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     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

     The Census and Statistics Department (C&SD) released today (October 20) the Consumer Price Index (CPI) figures for September 2023. According to the Composite CPI, overall consumer prices rose by 2.0% in September 2023 over the same month a year earlier, larger than the corresponding increase (1.8%) in August 2023. 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 September 2023 was 1.8%, also larger than that in August 2023 (1.5%). The larger increase was mainly due to the increases in food prices, in particular for fresh vegetables whose prices increased significantly due to the impact of typhoons and extreme weather conditions occurred in September.  

     On a seasonally adjusted basis, the average monthly rate of increase in the Composite CPI for the 3-month period ending September 2023 was 0.1%, the same as that for the 3-month period ending August 2023. 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 2.1%, 2.0% and 2.1% respectively in September 2023, as compared to 1.8%, 1.7% and 1.8% respectively in August 2023. 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 1.8%, 1.7% and 1.9% respectively in September 2023, as compared to 1.5%, 1.4% and 1.6% respectively in August 2023.   

     On a seasonally adjusted basis, for the 3-month period ending September 2023, the average monthly rates of increase in the seasonally adjusted CPI(A), CPI(B) and CPI(C) were 0.1%, 0.1% and 0.2% respectively. The corresponding rates of increase for the 3-month period ending August 2023 were 0.2%, 0.1% and 0.1% respectively. Netting out the effects of all Government’s one-off relief measures, the average monthly rates of increase in the seasonally adjusted CPI(A), CPI(B) and CPI(C) for the 3-month period ending September 2023 were 0.1%, 0.1% and 0.2% respectively, and the corresponding rates of increase for the 3-month period ending August 2023 were 0.0%, 0.1% and 0.1% respectively.   

     Amongst the various components of the Composite CPI, year-on-year increases in prices were recorded in September 2023 for alcoholic drinks and tobacco (18.9%), clothing and footwear (6.5%), meals out and takeaway food (4.0%), electricity, gas and water (2.9%), miscellaneous services (2.7%), miscellaneous goods (2.5%), transport (2.4%), basic food (1.3%), and housing (0.9%).   

     On the other hand, a year-on-year decrease in the component of the Composite CPI was recorded in September 2023 for durable goods (-1.8%).   

     Taking the first 9 months of 2023 together, the Composite CPI rose by 1.9% over a year earlier. The respective increases in the CPI(A), CPI(B) and CPI(C) were 2.0%, 1.9% and 2.0% respectively. The corresponding increases after netting out the effects of all Government’s one-off relief measures were 1.8%, 1.8%, 1.6% and 1.8% respectively.   

     In the third quarter of 2023, the Composite CPI rose by 1.9% over a year earlier, while the CPI(A), CPI(B) and CPI(C) rose by 1.9%, 1.8% and 1.9% respectively. The corresponding increases after netting out the effects of all Government’s one-off relief measures were 1.6%, 1.7%, 1.5% and 1.7% respectively.   

     For the 12 months ending September 2023, 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 2.0%, 1.8% and 1.9% respectively. The corresponding increases after netting out the effects of all Government’s one-off relief measures were 1.8%, 1.8%, 1.7% and 1.8% respectively. 

Commentary

     A Government spokesman said that the underlying consumer price inflation rate remained moderate in September. Prices of basic food turned to a year-on-year increase mainly due to the extreme weather conditions in the early part of the month. Prices of meals out and takeaway food increased at a faster pace. Prices of clothing and footwear, and electricity continued to rise notably, but the rate of increase for the latter eased further. Price pressures on other major components remained broadly in check.

     Looking ahead, overall inflation should stay moderate in the near term. External price pressures are expected to abate further. While domestic business cost might face some upward pressures, it should remain contained in the near term. The Government will continue to monitor the situation.

Further information

     The CPIs and year-on-year rates of change at section level for September 2023 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). read more

     The Town Planning Board (TPB) completed today (October 20) the deliberation on the further representations on the proposed amendment to the draft Fanling/Sheung Shui Extension Area Outline Zoning Plan No. S/FSSE/1 (the draft OZP) and decided to amend the draft OZP by the proposed amendment, i.e. rezoning the 9.5-hectare site at the northernmost portion of the draft OZP (the Site) from “Residential (Group A)” to “Undetermined” (“U”) temporarily.
 
​     Having considered thoroughly 1 903 further representations, the oral submissions of about 60 attendees in the three-day hearing, as well as the views and responses of the Planning Department and relevant departments, the TPB arrived at the decision after discussion at its meeting this afternoon.
 
     The TPB was aware that the Hong Kong Golf Club had lodged a judicial review (JR) against the Director of Environmental Protection’s decision to approve with conditions the Environmental Impact Assessment related to the draft OZP (the Decision), and the Court had granted an interim stay on the Decision, but made it clear that the Civil Engineering and Development Department (CEDD) could go ahead with the review on the layout and development intensity of the proposed public housing development at the Site in accordance with the relevant approval conditions under the Decision. The TPB took a cautious approach in considering the further representations, taking into account the relevant content in the Court’s decision. The TPB also noted that the Court’s decision on the interim stay did not legally prevent the TPB from proceeding with the hearing and submission of the draft OZP to the Chief Executive in Council (CE in C). 
 
​     After thorough discussion, the TPB considered the “U” zoning for the Site appropriate at this stage since such land use zoning serves as a transitional arrangement and does not determine the permanent use of the Site. It allows the CEDD to conduct the review with flexibility to cater for possible outcomes of the JR, while providing appropriate planning control on the Site during the interim period. The TPB would submit the draft OZP to the CE in C for consideration before the statutory time limit of November 30, 2023.
 
