The Transport Department today (November 29) reminded members of the public that since the Cross-Harbour Tunnel (CHT) has reopened and traffic has generally returned to normal, the two routes of special free ferry services between Kowloon City and Wan Chai and between Hung Hom and Wan Chai provided for the closure of the CHT will cease operation tonight. The last ferry departure will be at 7pm.

The following is issued on behalf of the Hospital Authority:
 
     The Hospital Authority today (November 29) published the latest issue of the biannual Medication Safety Bulletin (MSB). This issue highlights the safe application of two drugs, including the risk minimisation measures of valproate to help patients understand the possible harmful effects to the foetus while taking the medication and the proper dosage of methotrexate for different types of patients as well as its global targeted medication safety best practice.  
 
     This issue also describes the experience of Kowloon West Cluster in using the Inpatient Medication Entry to facilitate correct prescribing of insulin infusions.
 
     The publication has already been posted on the web for sharing with healthcare professionals. Members of the public are also welcome to browse it at the following link: www.ha.org.hk/msb. MSB is published every six months, on the last Fridays of May and November. The next issue will be published on May 29, 2020.

     According to the results of the 2018 Annual Survey of Economic Activities – Import/Export, Wholesale and Retail Trades, and Accommodation and Food Services Sectors released today (November 29) by the Census and Statistics Department (C&SD), total receipts (i.e. sales and other receipts) of the import/export, wholesale and retail trades, and accommodation and food services sectors amounted to $5,394.5 billion in 2018, representing an increase of 7.0% compared with 2017; on a per establishment basis, total receipts increased by 6.6% compared with 2017 to $35.3 million in 2018.

     Operating expenses, cost of goods sold and compensation of employees of the above sectors altogether amounted to $4,985.1 billion in 2018, representing an increase of 6.9% compared with 2017; on a per establishment basis, they altogether increased by 6.6% compared with 2017 to $32.6 million in 2018.

     Gross surplus of the sectors, which is equal to total receipts less operating expenses, cost of goods sold and compensation of employees, increased by 8.2% compared with 2017 to $409.5 billion in 2018; on a per establishment basis, gross surplus was $2.7 million in 2018, which increased by 7.8% compared with 2017. For all these sectors taken together, gross surplus accounted for 7.6% of total receipts in 2018, which was similar to that in 2017.

     Value added of the sectors, which is a measure of their total contribution to Hong Kong's Gross Domestic Product, amounted to $683.1 billion in 2018, which increased by 5.8% compared with 2017; on a per establishment basis, value added was $4.5 million in 2018, which increased by 5.4% compared with 2017. 

     According to the survey results, it was estimated that the aforementioned sectors comprised some 153 000 establishments and engaged about 1 095 600 persons, or an average of 7.2 persons per establishment, in 2018.

     In the import/export trade, total receipts amounted to $4,261.1 billion while operating expenses, cost of goods sold and compensation of employees totalled $3,930.1 billion in 2018. Gross surplus increased from $305.9 billion in 2017 to $330.9 billion in 2018, accounting for 7.8% of total receipts in 2018. Value added increased by 4.5% compared with 2017 to $478.3 billion.

     In the wholesale trade, total receipts amounted to $324.2 billion while operating expenses, cost of goods sold and compensation of employees totalled $315.3 billion in 2018. Gross surplus increased from $8.1 billion in 2017 to $8.9 billion in 2018, accounting for 2.7% of total receipts in 2018. Value added increased by 7.6% compared with 2017 to $23.6 billion.

     In the retail trade, total receipts amounted to $600.8 billion while operating expenses, cost of goods sold and compensation of employees totalled $559.2 billion in 2018. Gross surplus increased from $39.2 billion in 2017 to $41.6 billion in 2018, accounting for 6.9% of total receipts in 2018. Value added increased by 7.0% compared with 2017 to $89.9 billion.

     In the accommodation services sector which covers hotels, guesthouses, boarding houses and other establishments providing short term accommodation, total receipts amounted to $51.0 billion while operating expenses, cost of goods sold and compensation of employees totalled $34.0 billion in 2018. Gross surplus increased from $14.7 billion in 2017 to $17.0 billion in 2018, accounting for 33.3% of total receipts in 2018. Value added increased by 13.1% compared with 2017 to $32.2 billion.

