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     According to the results of the 2017 Annual Survey of Economic Activities – Import/Export, Wholesale and Retail Trades, and Accommodation and Food Services Sectors released today (November 30) by the Census and Statistics Department (C&SD), total receipts (i.e. sales and other receipts) of the import/export, wholesale and retail trades, and accommodation and food services sectors amounted to $5,039.9 billion in 2017, representing an increase of 2.8% compared with 2016; on a per establishment basis, total receipts increased by 4.8% compared with 2016 to $33.1 million in 2017.
 
     Operating expenses, cost of goods sold and compensation of employees of the above sectors altogether amounted to $4,661.4 billion in 2017, representing an increase of 2.7% compared with 2016; on a per establishment basis, they altogether increased by 4.7% compared with 2016 to $30.6 million in 2017.
 
     Gross surplus of the sectors, which is equal to total receipts less operating expenses, cost of goods sold and compensation of employees, increased by 3.3% compared with 2016 to $378.4 billion in 2017; on a per establishment basis, gross surplus was $2.5 million in 2017, which increased by 5.3% compared with 2016. For all these sectors taken together, gross surplus accounted for 7.5% of total receipts in 2017, which was similar to that in 2016.
 
     Value added of the sectors, which is a measure of their total contribution to Hong Kong’s Gross Domestic Product, amounted to $645.7 billion in 2017, which increased by 5.3% compared with 2016; on a per establishment basis, value added was $4.2 million in 2017, which increased by 7.3% compared with 2016.
 
     According to the survey results, it was estimated that the aforementioned sectors comprised some 152 400 establishments and engaged about 1 092 600 persons, or an average of 7.2 persons per establishment, in 2017.
 
     In the import/export trade, total receipts amounted to $3,986.6 billion while operating expenses, cost of goods sold and compensation of employees totalled $3,680.7 billion in 2017. Gross surplus increased from $295.0 billion in 2016 to $305.9 billion in 2017, accounting for 7.7% of total receipts in 2017. Value added increased by 5.2% compared with 2016 to $457.6 billion.
 
     In the wholesale trade, total receipts amounted to $310.3 billion while operating expenses, cost of goods sold and compensation of employees totalled $302.1 billion in 2017. Gross surplus decreased from $8.2 billion in 2016 to $8.1 billion in 2017, accounting for 2.6% of total receipts in 2017. Value added increased by 4.0% compared with 2016 to $21.9 billion.
 
     In the retail trade, total receipts amounted to $552.3 billion while operating expenses, cost of goods sold and compensation of employees totalled $513.1 billion in 2017. Gross surplus increased from $39.0 billion in 2016 to $39.2 billion in 2017, accounting for 7.1% of total receipts in 2017. Value added increased by 5.7% compared with 2016 to $84.1 billion.
 
     In the accommodation services sector which covers hotels, guesthouses, boarding houses and other establishments providing short term accommodation, total receipts amounted to $45.2 billion while operating expenses, cost of goods sold and compensation of employees totalled $30.4 billion in 2017. Gross surplus increased from $14.3 billion in 2016 to $14.7 billion in 2017, accounting for 32.6% of total receipts in 2017. Value added increased by 4.9% compared with 2016 to $28.4 billion.
 
     In the food services sector which mainly covers restaurants, total receipts amounted to $145.5 billion while operating expenses, cost of goods sold and compensation of employees totalled $135.1 billion in 2017. Gross surplus increased from $10.1 billion in 2016 to $10.5 billion in 2017, accounting for 7.2% of total receipts in 2017. Value added increased by 6.1% compared with 2016 to $53.8 billion.
 
     Selected statistics for the import/export, wholesale and retail trades, and accommodation and food services sectors in 2016 and 2017 are shown in the attached table.
 
     More detailed survey results on the import/export, wholesale and retail trades, and accommodation and food services sectors will be given in the report “Key Statistics on Business Performance and Operating Characteristics of the Import/Export, Wholesale and Retail Trades, and Accommodation and Food Services Sectors in 2017”. Users can download this report (in PDF format) free of charge at the website of C&SD (www.censtatd.gov.hk/hkstat/sub/sp320.jsp?productCode=B1080014) as from end-December 2018.
 
     Users who have enquiries about the survey results may contact the Distribution Services Statistics Section of C&SD (Tel: 3903 7399; email : asw@censtatd.gov.hk).  read more

     The Census and Statistics Department (C&SD) released today (November 30) the results of the 2017 Annual Survey of Economic Activities – Information and Communications, Financing and Insurance, Professional and Business Services Sectors.
 
     Amongst the industry sectors covered by the survey, the financing (except banking) industry recorded the largest total receipts (comprising business receipts and other income) in 2017, followed by the insurance industry and the banking industry. The other industry sectors in descending order in terms of total receipts were information and communications; administrative and support service activities; and professional, scientific and technical activities.
 
     In the financing (except banking) industry, total receipts amounted to $666.0 billion in 2017, representing an increase of 10.4% compared with 2016. On a per establishment basis, total receipts increased by 9.4% compared with 2016 to $81.6 million in 2017. Operating expenses and compensation of employees together increased by 10.8% year-on-year to $235.9 billion in 2017. Gross surplus, which is equal to total receipts less operating expenses, compensation of employees and (where applicable) value of purchases of goods for sale, increased from $390.2 billion in 2016 to $430.0 billion in 2017, accounting for 64.6% of total receipts in 2017. Value added, which provides a measure of the contribution of this industry to Hong Kong’s Gross Domestic Product (GDP), increased by 9.6% compared with 2016 to $94.8 billion in 2017. In 2017, the financing (except banking) industry comprised about 8 200 establishments and engaged about 86 200 persons, or an average of 10.6 persons per establishment.
 
