The following is issued on behalf of the Hong Kong Monetary Authority: It has recently come to the attention of the Hong Kong Monetary Authority (HKMA) that shredded banknotes paperweights sold at the HKMA Informa… read more
The Centre for Health Protection (CHP) of the Department of Health today (October 20) reported the latest number of dengue fever (DF) cases, and urged the public to maintain strict environmental hygiene, mosquito control and personal protective measures both locally and during travel.
From October 13 to yesterday (October 19), the CHP recorded two imported DF cases. The patients had been to Vietnam and Thailand respectively during the incubation periods.
As of yesterday, 40 imported cases of DF had been recorded in 2023. In 2022, 26 imported cases of DF were recorded.
The latest surveillance data shows that there is an increase in DF cases noted in some places in Asia (such as Bangladesh, Malaysia, Taiwan and Thailand) compared to the same period last year. Members of the public, while travelling abroad, should stay vigilant and carry out effective mosquito prevention and control measures. Detailed information on the latest DF situation in Hong Kong, as well as neighbouring and overseas countries and areas, has been uploaded to the CHP’s website (www.chp.gov.hk/files/pdf/df_imported_cases_and_overseas_figures_eng.pdf).
“Apart from general measures, travellers returning from areas affected by DF should apply insect repellent for 14 days upon arrival in Hong Kong. If feeling unwell, seek medical advice promptly and provide travel details to the doctor,” a spokesman for the CHP said.
The public should take heed of the following advice on mosquito control:
Police will implement crowd safety management measures and special traffic arrangements in Kowloon and New Territories between October 21 and 22 to facilitate the holding of Hong Kong Cyclothon 2023. … read more
​The Secretary for Culture, Sports and Tourism, Mr Kevin Yeung, commenced his visit to Thailand this afternoon (October 20). He met with the Minister of Culture of Thailand, Mr Sermsak Pongpanit, in Bangkok to explore collaboration opportunities and enhance mutual links. Mr Yeung also met with the Deputy Governor of the Tourism Authority of Thailand, Mr Chattan Kunjara Na Ayudhya, to share their experiences in promoting tourism and explore opportunities in strengthening exchanges and co-operation.
Mr Yeung said, “At the opening ceremony of the third Belt and Road Forum for International Cooperation, President Xi Jinping announced eight major steps China will take to support high-quality Belt and Road co-operation, one of which is to strengthen the institutional building for international Belt and Road co-operation, including building multilateral co-operation platforms covering culture and other fields. Hong Kong has a Memorandum of Understanding on Cultural Cooperation with Thailand, creating a favourable environment to strengthen collaboration between the two sides under the Belt and Road Initiative framework. In fully utilising the co-operation platform, the three-week Hong Kong Week 2023@Bangkok organised by the Leisure and Cultural Services Department this time will bring to local audiences programmes of performing arts, exhibitions and film screenings, showcasing the diversity of Hong Kong’s arts and culture, as well as telling the good stories of China and Hong Kong.”
Mr Yeung also pointed out that the Government of the Hong Kong Special Administrative Region attaches great importance to facilitating cultural exchanges and co-operation across Asia. The Asia Cultural Co-operation Forum 2022 held in Hong Kong in December last year provided an important platform for the participating cultural ministers and senior officials to share their views and experience on policies and measures promoting arts and culture development. Representatives from the Ministry of Culture of Thailand also participated in the Forum. The National 14th Five-Year Plan has expressed clear support for Hong Kong to develop into an East-meets-West centre for international cultural exchange. One of the key areas of work is to facilitate culture exchanges and co-operation within Asia and internationally.
Mr Yeung will continue his visit to Bangkok, Thailand, tomorrow.
The Census and Statistics Department (C&SD) released today (October 20) the results of the Quarterly Business Tendency Survey for the fourth quarter (Q4) of 2023.
Business situation
For all surveyed sectors taken together, the proportion of respondents expecting their business situation to be better (17%) in Q4 2023 over the preceding quarter is higher than that expecting it to be worse (9%).
When compared with the results of the Q3 2023 survey round, the proportion of respondents expecting a better business situation in Q4 2023 is 17%, slightly higher than the corresponding proportion of 16% in Q3 2023. On the other hand, the proportion of respondents expecting a worse business situation has slightly decreased from 10% in Q3 2023 to 9% in Q4 2023.
Analysed by sector, respondents in most of the surveyed sectors expect their business situation to increase on balance or remain broadly unchanged in Q4 2023 as compared with Q3 2023. In particular, significantly more respondents in the accommodation and food services and retail sectors expect their business situation to be better in Q4 2023 as compared with Q3 2023.
The results of the survey should be interpreted with care. 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 September 2, 2023 to October 10, 2023.
Volume of business/output
Respondents in all of the surveyed sectors expect their volume of business/output to increase on balance or remain broadly unchanged in Q4 2023 as compared with Q3 2023. In particular, significantly more respondents in the retail and accommodation and food services sectors expect their volume of sales/business to increase in Q4 2023 over Q3 2023.
Employment
Respondents in all of the surveyed sectors expect their employment to increase on balance or remain broadly unchanged in Q4 2023 as compared with Q3 2023. In particular, more respondents in the accommodation and food services, real estate, retail, manufacturing and financing and insurance sectors expect their employment to increase in Q4 2023 over Q3 2023.
Selling price/service charge
Respondents in all of the surveyed sectors expect their selling prices/service charges to increase on balance or remain broadly unchanged in Q4 2023 as compared with Q3 2023. In particular, more respondents in the accommodation and food services and manufacturing sectors expect their prices of food provided/charges for services rendered/selling prices to go up in Q4 2023 over Q3 2023.
Commentary
A Government spokesman said that business sentiment among large enterprises improved slightly as compared to three months ago. Large enterprises’ appetite for hiring stayed positive.
Looking forward, the spokesman said that while the continued growth of consumption- and tourism-related activities and the Government’s measures to boost the momentum of the recovery should provide some support, the difficult external environment and tight financial conditions will continue to dampen business sentiment. The Government will monitor the situation closely.
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 Q4 2022 to Q4 2023.
Table 1 shows the net balances of views on expectations in respect of different variables for Q4 2023.
The survey results are published in greater detail in the “Report on Quarterly Business Tendency Survey, Q4 2023”. Users can browse and download the publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1110008&scode=300).
Users who have enquiries about the survey results may contact the Business Expectation Statistics Section of the C&SD (Tel: 3903 7263; email: business-prospects@censtatd.gov.hk). read more