Author Archives: hksar gov

     The Centre for Health Protection (CHP) of the Department of Health today (September 20) reported a suspected case of Middle East Respiratory Syndrome (MERS), and again urged the public to pay special attention to safety during travel, taking due consideration of the health risks in the places of visit. The case is detailed below: 
 

Sex	Female
Age	25
Affected area involved	Kuwait
High-risk exposure	Nil
Hospital	Princess Margaret Hospital
Condition	Stable
MERS-Coronavirus preliminary test result	Negative

     “Travellers to the Middle East should avoid going to farms, barns or markets with camels; avoid contact with sick persons and animals, especially camels, birds or poultry; and avoid unnecessary visits to healthcare facilities. We strongly advise travel agents organising tours to the Middle East to abstain from arranging camel rides and activities involving direct contact with camels, which are known risk factors for acquiring MERS Coronavirus (MERS-CoV),” a spokesman for the CHP said.    

     Locally, the CHP’s surveillance with public and private hospitals, with practising doctors and at boundary control points is firmly in place. Inbound travellers and members of the public who recently visited the Middle East and developed fever or lower respiratory symptoms within 14 days will be classified as suspected MERS cases. They will be taken to public hospitals for isolation and management until their specimens test negative for MERS-CoV.

     Travellers to affected areas should maintain vigilance, adopt appropriate health precautions and take heed of personal, food and environmental hygiene. The public may visit the MERS pages of the CHP and its Travel Health Service, MERS statistics in affected areas, the CHP’s Facebook Page and YouTube Channel, and the World Health Organization’s latest news for more information and health advice. Tour leaders and tour guides operating overseas tours are advised to refer to the CHP’s health advice on MERS. read more

     The Census and Statistics Department (C&SD) released today (September 20) the Consumer Price Index (CPI) figures for August 2018. According to the Composite CPI, overall consumer prices rose by 2.3% in August 2018 over the same month a year earlier, slightly smaller than the corresponding increase (2.4%) in July 2018. 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 August 2018 was 2.6%. This increase was also slightly smaller than that in July 2018 (2.7%), mainly due to the smaller increases in the charges for package tours. Also relevant was the decreases in inbound and outbound transport fares.

     On a seasonally adjusted basis, the average monthly rate of increase in the Composite CPI for the three-month period from June to August 2018 was 0.2%, the same as that for the three-month period from May to July 2018. Netting out the effects of all Government’s one-off relief measures, the average monthly rate of increase in the Composite CPI for the three-month period from June to August 2018 was 0.2%, the same as that for the three-month period from May to July 2018.

     Analysed by sub-index, the year-on-year rates of increase in the CPI(A), CPI(B) and CPI(C) were 2.5%, 2.2% and 2.0% respectively in August 2018, as compared to 2.5%, 2.3% and 2.3% respectively in July 2018. 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 2.8%, 2.6% and 2.3% respectively in August 2018, as compared to 2.8%, 2.7% and 2.6% respectively in July 2018.

     On a seasonally adjusted basis, for the three-month period from June to August 2018, the average monthly rates of increase in the seasonally adjusted CPI(A), CPI(B) and CPI(C) were 0.2%, 0.2% and 0.1% respectively. The corresponding rates of increase for the three-month period from May to July 2018 were all 0.2%. Netting out the effects of all Government’s one-off relief measures, the corresponding average monthly rates of increase in the seasonally adjusted CPI(A), CPI(B) and CPI(C) for the three-month period from June to August 2018 were 0.2%, 0.2% and 0.1% respectively, and the corresponding rates of increase for the three-month period from May to July 2018 were all 0.2%.

     Amongst the various CPI components, year-on-year increases in prices were recorded in August 2018 for food (excluding meals bought away from home) (4.5% in the Composite CPI and 4.2% in the CPI(A)); electricity, gas and water (3.4% in the Composite CPI and 3.8% in the CPI(A)); meals bought away from home (3.0% in the Composite CPI and 3.1% in the CPI(A)); housing (2.3% in the Composite CPI and 2.6% in the CPI(A)); alcoholic drinks and tobacco (2.3% in the Composite CPI and 2.5% in the CPI(A)); clothing and footwear (1.9% in the Composite CPI and 2.3% in the CPI(A)); miscellaneous services (1.5% in the Composite CPI and 1.2% in the CPI(A)); miscellaneous goods (1.4% in the Composite CPI and 1.8% in the CPI(A)) and transport (1.4% in the Composite CPI and 1.2% in the CPI(A)).