     In the insurance industry, total receipts increased by 15.5% over 2016 to $592.8 billion in 2017. On a per establishment basis, total receipts increased by 14.2% compared with 2016 to $222.1 million in 2017. Operating expenses and compensation of employees together increased by 7.7% year-on-year to $67.6 billion in 2017. In 2017, the insurance industry comprised about 2 700 establishments and engaged about 83 700 persons, or an average of 31.4 persons per establishment.
 
     In the banking industry, total receipts amounted to $425.5 billion in 2017, representing an increase of 12.7% compared with 2016. On a per establishment basis, total receipts increased by 19.3% compared with 2016 to $1.8 billion in 2017. Operating expenses and compensation of employees together increased by 8.9% year-on-year to $205.0 billion in 2017. In 2017, the banking industry comprised 239 establishments and engaged about 104 300 persons, or an average of 436.2 persons per establishment.
 
     In compiling gross surplus and value added of the banking industry and the insurance industry, other data sources are required to supplement the data collected through this survey and these statistics are to be compiled under the framework of GDP. Statistics on value added of these two industries are released by the C&SD separately.
 
     In the information and communications sector, total receipts edged up by 0.2% compared with 2016 to $200.4 billion in 2017. On a per establishment basis, total receipts decreased by 3.7% compared with 2016 to $18.9 million in 2017. Operating expenses and compensation of employees together decreased by 1.8% year-on-year to $133.9 billion in 2017. Gross surplus increased from $45.7 billion in 2016 to $47.0 billion in 2017, accounting for 23.5% of total receipts in 2017. Value added increased by 3.4% compared with 2016 to $85.5 billion in 2017. In 2017, the information and communications sector comprised about 10 600 establishments and engaged about 107 400 persons, or an average of 10.1 persons per establishment.
 
     In the administrative and support service activities sector, total receipts amounted to $150.3 billion in 2017, representing a decrease of 1.8% compared with 2016. On a per establishment basis, total receipts decreased by 2.8% compared with 2016 to $12.6 million in 2017. Operating expenses and compensation of employees together decreased by 2.0% year-on-year to $138.4 billion in 2017. Gross surplus increased from $11.2 billion in 2016 to $11.3 billion in 2017, accounting for 7.5% of total receipts in 2017. Value added increased by 5.5% compared with 2016 to $53.9 billion in 2017. In 2017, the administrative and support service activities sector comprised about 11 900 establishments and engaged about 230 600 persons, or an average of 19.4 persons per establishment.
 
     In the professional, scientific and technical activities sector, total receipts amounted to $150.1 billion in 2017, representing an increase of 4.6% compared with 2016. On a per establishment basis, total receipts increased by 2.7% compared with 2016 to $5.7 million in 2017. Operating expenses and compensation of employees together increased by 4.6% year-on-year to $120.9 billion in 2017. Gross surplus increased from $26.9 billion in 2016 to $27.9 billion in 2017, and accounted for 18.6% of total receipts in 2017. Value added increased by 3.8% compared with 2016 to $81.3 billion in 2017. In 2017, the professional, scientific and technical activities sector comprised about 26 500 establishments and engaged about 145 300 persons, or an average of 5.5 persons per establishment.
 
     Selected statistics for the sectors mentioned above are shown in the attached table. More detailed statistics will be given in the report “Key Statistics on Business Performance and Operating Characteristics of the Information and Communications, Financing and Insurance, Professional and Business Services Sectors in 2017”. Users can download this report (in PDF format) free of charge at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/sp350.jsp?productCode=B1080013) as from end-December 2018.
 
     For enquiries about the key statistics on business performance and operating characteristics of the information and communications, financing and insurance, professional and business services sectors, please contact the Business Services Statistics Section of the C&SD (Tel: 3903 7268 or email: business-services@censtatd.gov.hk).  read more

     The Government announced today (November 30) its financial results for the seven months ended October 31, 2018.      There was a surplus of HK$29.3 billion in the month of October, thereby bringing the cu… read more

     Hong Kong Customs conducted an operation to combat restaurants supplying short-weight seafood from November 19 to today (November 30). During the operation, three restaurants were found to be suspected of supplying short-weight Alaskan crabs.

     Customs officers conducted test-buy operations at restaurants in different districts and ordered Alaskan crab. The crabs supplied by three restaurants located in North Point, Kwai Chung and Tseung Kwan O were found short of weight by 8 taels to 12.9 taels. The spring scale of the restaurant in Tseung Kwan O was also found to be inaccurate.

     Investigations are ongoing.

     Under the Weights and Measures Ordinance (WMO), any person who in the course of trade supplies goods to another person by weight or measure should supply the goods in net weight or net measure. Any shortage of the quantity purported to be supplied is an offence. The maximum penalty upon conviction is a fine of $10,000. In addition, any person who uses for trade, or has in his possession for use for trade, any weighing or measuring equipment which is false or defective commits an offence. The maximum penalty upon conviction is a fine of $20,000.

     Customs appeals to traders to comply with the requirements of the WMO. Customs also reminds consumers to purchase products from reputable shops and pay attention to the process of weighing by restaurants when ordering food supplied by weight.

     Customs will continue to take stringent enforcement action against short-weight activities at restaurants to protect consumers’ interests and uphold a fair trading environment.

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

  

     The effective exchange rate index for the Hong Kong dollar on Friday, November 30, 2018 is 105.8 (up 0.1 against yesterday’s index). read more