Import of poultry meat and products from areas in Vietnam and Germany suspended

     The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (February 11) that in view of notifications from the World Organisation for Animal Health (OIE) about outbreaks of highly pathogenic H5N6 avian influenza in Thanh Hoa Province and Nghe An Province in Vietnam, and an outbreak of highly pathogenic H5N8 avian influenza in the District of Hohenlohekreis, State of Baden-Wurttemberg in Germany, the CFS has instructed the trade to suspend the import of poultry meat and products (including poultry eggs) from the above areas with immediate effect to protect public health in Hong Kong.

     A CFS spokesman said that Hong Kong has currently established a protocol with Vietnam for the import of poultry eggs but not for poultry meat. According to the Census and Statistics Department, Hong Kong imported about 975 000 poultry eggs from Vietnam, and about 4 800 tonnes of frozen poultry meat and 2.9 million poultry eggs from Germany last year.

     "The CFS has contacted the Vietnamese and German authorities over the issues and will closely monitor information issued by the OIE on avian influenza outbreaks. Appropriate action will be taken in response to the development of the situation," the spokesman said.




Hong Kong’s trade in services statistics for 2018

     The Census and Statistics Department (C&SD) released today (February 11) the Hong Kong's trade in services (TIS) statistics for 2018, with detailed breakdowns by service component and by main destination/source.
       
     Comparing 2018 with 2017, the value of total exports of services increased by 9.3% to $886.9 billion, and that of total imports of services increased by 5.6% to $639.9 billion. An invisible trade surplus at $246.9 billion, equivalent to 38.6% of the value of total imports of services, was recorded in 2018. This was greater than the corresponding surplus of $205.4 billion in 2017, equivalent to 33.9% of the value of total imports of services in 2017.
 
Analysis by service component
 
     Analysed by service component, travel was the largest component in exports of services, accounting for 32.6% of the value of total exports of services in 2018. This was followed by transport (29.2%), financial services (19.6%) and other business services (13.2%).
 
     As for imports of services, travel accounted for 32.4% of the value of total imports of services in 2018, followed by transport (22.7%), other business services (15.3%) and manufacturing services (14.6%).
 
     Amongst various service components, the net exports of financial services contributed most significantly to the overall invisible trade surplus, at $125.5 billion in 2018. This was followed by transport ($113.6 billion) and travel ($81.7 billion).
 
     On the other hand, manufacturing services imported by Hong Kong in outward processing were substantial, resulting in a deficit of $93.2 billion in 2018. This was followed by charges for the use of intellectual property ($9.8 billion).
 
Analysis by main destination/source
 
     The mainland of China (the Mainland) and the United States of America (the USA) were the top two main destinations of exports of services of Hong Kong, accounting for 40.4% and 14.2% respectively of the value of total exports of services in 2018. They were followed by the United Kingdom (the UK) (8.2%), Japan (4.2%) and Singapore (4.1%).
 
     The Mainland and the USA were also the top two main sources of imports of services, accounting for 37.9% and 11.1% respectively of the value of total imports of services in 2018. They were followed by Japan (8.3%), the UK (6.0%) and Singapore (4.3%).
 
     Analysed by region, Asia was the most important destination of the exports of services of Hong Kong, accounting for 61.1% of the value of total exports of services in 2018, followed by Western Europe (18.0%) and North America (15.4%).
 
     For imports of services, Asia was also the most important source, accounting for 64.7% of the value of total imports of services in 2018, followed by Western Europe (14.4%) and North America (13.1%).
 
Commentary
 
     A Government spokesman noted that for 2018 as a whole, the value of exports of services grew notably amid a largely favourable global economic environment, with discernible increases in exports of travel, transport and financial services. Major markets such as the Mainland, the US and the UK saw visible growth. The total value of services trade amounted to a sizeable 54% of GDP in 2018, signifying the status of Hong Kong as an international financial and business hub. In 2018, the Mainland continued to be the most prominent destination for Hong Kong’s exports of services, accounting for around 40% of the total. 
 
