Hong Kong Customs yesterday (December 19) seized a total of about 400 cartons of suspected counterfeit goods, including mobile phones and accessories, watches, clothing and handbags with an estimated market value of about $4 million from a container at the Customs Cargo Examination Compound, River Trade Terminal, Tuen Mun.

     Through risk assessment, Customs officers inspected a 40-foot container arriving in Hong Kong from Huangpu, the Mainland, destined for Uruguay. Upon inspection, Customs officers seized the batch of suspected counterfeit goods in the container.

     Investigation is ongoing.

     Under the Trade Descriptions Ordinance, any person who imports or exports any goods to which a forged trade mark is applied commits an offence. The maximum penalty upon conviction is a fine of $500,000 and imprisonment for five years.

     Members of the public may report any suspected counterfeiting activities to Customs 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk).

  

The following is issued on behalf of the Legislative Council Secretariat:

     The Legislative Council (LegCo) Subcommittee on Private Healthcare Facilities Ordinance (Specification of Date for Section 135(1)(a)) Notice and Private Healthcare Facilities Ordinance (Specification of Date for Section 136(1)(a)) Notice will hold its first meeting tomorrow (December 21) at 2.30pm in Conference Room 2B of the LegCo Complex. During the meeting, members of the Subcommittee will elect a Chairman and meet with the Government.

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     Tenders to be held on December 31:
 

     The Census and Statistics Department (C&SD) released today (December 20) the Consumer Price Index (CPI) figures for November 2018. According to the Composite CPI, overall consumer prices rose by 2.6% in November 2018 over the same month a year earlier, slightly smaller than the corresponding increase (2.7%) in October 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 November 2018 was 2.9%, slightly smaller than that in October 2018 (3.0%), mainly due to the decreases in the prices of women's outerclothing and the smaller increases in local transport fares in November 2018.

     On a seasonally adjusted basis, the average monthly rate of increase in the Composite CPI for the 3-month period from September to November 2018 was 0.3%, and that for the 3-month period from August to October 2018 was 0.2%. Netting out the effects of all Government's one-off relief measures, the average monthly rate of increase in the Composite CPI for the 3-month period from September to November 2018 was 0.3%, and that for the 3-month period from August to October 2018 was 0.2%.

     Analysed by sub-index, the year-on-year rates of increase in the CPI(A), CPI(B) and CPI(C) were 3.0%, 2.4% and 2.3% respectively in November 2018, as compared to 3.2%, 2.5% and 2.3% respectively in October 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 3.3%, 2.8% and 2.6% respectively in November 2018, as compared to 3.5%, 2.9% and 2.6% respectively in October 2018.

     On a seasonally adjusted basis, for the 3-month period from September to November 2018, the average monthly rates of increase in the seasonally adjusted CPI(A), CPI(B) and CPI(C) were 0.3%, 0.2% and 0.3% respectively. The corresponding rates of increase for the 3-month period from August to October 2018 were 0.3%, 0.2% and 0.2% respectively. 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 3-month period from September to November 2018 were 0.3%, 0.2% and 0.3% respectively, and the corresponding rates of increase for the 3-month period from August to October 2018 were 0.3%, 0.2% and 0.2% respectively.

     Amongst the various CPI components, year-on-year increases in prices were recorded in November 2018 for electricity, gas and water (4.0% in the Composite CPI and 4.4% in the CPI(A)); food (excluding meals bought away from home) (3.5% in the Composite CPI and 3.3% in the CPI(A)); miscellaneous services (3.1% in the Composite CPI and 2.2% in the CPI(A)); housing (3.0% in the Composite CPI and 4.3% in the CPI(A)); meals bought away from home (2.7% in both the Composite CPI and CPI(A)); alcoholic drinks and tobacco (1.9% in the Composite CPI and 2.1% in the CPI(A)); transport (1.6% in the Composite CPI and 0.9% in the CPI(A)) and miscellaneous goods (1.4% in the Composite CPI and 1.7% in the CPI(A)).

     On the other hand, year-on-year decreases in prices were recorded in November 2018 for durable goods (-1.8% in the Composite CPI and -1.6% in the CPI(A)) as well as clothing and footwear (-0.2% in the Composite CPI and -0.4% in the CPI(A)). 

     Taking the first 11 months of 2018 together, the Composite CPI rose by 2.4% over a year earlier. The corresponding increases in the CPI(A), CPI(B) and CPI(C) were 2.7%, 2.3% 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 2.6%, 2.9%, 2.6% and 2.4% respectively in the first 11 months of 2018 over a year earlier.

     For the 3 months ended November 2018, the Composite CPI rose by 2.6% over a year earlier, while the CPI(A), CPI(B) and CPI(C) rose by 3.2%, 2.5% and 2.3% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 3.0%, 3.5%, 2.9% and 2.6% respectively.

     For the 12 months ended November 2018, the Composite CPI was on average 2.3% higher than that in the preceding 12-month period. The respective increases in the CPI(A), CPI(B) and CPI(C) were 2.6%, 2.2% and 2.2% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 2.5%, 2.8%, 2.5% and 2.4% respectively.
 
Commentary

     A Government spokesman said that consumer price inflation went down slightly in November. In the coming months, the underlying inflation rate will likely hover near the current level, as the earlier rises in fresh-letting residential rentals continue to feed through. The Government will 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 November 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 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 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 November 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).

     Further to the external merchandise trade statistics in value terms for October 2018 released earlier on, the Census and Statistics Department (C&SD) released today (December 20) the volume and price statistics of external merchandise trade for that month.

     In October 2018, the volume of Hong Kong's total exports of goods increased by 11.9% over October 2017. Concurrently, the volume of imports of goods increased by 10.3%.

     Comparing the first ten months of 2018 with the same period in 2017, the volume of Hong Kong's total exports of goods increased by 7.2%. Concurrently, the volume of imports of goods increased by 8.4%.

     Comparing the three-month period ending October 2018 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 1.1%. Concurrently, the volume of imports of goods increased by 0.7%.

     Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.

     Comparing October 2018 with October 2017, the prices of total exports of goods increased by 2.6%. Concurrently, the prices of imports of goods increased by 2.9%.

     As regards price changes in the first ten 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 2.7%.

     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 0.4% and 0.1% in October 2018 and in the first ten 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 October 2018 with October 2017, double-digit increases were recorded for the total export volume to Vietnam (+15.7%) and the mainland of China (the Mainland) (+13.4%). Concurrently, the total export volume to the USA increased by 8.1%. On the other hand, the total export volume to India and Japan decreased by 2.7% and 9.1% respectively.

     Over the same period of comparison, the total export prices to the Mainland, the USA and Japan increased by 3.8%, 2.5% and 1.9% respectively. On the other hand, the total export prices to Vietnam and India decreased by 0.2% and 3.7% respectively.

     Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.

     Comparing October 2018 with October 2017, double-digit increases were recorded for the import volume from the Mainland (+14.1%) and Japan (+10.8%). Concurrently, the import volume from Korea and Singapore increased by 9.0% and 8.6% respectively. On the other hand, the import volume from Taiwan decreased by 5.0%.

     Over the same period of comparison, the import prices from all main suppliers increased: Korea (+5.3%), Singapore (+3.9%), the Mainland (+3.7%), Japan (+3.2%) and Taiwan (+1.3%).

Further information

     Details of the above statistics are published in the October 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).