Latest news with #CensusandStatisticsDepartment
HKFP
4 days ago
- Business
- HKFP
Hong Kong leader lauds gov't approach as city climbs to 3rd spot in global competitiveness index
Hong Kong has been ranked third in a global competitiveness index, up two places from last year, with Chief Executive John Lee lauding his administration for improving government efficiency. The Switzerland-based International Institute for Management Development (IMD) on Tuesday released the 2025 edition of its World Competitiveness Ranking. Out of 69 economies, Hong Kong ranked behind only Switzerland and Singapore, returning to the top three for the first time since 2019. In the latest IMD rankings, Hong Kong was followed by Denmark, the United Arab Emirates, and Taiwan. China ranked 16th, sandwiched between Iceland and Saudi Arabia. Speaking at a weekly press conference on Tuesday, Lee said Hong Kong had scored 99.2 points out of 100 in the IMD ranking – up 7.7 points from last year, when the city ranked fifth, marking the biggest improvement among the top 10 in this year's list. Hong Kong also improved in the IMD's assessment of government efficiency, business efficiency, economic performance, and infrastructure, the chief executive added. 'This shows the government's governing approach is largely on the right track and various policies are effective,' he said in Cantonese. Hong Kong scored 94.3 out of 100 for government efficiency, ranking second in the category this year. Last year, it ranked third. Lee said he felt 'encouraged' by the results and lauded the excellence of the city's civil service. 'This also shows that my reform of government culture and making result-oriented policies are correct and effective,' he added. Lee also said the city expected to have a GDP growth of 2 to 3 per cent this year, following a 2.5 per cent increase last year. But he warned that some industries in Hong Kong, such as retail and the food and beverage sector, were facing challenges amid 'a period of economic restructuring.' He said the government would continue supporting small and medium-sized businesses in areas such as brand enhancement and market expansion. Rising unemployment rate Meanwhile, according to data released by the Census and Statistics Department on Tuesday, the unemployment rate increased to 3.5 per cent for the period between March and May, up from 3.4 per cent for the period between February and April. The underemployment rate also rose to 1.4 per cent between March and May, from 1.3 per cent for the February-April period. 'Total employment fell by around 12,400 to 3,664,700, while the labour force dropped by around 6,000 to 3,800,500,' the government said on Tuesday.
RTHK
02-06-2025
- Business
- RTHK
Retail sales drop for 14th month in a row
Retail sales drop for 14th month in a row Retail sales dropped by 2.3 percent year-on-year in April to an estimated HK$28.9 billion. File photo: RTHK Retail sales dropped for the 14th month in a row in April, although the government said the sector's performance has shown signs of stabilisation. Figures from the Census and Statistics Department showed the value of total retail sales dropped by 2.3 percent year-on-year to an estimated HK$28.9 billion. This was lower than the revised 3.5 percent decline recorded in March. Sales of motor vehicles and parts fell the most, by more than 53 percent compared to the same period last year. This was followed by a 16.7 percent decline in sales of furniture and fixtures. Combining the first four months of the year, the value of total sales dropped by 5.6 percent year-on-year. A government spokesman said April's decline was modest and had narrowed compared to previous months. Looking ahead, he said the administration's promotion of tourism and mega events will help stimulate the consumption market. Increased wages and sustained and steady mainland economic growth will also bolster consumption sentiment, he added.
RTHK
02-06-2025
- Business
- RTHK
Retail sales drop for 14th month in a row
Retail sales drop for 14th month in a row Retail sales dropped by 2.3 percent year-on-year in April to an estimated HK$28.9 billion. File photo: RTHK Retail sales dropped for the 14 month in a row in April, although the government said the sector's performance has shown signs of stabilisation. Figures from the Census and Statistics Department showed the value of total retail sales dropped by 2.3 percent year-on-year to an estimated HK$28.9 billion. This was lower than the revised 3.5 percent decline recorded in March. Sales of motor vehicles and parts fell the most, by more than 53 percent compared to the same period last year. This was followed by a 16.7 percent decline in sales of furniture and fixtures. Combining the first four months of the year, the value of total sales dropped by 5.6 percent year-on-year. A government spokesman said April's decline was modest and had narrowed compared to previous months. Looking ahead, he said the administration's promotion of tourism and mega events will help stimulate the consumption market. Increased wages and sustained and steady mainland economic growth will also bolster consumption sentiment, he added.