     The spokesman further pointed out that while services trade worsened visibly in 2019, and is currently confronted with a difficult external environment and the threat of the novel coronavirus infection, Hong Kong's services sector with its strong competitive edges is well-positioned to capitalise on the opportunities brought about by the vibrant development of the Mainland and other developing Asian economies in the medium- to long-term. In particular, the Belt and Road Initiative and the development of the Guangdong-Hong Kong-Macao Greater Bay Area will provide strong growth impetus. The Government will continue to play its role of "facilitator" and "promoter" in a proactive manner and further strengthen Hong Kong's economic ties with the Mainland and other trading partners, with a view to creating a favourable environment for our services trade to thrive.  
 
Further information
 
     Table 1 presents exports, imports and net exports of services by service component in 2017 and 2018.
 
     Table 2 presents exports of services by main destination and imports of services by main source in 2017 and 2018.
 
     Table 3 presents exports, imports and net exports of services by region of destination/source in 2017 and 2018.
 
     More detailed TIS statistics will be given in the report "Hong Kong Trade in Services Statistics in 2018".  Users can download this report (in PDF format) free of charge at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/sp240.jsp?productCode=B1020011) as from early-March 2020.
 
     The TIS statistics have incorporated the latest international recommendations given in the Manual on Statistics of International Trade in Services 2010. For details, please refer to the website of C&SD (www.censtatd.gov.hk/hkstat/sub/so240.jsp). They are compiled mainly based on data obtained from the Annual Survey of Imports and Exports of Services conducted by the C&SD, supplemented by data from other relevant sources. The TIS statistics for 2018 are subject to minor revision when more data from supplementary sources become available.
 
     Enquiries about trade in services statistics can be directed to the Trade in Services Statistics Section of the C&SD (Tel: 3903 7415; email: tis@censtatd.gov.hk).




Effective Exchange Rate Index

     The effective exchange rate index for the Hong Kong dollar on Tuesday, February 11, 2020 is 107 (same as yesterday's index).




Transcript of remarks by CE at media session before ExCo meeting (with video)

     Following is the transcript of remarks by the Chief Executive, Mrs Carrie Lam, at a media session before the Executive Council meeting with the Secretary for Transport and Housing, Mr Frank Chan Fan and the Secretary for Food and Health, Professor Sophia Chan, today (February 11):
 
Reporter: Mrs Lam, just now, you talked about the Hong Mei Estate in Tsing Yi. But you mentioned there are still nine households where the Government’s work continued to be done, so can you explain a little bit more what’s happening at those nine households? And as the Government tried to evacuate the residents, has any household or resident been refusing to leave the premises, or if they refuse to leave the estate, is there any legal responsibility that they have to bear? And secondly, you’ve already explained there are people who refuse to be quarantined at home and you said if they continue to refuse, they will be asked to wear these smart wristbands but officials previously have already explained that even if they wear those wristbands, there’s no way to track where they are, so would the Government consider stronger measures to be adopted on these people? And number three, Professor Sophia Chan yesterday mentioned that she would strongly urge operators of karaokes and cinemas to stop operation for about two weeks. But again, the Government is just urging them to do that. If they refuse to stop operation, would the Government consider stronger measures to shut them down or compel them to stop their business? Thank you.
 
Chief Executive: Well, thank you. I will answer the second and third questions and then invite Professor Chan to address the Tsing Yi case, but as I said, the situation is still ongoing, so I will appeal to you to have a little bit of patience. When we have finished the investigation later today by both the engineering team and the public health team, and they have reported to me and Professor Chan on the situation, we will certainly give you a fuller account on the actual situation. Let’s see whether Professor Chan has anything to add to the nine households who have yet to be contacted.
 