     On the other hand, year-on-year decrease in prices was recorded in August 2018 for durable goods (-1.9% in the Composite CPI and -1.6% in the CPI(A)).  

     Taking the first eight months of 2018 together, the Composite CPI rose by 2.3% over a year earlier. The corresponding increases in the CPI(A), CPI(B) and CPI(C) were 2.5%, 2.2% and 2.2% respectively. Netting out the effects of all Government’s one-off relief measures, the Composite CPI, CPI(A), CPI(B) and CPI(C) rose by 2.5%, 2.7%, 2.5% and 2.4% respectively in the first eight months of 2018 over a year earlier.

     For the three months ended August 2018, the Composite CPI rose by 2.4% over a year earlier, while the CPI(A), CPI(B) and CPI(C) rose by 2.5%, 2.3% and 2.2% respectively. The corresponding increases after netting out the effects of all Government’s one-off relief measures were 2.6%, 2.9%, 2.7% and 2.5% respectively.

     For the 12 months ended August 2018, the Composite CPI was on average 2.1% higher than that in the preceding 12-month period. The respective increases in the CPI(A), CPI(B) and CPI(C) were 2.2%, 2.0% and 2.0% respectively. The corresponding increases after netting out the effects of all Government’s one-off relief measures were 2.2%, 2.3%, 2.1% and 2.1% respectively.

Commentary

     A Government spokesman said that the underlying inflationary pressure held largely steady in recent months. On a year-on-year basis, the underlying inflation rate eased slightly in August, thanks largely to the smaller increase in the charges for package tours and the decrease in inbound and outbound transport fares, which slightly outweighed the faster increase in the private housing rent component.

     Looking ahead, inflationary pressure is expected to increase modestly in the coming months, alongside the gradual rise in global inflation and continued feed-through of earlier rises in fresh-letting residential rentals. Yet, the inflation rate should stay within a moderate range for 2018 as a whole. The Government will continue to monitor the situation closely, particularly the impact on the lower-income people.

Further information

     The CPIs and year-on-year rates of change at section level for August 2018 are shown in Table 1. The time series on the year-on-year rates of change in the CPIs before and after removing 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 corresponding time series on the average monthly rates of change during the latest three 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 CPI data (including year-on-year comparison, month-to-month comparison, seasonally adjusted data series and the CPIs by the Classification of Individual Consumption According to Purpose (COICOP)) are available in the monthly reports. Users can download the August 2018 issue of the “Monthly Report on the Consumer Price Index” (www.censtatd.gov.hk/hkstat/sub/sp270.jsp?productCode=B1060001), the time series of CPIs at detailed level (www.censtatd.gov.hk/hkstat/sub/sp270.jsp?productCode=D5600001), the time series of CPIs at COICOP division level (www.censtatd.gov.hk/hkstat/sub/sp270.jsp?productCode=D5600002) and the time series of CPIs after netting out the effects of all Government’s one-off relief measures (www.censtatd.gov.hk/hkstat/sub/sp270.jsp?productCode=D5600003) free of charge at the website of the C&SD.

     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

     Further to the external merchandise trade statistics in value terms for July 2018 released earlier on, the Census and Statistics Department (C&SD) released today (September 20) the volume and price statistics of external merchandise trade for that month.
 
     In July 2018, the volume of Hong Kong’s total exports of goods increased by 7.5% over July 2017. Concurrently, the volume of imports of goods increased by 11.5%.
 
     Comparing the first seven months of 2018 with the same period in 2017, the volume of Hong Kong’s total exports of goods increased by 6.8%. Concurrently, the volume of imports of goods increased by 8.4%.
 
     Comparing the three-month period ending July 2018 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 0.6%. Concurrently, the volume of imports of goods increased by 0.1%.
 
     Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
 
     Comparing July 2018 with July 2017, the prices of total exports of goods increased by 2.4%. Concurrently, the prices of imports of goods increased by 2.6%.
 
     As regards price changes in the first seven months of 2018 over the same period in 2017, the prices of total exports of goods increased by 2.5%. Concurrently, the prices of imports of goods increased by 2.6%.
 
     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 2017, the index decreased by 0.2% and 0.1% in July 2018 and in the first seven months of 2018 respectively.

     Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
 
     Comparing July 2018 with July 2017, double-digit increases were recorded for the total export volume to Vietnam (+25.9%) and India (+14.2%). Concurrently, the total export volume to the mainland of China (the Mainland) and the USA increased by 9.3% and 6.5% respectively. On the other hand, the total export volume to Japan decreased by 9.4%.
 
     Over the same period of comparison, the total export prices to the USA, the Mainland and Japan increased by 3.7%, 3.3% and 2.4% respectively. On the other hand, the total export prices to Vietnam and India decreased by 2.1% and 4.1% respectively.
 
     Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
 
     Comparing July 2018 with July 2017, a double-digit growth of 18.4% was recorded for the import volume from Korea. Concurrently, the import volume from Taiwan, Japan, the Mainland and Singapore increased by 9.6%, 8.0%, 7.1% and 1.0% respectively.
 
     Over the same period of comparison, the import prices from Korea, the Mainland, Japan and Singapore increased by 7.8%, 2.8%, 2.8% and 2.4% respectively. On the other hand, the import prices from Taiwan decreased by 0.4%.
 
Further information
 
     Details of the above statistics are published in the July 2018 issue of “Hong Kong Merchandise Trade Index Numbers”. Users can download the publication free of charge at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/sp230.jsp?productCode=B1020006).
 
     Enquiries on merchandise trade indices may be directed to the Trade Analysis Section (1) of the C&SD (Tel: 2582 4918).  read more

     According to the figures released today (September 20) by the Census and Statistics Department (C&SD), total employment in the private sector surveyed increased by 1.4% or 40 100 persons in June 2018 compared with a year ea… read more

     Following is the speech by the Financial Secretary, Mr Paul Chan, at the “In Style‧Hong Kong” Symposium in Ho Chi Minh City, Vietnam, today (September 20):

Deputy Minister Le (Deputy Minister, the Ministry of Foreign Affairs, Vietnam, Mr Lê Hoài Trung), Vice Chairman Le (Vice Chairman of the People’s Committee of Ho Chi Minh City, Mr Le Thanh Liem), Consul-General Wu (Chinese Consul-General in Ho Chi Minh City, Mr Wu Jun), Vincent (Chairman, Hong Kong Trade Development Council, Mr Vincent Lo), distinguished guests, ladies and gentlemen,
 
     Good morning.
 
     And welcome to “In Style‧Hong Kong”, the largest Hong Kong promotion event ever to take place in Vietnam.
 
     It’s a great pleasure to be here, in Vietnam, and for the second time in less than a year. Last October, I took part in the APEC Finance Ministers’ Meeting in Hoi An, with its magnificent ancient town, a UNESCO World Heritage site.
 
     I’m pleased to be back, this time in Ho Chi Minh City, Vietnam’s largest city and one of the world’s most dynamic urban centres. For Vietnamese businesses and consumers, the good news is that I’ve brought with me a big slice of Hong Kong – from the business symposium that begins in just a few moments, to the two-day B2B exhibition “In Style‧Hong Kong” Expo.
 
     The Expo features more than 130 Hong Kong companies and their high-style brands. They range from designer goods and fine jewellery to fashion, smart living and gourmet delicacies. And there’s more, including a fabulous, citywide showcase of Hong Kong lifestyle, in products, fashion and fine food as well. And all of it on offer to Vietnamese consumers throughout Ho Chi Minh City.
 
     We’re here, ladies and gentlemen, because we’re confident that, working together, Hong Kong and Vietnam have much to gain, this week and indeed long down the road.

     The numbers certainly underline that. Over the past five years, merchandise trade between Hong Kong and Vietnam has grown, on average, almost 10 per cent a year.

     Last year, Vietnam was Hong Kong’s 10th largest merchandise trading partner, with trade volume exceeding US$18 billion.  

