According to the provisional results of a survey released today (December 14) by the Census and Statistics Department (C&SD), the index of industrial production for manufacturing industries as a whole increased by 1.2% in the third quarter of 2018 compared with a year earlier, following a year-on-year increase of 1.6% in the second quarter of 2018. The corresponding producer price index increased slightly by 0.1% in the third quarter of 2018 compared with a year earlier, after recording a 3.7% year-on-year increase in the second quarter of 2018.

     The index of industrial production for sewerage, waste management and remediation activities increased by 3.4% in the third quarter of 2018 compared with a year earlier, following a year-on-year increase of 3.1% in the second quarter of 2018. The corresponding producer price index also increased by 3.8% in the third quarter of 2018 compared with a year earlier, following a year-on-year increase of 4.3% in the second quarter of 2018.

     Indices of industrial production reflect changes in the volume of local industrial output after discounting the effect of price changes. The price changes are measured by the producer price indices compiled from data on producer prices of selected industrial goods/services collected in the same survey.

     Comparing the industrial production in respect of major manufacturing industries in the third quarter of 2018 with that a year earlier, an increase in output volume was recorded mainly in the food, beverages and tobacco industry (+3.5%). On the other hand, decreases in output volume were recorded in the textiles and wearing apparel industry (-3.3%); the metal, computer, electronic and optical products, machinery and equipment industry (-2.1%); and the paper products, printing and reproduction of recorded media industry (-2.1%).

     On a seasonally adjusted basis, the index of industrial production for manufacturing industries as a whole decreased by 0.4% in the third quarter of 2018 compared with the second quarter of 2018. 

     Producer price indices reflect changes in the prices of local output. They measure changes in the actual prices (net of any discounts or rebates allowed to buyers, plus any surcharges) received by producers for their output. Transportation and other incidental charges are not included.

     Comparing the third quarter of 2018 with a year earlier, increases in producer prices were recorded mainly in the paper products, printing and reproduction of recorded media industry (+3.0%); the food, beverages and tobacco industry (+1.5%); and the textiles and wearing apparel industry (+0.9%). On the other hand, a decrease in producer prices was recorded in the metal, computer, electronic and optical products, machinery and equipment industry (-0.9%).

     Table 1 shows the year-on-year percentage changes in the indices of industrial production by selected industry grouping.　Table 2 shows the year-on-year percentage changes in the producer price indices for the industrial sector by selected industry grouping.

     The revised figures on indices of industrial production and producer price indices for the industrial sector for the third quarter of 2018 will be released at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/bbs.jsp) and relevant publications of the department starting from January 18, 2019.

     Users can download the reports "Quarterly Index of Industrial Production, 3rd Quarter 2018" (www.censtatd.gov.hk/hkstat/sub/sp310.jsp?productCode=B1070002) and "Quarterly Producer Price Index for Industrial Sector, 3rd Quarter 2018" (www.censtatd.gov.hk/hkstat/sub/sp280.jsp?productCode=B1070003) free of charge at the website of the C&SD.

     Readers who have enquiries about the survey results may contact the Industrial Production Statistics Section of the C&SD (Tel: 3903 7247; fax: 2123 1048; email: ind-production@censtatd.gov.hk).

     The Air Accident Investigation Authority (AAIA) today (December 14) released Serious Incident Bulletin 7/2018 in relation to a China Southern Airlines Boeing 737-81B aircraft (registration mark B-1918) which landed on runway 07L when an MS Aviation GmbH Bombardier Global 5000 aircraft (registration mark P4-AVA) was still taxiing on the runway and short of the rapid exit taxiway A7 on November 13, 2018, at Hong Kong International Airport.

     A spokesperson for the AAIA said that the bulletin contains information relating to the serious incident collected up to the time of issue, and must be regarded as tentative.

     "The AAIA will continue to collect and study all relevant information in order to determine the circumstances and causes of the serious incident. More in-depth investigation and analysis have to be conducted before any conclusion can be drawn," the spokesperson said.

     The full Serious Incident Bulletin 7/2018 is available for download from the AAIA webpage (www.thb.gov.hk/aaia/eng/investigation_reports/index.htm).

     The Government announced today (December 14) the re-appointment of Mr Anthony Chow Wing-kin as the Chairman of the Process Review Panel (PRP) for the Financial Reporting Council (FRC) and Ms Florence Chan Yuen-fan and Professor Low Chee-keong as members for a term of two years effective from January 1, 2019.

     In announcing the appointments, the Secretary for Financial Services and the Treasury, Mr James Lau, said, "The PRP helps enhance the transparency and accountability of the FRC. We are confident that, under the leadership of Mr Chow and with the support of panel members, the PRP will continue to discharge its duties effectively to enhance our financial reporting and corporate governance regime."

     Established under the FRC Ordinance (Cap. 588), the FRC is an independent statutory body to investigate possible auditing and reporting irregularities, as well as to enquire into possible non-compliance with accounting requirements, in relation to listed entities in Hong Kong. The PRP for the FRC is an independent and non-statutory body established in 2008. It reviews the operational procedures of the FRC and determines whether the actions taken by the FRC in handling cases have followed its internal procedures and guidelines. The Chairman and members of the PRP are appointed by the Financial Secretary under authority delegated by the Chief Executive.

     The membership list of the PRP for the FRC with effect from January 1, 2019, is as follows:

Chairman
———–
Mr Anthony Chow Wing-kin

Members (in alphabetical order of surnames)
—————————————————
Ms Florence Chan Yuen-fan
Professor Low Chee-keong
Ms Edith Shih
Mr Tse Kam-keung

Ex-officio Member
——————–
Dr Kelvin Wong Tin-yau (in the capacity as the Chairman of the FRC)
 

     The effective exchange rate index for the Hong Kong dollar on Friday, December 14, 2018 is 105.6 (up 0.2 against yesterday's index).

 The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Bank of China (Hong Kong) Limited on fraudulent websites and phishing email, which has been reported to the HKMA. Hyperlink to the press release is available on the HKMA website for ease of reference by members of the public.
 
     Anyone who has provided his or her personal information to the websites concerned or has conducted any financial transactions through the websites should contact the bank concerned using the contact information provided in the press release, and report to the Police or contact the Cyber Security and Technology Crime Bureau of the Hong Kong Police Force at 2860 5012.