Tag Archives: China

     Further to the external merchandise trade statistics in value terms for November 2023 released earlier on, the Census and Statistics Department (C&SD) released today (January 16) the volume and price statistics of external merchandise trade for that month.
 
     In November 2023, the volume of Hong Kong’s total exports of goods and imports of goods increased by 1.5% and 2.6% respectively over November 2022.
 
     Comparing the first eleven months of 2023 with the same period in 2022, the volume of Hong Kong’s total exports of goods and imports of goods decreased by 13.1% and 10.6% respectively.
 
     Comparing the three-month period ending November 2023 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods and imports of goods increased by 4.3% and 4.0% respectively.
 
     Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
 
     Comparing November 2023 with November 2022, the prices of total exports of goods and imports of goods increased by 5.5% and 4.1% respectively.
 
     As regards price changes in the first eleven months of 2023 over the same period in 2022, the prices of total exports of goods and imports of goods increased by 4.4% and 3.8% respectively.
 
     Price changes in external merchandise trade are reflected by changes in unit value indices of external merchandise trade, which are compiled based on average unit values or, for certain commodities, specific price data.
 
     The terms of trade index is derived from the ratio of price index of total exports of goods to that of imports of goods. Compared with the same periods in 2022, the index increased by 1.3% in November 2023 and 0.6% in the first eleven months of 2023.
 
     Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
 
     Comparing November 2023 with November 2022, increases were recorded for the total export volume to India (12.2%), the mainland of China (the Mainland) (7.2%), Vietnam (6.6%) and the USA (2.1%). On the other hand, the total export volume to Taiwan decreased by 4.6%.
 
     Over the same period of comparison, the total export prices to all main destinations increased:
India (8.1%), the Mainland (7.6%), Vietnam (6.1%), Taiwan (2.5%) and the USA (2.1%).
 
     Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
 
     Comparing November 2023 with November 2022, increases were recorded for the import volume from Singapore (19.6%), the Mainland (3.5%) and Japan (3.4%). On the other hand, the import volume from Korea (-11.3%) and Taiwan (-15.0%) decreased.
 
     Over the same period of comparison, the import prices from all main suppliers increased: Taiwan (7.5%), Korea (6.2%), Singapore (6.1%), the Mainland (4.3%) and Japan (2.9%).
 
Further information
 
     Details of the above statistics are published in the November 2023 issue of “Hong Kong Merchandise Trade Index Numbers”. Users can browse and download the report at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1020006&scode=230).
 
     Enquiries on merchandise trade indices may be directed to the Trade Analysis Section of the C&SD (Tel: 2582 4918). read more

     â€‹The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (January 16) that in view of notifications from the World Organisation for Animal Health (WOAH) about outbreaks of highly… read more

The following is issued on behalf of the Hong Kong Housing Authority:
 
     At the Hong Kong Housing Authority (HA) meeting today (January 16), the HA endorsed the Corporate Plan for 2024/25, the 2023/24 Revised Budget and the 2024/25 Proposed Budget, and also noted the 2025/26 to 2027/28 Financial Forecasts.
 
     In 2024/25, the HA will continue to focus its efforts on providing quality homes, promoting sustainable living, optimising and rationalising the use of public resources and enhancing the attractiveness of commercial properties. Based on these four themes, a total of 39 key activities and 17 key performance indicators have been drawn up for the 2024/25 Corporate Plan.
 
     “The Corporate Plan is the platform through which the HA directs its work and focuses its efforts to address the challenges of public housing. In his 2023 Policy Address, the Chief Executive (CE) reiterated that the Government would work to create land at full speed and establish land reserves, and announced a series of new housing measures, some of which are to be implemented by the HA in the coming financial year,” a spokesman for the HA said.
 
     “In 2024/25, we will continue to work in full steam to develop both public rental housing units and subsidised sale flats with a view to increasing the supply of public housing units. Furthermore, we will extend the mortgage default guarantee period for subsidised sale flats (SSFs) in the secondary market, so as to help the circulation of SSFs. On development and construction of public housing, we will accelerate housing production by adopting the Modular Integrated Construction approach (MiC) and ‘Design-and-Build’ procurement model more widely. To support families with newborns, we will launch the Families with Newborns Flat Selection Priority Scheme and Families with Newborns Allocation Priority Scheme.  On estate management, we will promote smart estate management by adoption of innovative technologies, thereby assist daily estate management”, the spokesman added.
 
     Under the latest budgets and financial forecasts, the HA will have the necessary financial resources to meet its recurrent and construction expenditure up to 2027/28. Its cash and investment balance is projected to decrease from around $69.7 billion in early April 2024 to around $40.6 billion by the end of March 2028. 
 
     Construction expenditure remains the largest expenditure item of the HA, and is projected to reach around $40 billion for both 2026/27 and 2027/28. To meet the current 10-year public housing supply target, it is envisaged that the HA’s construction expenditure beyond 2027/28 will be at least double that of the estimates in the current forecasts.
 
     “We will certainly exercise careful and serious budgetary control to ensure prudent and cost-effective use of resources. We will also monitor closely and review the income and expenditure projections in the next round of financial forecasts updating,” said the spokesman. 
 
     The Government has earmarked sufficient resources in the fiscal reserves for the development of public housing and related infrastructure to demonstrate the Government’s commitment in this regard.
 
     The HA’s 2024/25 Corporate Plan and Budget will be submitted to the CE for approval in accordance with the Housing Ordinance. read more

     Police are investigating a fatal traffic accident happened in Yuen Long this morning (January 16), in which a 31-year-old man died.      At about 7.12am, a light goods vehicle driven by a 26-year-old man … read more

     The effective exchange rate index for the Hong Kong dollar on Tuesday, January 16, 2024 is 104.6 (up 0.3 against yesterday’s index). read more