     There’s also a strong Hong Kong business community in Vietnam, ranging from garment manufacturing to property development and investment banking.

     And that business co-operation will surely grow, given the Free Trade Agreement and the related Investment Agreement signed, last November, between Hong Kong and the 10 member states of ASEAN.

     Since then, both sides have been busy ratifying and making arrangements for the Agreements, which will formally take effect at the beginning of next year. I can tell you and assure you that Hong Kong will be ready to implement the Agreements on January 1, 2019, as planned. And, no doubt, Vietnam is working towards the same target timeline.

     The two Agreements send a clear and compelling message to the world about our common aspiration – to expand trade and investment throughout the Asian region.

     For Hong Kong, as for ASEAN – and that very much includes Vietnam – the Agreements will bring legal certainty and, of course, much better market access in trade and investment. And that can only boost business opportunities, enhancing trade and investment flow between our economies and the businesses that drive them. 
 
     The Hong Kong SAR Government currently has two Economic and Trade Offices in the ASEAN region, in Jakarta and Singapore. And we are planning a third ETO, this one in Bangkok, to strengthen our ties with ASEAN, to make it much easier to capitalise on the business and investment opportunities sure to follow, for all concerned.
 
     Hong Kong, after all, boasts a well-established international trade network, world-class infrastructure and seamlessly connected communications and logistics networks. We are the world’s leading financial centre in Asia, and we ranked number one in five of the past nine years in terms of funds raised through IPOs. We are also a platform for different high value-added services, supported by highly skilled professionals. We have unparalleled knowledge of the Mainland market, and deep economic connections with the Mainland and the rest of the world. With this high degree of connectivity, globally and with the Mainland, Hong Kong helps people and businesses achieve their goals, making our city ASEAN’s, and Vietnam’s, natural partner to connect and excel, and realise the promising business opportunities of the Mainland.
 
     On top of that, the Guangdong-Hong Kong-Macao Greater Bay Area development adds more opportunities for Hong Kong – and the countries and companies that work with us. 

     Linking Hong Kong, Macao and nine cities in Guangdong Province, including Shenzhen, Guangzhou and Zhuhai, the Greater Bay Area counts a combined population of 69 million and a collective GDP worth US$1.5 trillion, which is comparable to that of Korea. Working together, the synergies to be brought about by these cities are obvious and tremendous. The world-class financial services of Hong Kong, the vibrant tech sector in Shenzhen and the advanced manufacturing bases in the other cities in the area enable the Greater Bay Area to have the combined advantages of the New York bay area and the San Francisco Bay Area.

     The Greater Bay Area will certainly have all it takes to become an international innovation and technology hub.  

     Coming Sunday and later this year, two major mega cross-border infrastructure projects, namely the Guangzhou-Shenzhen-Hong Kong Express Rail Link and the Hong Kong-Zhuhai-Macao Bridge, will be operational, further enhancing Hong Kong’s connectivity with the Greater Bay Area and beyond.

     With the Hong Kong-Zhuhai-Macao Bridge, the travelling time from Hong Kong to Macao and Zhuhai will be cut down substantially to less than an hour. A one-hour living circle will be created. And most of the cities in the Pearl River Delta area are within three hours’ drive. Cities in Indochina, such as Hanoi in Vietnam, can be reached in about one day. And with the Express Rail Link, the journey time between Guangzhou and Hong Kong will be reduced to 48 minutes only, and passengers from Hong Kong can easily access the over-20,000-kilometre national high-speed rail network connecting all major cities in the Mainland. That means a very sizeable and easily accessible market is waiting for us to tap. To Vietnamese businesses, I say join us. Partner with Hong Kong in building a rewarding future – in the Bay Area, in ASEAN. And right here, today and tomorrow, at “In Style • Hong Kong”.
 
     My sincere thanks to the Hong Kong Trade Development Council for organising “In Style‧Hong Kong”. And to all of you, for your enthusiastic support in taking bilateral relations between Hong Kong and Vietnam to a new level of promise and opportunity. 
 
     Ladies and gentlemen, I wish you all the best of business – and pleasure – at “In Style‧Hong Kong”.  
 
     Thank you. read more