Q3 Hong Kong Finance Industry Receipts Up 100%
According to figures released by the Census & Statistics Department on
Monday, the business receipts of all service industries in Hong Kong rose in
value in the third quarter this year over the same period last year. Among them, finance-industry business receipts rose 100.1%, those for banking
47.7%, and those for insurance industries 41.8%. The Department explained that the rise was attributable to the buoyant local
stock market, the continuous growth of the banking industry's non-interest income,
and the growth in life-insurance business. Other service industries which recorded notable increases in business receipts
included: real estate (+27.8%), hotels (+15.7%), restaurants (+15.1%), wholesale/retail
(+13.6%), business services (+12%), storage (+12%) and transport (+11.6%). Analysed by service domain, business receipts of the tourism, convention and
exhibition services domain grew 17.6%, while that of computer and information
services rose 1.6%. Comparing the third quarter with the second quarter, the business receipts
of most service industries also recorded increases. Larger rises were recorded
in the finance (+21.1%), import and export trade (+12.2%), transport (+12%)
and film entertainment (+10.2%) industries. Among service industries which recorded decreases in business receipts, a larger
drop was recorded in the hotels industry (-1.3%). .
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