RTHK
26-05-2025
- Business
- RTHK
City's exports grow 14.7pc in April
City's exports grow 14.7pc in April Hong Kong's foreign trade stayed on a rising trajectory last month, with both exports and imports advancing about 15 percent year on year. Photo: RTHK Hong Kong's foreign trade stayed on a rising momentum last month, with both exports and imports growing by nearly 15 percent year on year to beat analysts' expectations. Census and Statistics Department figures on Monday showed that exports rose for the 14th month in a row, up by 14.7 percent year on year to HK$434.5 billion in April. That was down from the 18.5 percent annual growth seen in March, but reflected a maintenance of the growth momentum despite the impact of high US tariffs. Imports rose for a fourth consecutive month, increasing by 15.8 percent year on year to HK$450 billion, compared with the 16.6 percent growth in March. The latest figures left the city with a trade deficit of almost HK$16 billion, or 3.6 percent of the value of imports of goods. By region, total exports to Asia as a whole grew notably by 20.8 percent year on year, with imports by Malaysia rocketing up by more than 61 percent and followed by Vietnam's 48 percent. Exports to the United States also remained in the expansion territory but rose by only 1 percent. Exports to Netherlands, the UK and South Korea, however, fell between 24 and 38 percent. The city imported heavily from Vietnam last month, as the total value of imports from the country more than doubled. Looking ahead, a government's spokesperson noted that "as international trade tensions have eased somewhat of late, the headwinds and uncertainties in the external environment have lessened to some extent". "The government will continue to closely monitor changes in the external environment and stay vigilant to the potential impacts brought about by shifts in trade policies," the spokesperson added. For the first four months of the year, exports grew by 11.9 percent year on year while imports advanced by 11.4 percent.
HKFP
21-05-2025
- Business
- HKFP
Hong Kong labour chief defends imported labour schemes after unemployment rate rises
The Hong Kong labour minister has defended the government's schemes to import non-local workers following criticism that the programmes have led to a rising unemployment rate in the city. 'I have noticed that recent comments have linked the unemployment situation in certain industries to imported labour. I must emphasise that the government's manpower policy has always prioritised local workers,' Secretary for Labour and Welfare Chris Sun said in a Chinese-language Facebook post on Tuesday. Sun's statement comes after the city recorded higher unemployment and underemployment rates – a record high since early 2023. Hong Kong's unemployment rate for the February-April period rose to 3.4 per cent, an increase of 0.2 percentage points compared with the January-March rate, according to the Census and Statistics Department's figures released on Tuesday. Meanwhile, the underemployment rate for the February-April period increased to 1.3 per cent, also a 0.2 percentage point rise compared with the January-March rate. Sun suggested that local workers and unions file a report with the Labour Department should they suspect an employer 'has replaced local employees with imported workers.' He added, 'I reiterate that employers cannot replace existing local employees with imported labour. If layoffs are necessary, employers should first reduce imported workers.' Chau Siu-chung, a pro-establishment lawmaker for the labour sector, wrote on Facebook on Tuesday that sectors such as catering and construction, which allow imported workers, had experienced a 'significant rise' in unemployment rates. Unemployment in both the construction and catering sectors from February to April has risen to 5.7 per cent, much higher than the general unemployment rate, he said, citing the government's data. 'On one hand, there is a large influx of foreign labour, on the other hand, more and more locals are becoming unemployed. This situation is concerning,' Chau said in the Chinese-language post. He also wrote that some employers fired local employees soon after hiring imported workers. The Hong Kong Federation of Trade Unions (FTU), a pro-establishment political party, also said that sectors eligible for non-local hires had reported a significant increase in unemployment rates. It urged the government to review various imported labour programmes, especially the Enhanced Supplementary Labour Scheme (ESLS), which permits non-local hires without quota limits. Expanded schemes Hong Kong expanded a series of imported labour schemes two years ago, citing a labour shortage. In June 2023, the government increased the quota for non-local workers in the construction and transport industries and residential care homes. In September 2023, the ESLS was launched. The scheme, which is set to end in September, allows Hong Kong employers to import workers for 26 types of jobs that were previously only open to local residents, such as cashiers, hair stylists, sales assistants, and waiters. As of the end of March, the city has imported more than 54,000 non-local workers under ESLS. Among them, more than 8,900 non-local workers worked as waiters – the most popular job taken up by imported workers – followed by junior cooks, according to the Labour and Welfare Bureau.
