. 

     Customs will continue to take stringent enforcement action against cross-boundary counterfeit goods activities based on risk assessment and intelligence analysis and combat illicit liquor activities by interception at source for the protection of revenue.

     Under the Trade Descriptions Ordinance, any person who imports or exports any goods to which a forged trademark is applied commits an offence. The maximum penalty upon conviction is a fine of $500,000 and imprisonment for five years. 

     Under the Dutiable Commodities Ordinance, anyone involved in dealing with, possession of, selling or buying illicit liquor commits an offence. The maximum penalty upon conviction is a fine of $1 million and imprisonment for two years.

     Members of the public may report any suspected violation of the above-mentioned Ordinances to Customs' 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

  

     The effective exchange rate index for the Hong Kong dollar on Monday, July 22, 2024 is 106.4 (same as last Saturday's index).

     The effective exchange rate index for the Hong Kong dollar on Saturday, July 20, 2024 was 106.4 (up 0.1 against last Friday's index).

     In response to the Japanese Government's plan to discharge nuclear-contaminated water at the Fukushima Nuclear Power Station, the Director of Food and Environmental Hygiene issued a Food Safety Order which prohibits all aquatic products, sea salt and seaweeds originating from the 10 metropolis/prefectures, namely Tokyo, Fukushima, Ibaraki, Miyagi, Chiba, Gunma, Tochigi, Niigata, Nagano and Saitama, from being imported into and supplied in Hong Kong.
 
     For other Japanese aquatic products, sea salt and seaweeds that are not prohibited from being imported into Hong Kong, the Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department will conduct comprehensive radiological tests to verify that the radiation levels of these products do not exceed the guideline levels before they are allowed to be supplied in the market.
 
     As the discharge of nuclear-contaminated water is unprecedented and will continue for 30 years or more, the Government will closely monitor and step up the testing arrangements. Should anomalies be detected, the Government does not preclude further tightening the scope of the import ban.
 
     From noon on July 19 to noon today (July 22), the CFS conducted tests on the radiological levels of 415 food samples imported from Japan, which were of the "aquatic and related products, seaweeds and sea salt" category, in the past three days (including last Saturday and Sunday). No sample was found to have exceeded the safety limit. Details can be found on the CFS's thematic website titled "Control Measures on Foods Imported from Japan" (www.cfs.gov.hk/english/programme/programme_rafs/programme_rafs_fc_01_30_Nuclear_Event_and_Food_Safety.html).
 
     In parallel, the Agriculture, Fisheries and Conservation Department (AFCD) has also tested 150 samples of local catch for radiological levels. All the samples passed the tests. Details can be found on the AFCD's website (www.afcd.gov.hk/english/fisheries/Radiological_testing/Radiological_Test.html).
 
     The Hong Kong Observatory (HKO) has also enhanced the environmental monitoring of the local waters. No anomaly has been detected so far. For details, please refer to the HKO's website
(www.hko.gov.hk/en/radiation/monitoring/seawater.html).
 
     From August 24 to noon today, the CFS and the AFCD have conducted tests on the radiological levels of 69 756 samples of food imported from Japan (including 44 872 samples of aquatic and related products, seaweeds and sea salt) and 16 544 samples of local catch respectively. All the samples passed the tests.