     About the people subject to the compulsory quarantine, the first thing is these people will have to shoulder criminal liabilities if they do not comply with the conditions in the quarantine order. Like many other things, there are consequences for non-compliance but if the individuals, they never mind, they are willing to shoulder the criminal liabilities of not complying, then we will have to do the law enforcement actions as I mentioned in the second measure that we will introduce. But let me just make this clear again – in order to fight this virus, Hong Kong needs the full co-operation and active participation of every member of society. This is a time for social cohesion. This is a time for every one of us to display civic responsibility. For people subject to 14-day quarantine, I understand sometimes it’s a bit difficult to stay at home for a full two weeks but they are doing a service to this fight against the virus by staying at home. I hope that they are not those who deliberately refuse to comply. They may have some personal reasons that they want to go out for a while. Once we catch them, we will issue a warning and then we may put them on the wristbands and we may send them to the quarantine centre so that there is better assurance that they will comply. But the other leg of this enforcement is we will do all we could, the various means that I have described, to check their compliance by using WhatsApp software, by calling them up and also by random spot checks to their homes by the relevant officers. We will continue to do so. If they need support and hence they need to go out, then they could call our hotlines. The colleagues in the Home Affairs Department are running 37 hotlines and the Social Welfare Department has mobilised over 100 colleagues and volunteers to provide services like meals and medicines and other things. We will provide as much as possible facilitation to ensure that they could comply and stay at home.
      
     The third point is – yes, as part and parcel of enhancing social distancing, we are making an appeal to the people of Hong Kong to stay at home as much as possible. This means that they should avoid some social interactions and participation in social activities and family reunions and friends meeting and so on. But at the moment, we are making this appeal, we are not going for compulsory closures because Hong Kong is a free society and I believe that many of these operators are already taking very strong precautionary measures that while they are opening their venues for business, they are also very concerned about infection, so they’re doing all sorts of measures to ensure that even if customers are coming in, there are sufficient precautionary measures to avoid infections taking place in their venues. 
 
Secretary for Food and Health: The staff of the Centre for Health Protection (CHP) have actually gone through all the 34 households last night. Of the households that they have contacted and have done the epidemiological investigations, there are nine households that they cannot contact. They will continue the work today. As far as the situation of the nine households is concerned, some of them (the households) have not replied when they (CHP staff) tried to contact them. They will continue the work today because they are not sure if they (the households) were asleep or actually no one was in the unit.
 
Reporter:… legal consequences?…
 
Chief Executive: Again as I said, let’s wait until the colleagues have done some investigation and we will explain to you the situation, hopefully, later today.
 
(Please also refer to the Chinese portion of the transcript.)
 




Exchange Fund Bills tender results

The following is issued on behalf of the Hong Kong Monetary Authority:

     Exchange Fund Bills tender results:
 

Tender date : February 11, 2020
Paper on offer : EF Bills
Issue number : Q2007
Issue date : February 12, 2020
Maturity date : May 13, 2020
Amount applied : HK$128,850 MN
Amount allotted : HK$45,713 MN
Average yield accepted : 1.64 PCT
Highest yield accepted : 1.65 PCT
Pro rata ratio : About 76 PCT
Average tender yield : 1.69 PCT
****************************
 
Tender date : February 11, 2020
Paper on offer : EF Bills
Issue number : H2036
Issue date : February 12, 2020
Maturity date : August 12, 2020
Amount applied : HK$33,525 MN
Amount allotted : HK$10,000 MN
Average yield accepted : 1.69 PCT
Highest yield accepted : 1.70 PCT
Pro rata ratio : About 82 PCT
Average tender yield : 1.76 PCT

———————————————————

     Hong Kong Monetary Authority tenders to be held in the week beginning February 17:
 

Tender date : February 18, 2020
Paper on offer : EF Bills
Issue number : Q2008
Issue date : February 19, 2020
Maturity date : May 20, 2020
Tenor : 91 Days
Amount on offer : HK$52,075 MN
****************************
 
Tender date : February 18, 2020
Paper on offer : EF Bills
Issue number : H2037
Issue date : February 19, 2020
Maturity date : August 19, 2020
Tenor : 182 Days
Amount on offer : HK$14,000 MN
****************************
 
Tender date : February 18, 2020
Paper on offer : EF Bills
Issue number : Y2086
Issue date : February 19, 2020
Maturity date : February 17, 2021
Tenor : 364 Days
Amount on offer : HK$1,300 MN