     In the food services sector which mainly covers restaurants, total receipts amounted to $157.5 billion while operating expenses, cost of goods sold and compensation of employees totalled $146.5 billion in 2018. Gross surplus increased from $10.5 billion in 2017 to $11.0 billion in 2018, accounting for 7.0% of total receipts in 2018. Value added increased by 10.0% compared with 2017 to $59.1 billion.

     Selected statistics for the import/export, wholesale and retail trades, and accommodation and food services sectors in 2017 and 2018 are shown in the attached table.

     More detailed survey results on the import/export, wholesale and retail trades, and accommodation and food services sectors will be given in the report "Key Statistics on Business Performance and Operating Characteristics of the Import/Export, Wholesale and Retail Trades, and Accommodation and Food Services Sectors in 2018". Users can download this report (in PDF format) free of charge at the website of C&SD (www.censtatd.gov.hk/hkstat/sub/sp320.jsp?productCode=B1080014) as from end-December 2019.

     Users who have enquiries about the survey results may contact the Distribution Services Statistics Section of the C&SD (Tel: 3903 7399; email: asw@censtatd.gov.hk).

     According to the results of the 2018 Annual Survey of Economic Activities – Building, Construction and Real Estate Sectors released today (November 29) by the Census and Statistics Department (C&SD), the construction sector's total receipts (comprising gross value of construction works performed and other business receipts) amounted to $421.7 billion in 2018, representing an increase of 0.8% over 2017; on a per establishment basis, total receipts was $16.0 million in 2018, decreased by 5.3% compared with 2017.

     Operating expenses and compensation of employees of the construction sector altogether amounted to $385.3 billion in 2018, representing an increase of 2.0% over 2017; on a per establishment basis, they were $14.6 million in 2018, decreased by 4.1% compared with 2017.

     Gross surplus of the construction sector, which is equal to total receipts less operating expenses and compensation of employees, decreased by 10.9% compared with 2017 to $36.4 billion in 2018; on a per establishment basis, gross surplus decreased by 16.2% compared with 2017, to $1.4 million in 2018. Gross surplus accounted for 8.6% of total receipts in 2018, down by 1.1 percentage points compared with 2017.

     Value added of the construction sector, which is a measure of its contribution to Hong Kong's Gross Domestic Product, decreased by 7.4% compared with 2017 to $123.0 billion in 2018; on a per establishment basis, the value added was $4.7 million in 2018, representing a decrease of 12.9% compared with 2017.

     In 2018, there were some 26 400 establishments in the construction sector, which directly engaged about 192 000 persons, or an average of 7.3 persons per establishment.

     The survey did not cover labour-only sub-contractors that mainly supplied labour to work on a job-to-job basis, owing to practical consideration in data collection. The employment figures above mainly covered direct employees of the construction establishments and did not reflect the labour input through the sub-contracting activities of labour-only sub-contractors.

     Apart from the construction sector, the survey also enumerated establishments engaged in real estate activities; and architectural, surveying and engineering services.

     Total receipts (comprising gross margin of real estate development projects, service and rental income and other business receipts) of establishments engaged in the real estate activities (including real estate development, real estate leasing, real estate brokerage and agency and real estate maintenance management) amounted to $217.6 billion in 2018, representing an increase of 7.8% over 2017. Operating expenses and compensation of employees altogether amounted to $88.5 billion in 2018, representing an increase of 7.9% over 2017. Gross surplus increased by 9.6% over 2017 to $122.3 billion in 2018. Gross surplus accounted for 56.2% of total receipts in 2018, up by 0.9 percentage point over 2017. Value added decreased by 4.7% compared with 2017 to $138.5 billion in 2018.

     In 2018, the real estate activities comprised 9 900 establishments and engaged about 116 500 persons, or an average of 11.8 persons per establishment.

     The total number of private real estate projects ever operated in 2018 was 320. As at end-2018, 283 projects, which were expected to provide a total 8.1 million square metres of gross floor area of buildings when completed, were still under construction. Among them, 15% were on Hong Kong Island, 23% in Kowloon and 61% in the New Territories and outlying islands.

     The survey excluded establishments which developed real estate projects for their own use as well as those which owned land but had not developed it during the reference year. Real estate leasing and other related activities undertaken by individuals or firms which engaged less than two persons (except for subsidiaries of real estate enterprises) were also not covered in the survey.