​     The TPB acknowledged that the long-term use of the Site would only be confirmed upon completion of the CEDD’s review and the JR proceedings. Any further rezoning of the Site in future would be processed in accordance with the Town Planning Ordinance, and the public would have the opportunity to submit representations. read more

     The Town Planning Board today (October 20) announced amendments to the approved Kwun Tong (South) Outline Zoning Plan (OZP).

     The amendments mainly involve (i) rezoning a site to the west of Lai Yip Street from “Government, Institution or Community (1)” (“G/IC(1)”), “Open Space” (“O”) and areas shown as ‘Road’ to “Commercial (1)” (“C(1)”) for commercial development; (ii) rezoning a strip of land to the north of Hoi Bun Road from “G/IC(1)” and “C(1)” to an area shown as ‘Road’; (iii) rezoning a site to the south of How Ming Street from “Other Specified Uses” annotated “Business 1” to “Other Specified Uses” annotated “Business” to reflect the completed development; (iv) incorporating the area covered by the approved Urban Renewal Authority Kwun Tong Town Centre – Yuet Wa Street Site Development Scheme Plan No. S/K14S/URA2/2 into the OZP and zoning the area mainly as “Residential (Group B)1” and a strip of land shown as ‘Road’; and (v) rezoning a strip of land along Hang On Street from “O” to “G/IC” to reflect the completed development.

     Opportunity is also taken to amend the Notes and Explanatory Statement of the OZP to reflect the above amendments and to update the general information of various land use zonings and the planning scheme area, where appropriate.

     The draft Kwun Tong (South) OZP No. S/K14S/25, incorporating the amendments, is available for public inspection during office hours at (i) the Secretariat of the Town Planning Board, (ii) the Planning Enquiry Counters, (iii) the Kowloon District Planning Office and (iv) the Kwun Tong District Office.

     Any person may make written representations in respect of the amendments to the Secretary of the Town Planning Board on or before December 20. Any person who intends to make a representation is advised to read the Town Planning Board Guidelines No. 29C on “Submission and Processing of Representations and Further Representations” (TPB PG-No. 29C).

     Submission of a representation should comply with the requirements set out in TPB PG-No. 29C. In particular, the representer should take note of the following:
 
* If the representer fails to provide his or her full name and the first four alphanumeric characters of his or her Hong Kong identity card or passport number as required under TPB PG-No. 29C, the representation submitted shall be treated as not having been made; and
* The Secretariat of the Town Planning Board reserves the right to require the representer to provide identity proof for verification.
 
     The Guidelines and the submission form are available at the above locations (i) and (ii) and the Town Planning Board’s website (www.tpb.gov.hk).

     Copies of the draft Kwun Tong (South) OZP are available for sale at the Map Publications Centres in North Point and Yau Ma Tei. The electronic version of the OZP can be viewed on the Town Planning Board’s website (www.tpb.gov.hk). read more

     â€‹The Town Planning Board today (October 20) announced amendments to the approved Tuen Mun Outline Zoning Plan (OZP).

     The amendments mainly involve (i) rezoning a site at the upper section of Hong Po Road from “Green Belt” (“GB”) and an area shown as ‘Road’ to “Residential (Group A)28” (“R(A)28”); (ii) rezoning a site at the junction of Hong Po Road, Tsing Lun Road and Ng Lau Road from “Residential (Group E)1” (“R(E)1”) and an area shown as ‘Road’ to “R(A)28”; (iii) rezoning a site to the west of Ng Lau Road from “R(E)1” to “Government, Institution or Community” (“G/IC”); (iv) rezoning a site in Tuen Mun Area 9 from “Comprehensive Development Area (1)” (“CDA(1)”), “Comprehensive Development Area (2)” and an area shown as ‘Road’ to “Commercial (2)”; (v) rezoning a site adjacent to Ho Tin Light Rail Station from “CDA(1)” to “Open Space”; and (vi) rezoning two sites to the west and further west of Hing Fu Street from “GB” to “G/IC(3)” and “G/IC(4)” respectively.

     Opportunity is also taken to amend the Notes and Explanatory Statement of the OZP to reflect the above amendments and to update the general information of various land use zonings and the planning scheme area, where appropriate.

     The draft Tuen Mun OZP No. S/TM/38, incorporating the amendments, is available for public inspection during office hours at (i) the Secretariat of the Town Planning Board, (ii) the Planning Enquiry Counters, (iii) the Tuen Mun and Yuen Long West District Planning Office, (iv) the Tuen Mun District Office and (v) the Tuen Mun Rural Committee.

     Any person may make written representations in respect of the amendments to the Secretary of the Town Planning Board on or before December 20. Any person who intends to make a representation is advised to read the Town Planning Board Guidelines No. 29C on “Submission and Processing of Representations and Further Representations under the Town Planning Ordinance” (TPB PG-No. 29C).

     Submission of a representation should comply with the requirements set out in TPB PG-No. 29C. In particular, the representer should take note of the following:

* If the representer fails to provide his or her full name and the first four alphanumeric characters of his or her Hong Kong identity card or passport number as required under TPB PG-No. 29C, the representation submitted shall be treated as not having been made; and
* The Secretariat of the Town Planning Board reserves the right to require the representer to provide identity proof for verification.

     The Guidelines and the submission form are available at the above locations (i) and (ii) and the Town Planning Board’s website (www.tpb.gov.hk).

     Copies of the draft Tuen Mun OZP are available for sale at the Map Publications Centres in North Point and Yau Ma Tei. The electronic version of the OZP can be viewed on the Town Planning Board’s website (www.tpb.gov.hk). read more