     Total receipts (comprising service income and other business receipts) of establishments engaged in the architectural, surveying and engineering services amounted to $23.1 billion in 2018, representing an increase of 4.8% over 2017. Operating expenses and compensation of employees altogether amounted to $21.0 billion in 2018, representing an increase of 5.1% over 2017. Gross surplus increased by 1.9% over 2017 to $2.1 billion in 2018. Gross surplus accounted for 9.1% of total receipts in 2018, slightly down by 0.3 percentage point compared with 2017. Value added increased by 2.9% over 2017 to $16.1 billion in 2018.

     In 2018, the architectural, surveying and engineering services comprised some 2 300 establishments and engaged about 27 800 persons, or an average of 12.3 persons per establishment.

     Selected statistics for the building, construction and real estate sectors, with breakdowns by industry grouping, are shown in the attached table.
 
     More detailed survey results on the building, construction and real estate sectors will be given in the report "Key Statistics on Business Performance and Operating Characteristics of the Building, Construction and Real Estate Sectors in 2018". Users can download this report free of charge at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/sp330.jsp?productCode=B1080011) as from end-December 2019.

     For enquiries about the key statistics on business performance and operating characteristics of the building, construction and real estate sectors, please contact the Construction and Miscellaneous Services Statistics Section of the C&SD at telephone 3903 6964 or email building@censtatd.gov.hk.

     The Government announced today (November 29) its financial results for the seven months ended October 31, 2019.
 
     Expenditure for the period April to October 2019 amounted to HK$327 billion and revenue HK$201.3 billion, resulting in a cumulative year-to-date deficit of HK$119.4 billion after receipt of net proceeds of HK$7.8 billion from issuance of green bonds under the Government Green Bond Programme (Green Bond) and repayment of institutional notes of HK$1.5 billion.
 
     A government spokesperson said that the cumulative year-to-date deficit for the period was mainly due to the fact that some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year.
 
     The fiscal reserves stood at HK$1,051.5 billion as at October 31, 2019.
 
     Detailed figures are shown in Tables 1 and 2.
 
TABLE 1. CONSOLIDATED ACCOUNT (Note 1)
 

Government Debts as at October 31, 2019 (Note 3)
    HK$7,838 million
Debts Guaranteed by Government as at October 31, 2019 (Note 4)
    HK$27,988.3 million

TABLE 2. FISCAL RESERVES
 

Notes:

1. This Account consolidates the General Revenue Account and the following eight Funds: Capital Works Reserve Fund, Capital Investment Fund, Civil Service Pension Reserve Fund, Disaster Relief Fund, Innovation and Technology Fund, Land Fund, Loan Fund and Lotteries Fund. It excludes the Bond Fund, the balance of which is not part of the fiscal reserves. The Bond Fund balance as at October 31, 2019, was HK$132,304 million.

2. Includes transactions with the Exchange Fund and resident banks.

3. These were the green bonds of US$1,000 million (equivalent to HK$7,838 million as at October 31, 2019) which were denominated in US dollars with maturity in May 2024. They do not include the outstanding bonds with nominal value of HK$97,648 million and alternative bonds with nominal value of US$2,000 million (equivalent to HK$15,675 million as at October 31, 2019) issued under the Government Bond Programme (with proceeds credited to the Bond Fund). Of these bonds under the Government Bond Programme (including Silver Bonds with nominal value of HK$8,848 million, which may be redeemed before maturity upon request from bond holders), bonds with nominal value of HK$22,272 million and alternative bonds with nominal value of US$1,000 million (equivalent to HK$7,838 million as at October 31, 2019) will mature within the period from November 2019 to October 2020 and the rest within the period from November 2020 to March 2034.

4. Includes guarantees provided under the SME Loan Guarantee Scheme launched in 2001, the Special Loan Guarantee Scheme launched in 2008, the Special Concessionary Measures under the SME Financing Guarantee Scheme launched in 2012, and a commercial loan of the Hong Kong Science and Technology Parks Corporation.

5. Includes HK$219,730 million being the balance of the Land Fund held in the name of "Future Fund" as from January 1, 2016, for long-term investments initially up to December 31, 2025. As from July 1, 2016, the Future Fund also includes HK$4,800 million, being one-third of the actual surplus in 2015-16 as top-up.