Hong Kong Businesses Optimistic, Survey Reveals

by Mary Swire, Tax-News.com, Hong Kong

31 October 2006

A survey conducted by the Hong Kong Census and Statistics Department has shown that significantly more respondents expect their business situation to be better in this year's fourth quarter than it was in the third.

The Quarterly Business Tendency Survey, conducted from September 11 to October 6, gauged views on short-term business performance from the senior management of 530 prominent establishments in Hong Kong's 10 major sectors.

Significantly more respondents in the wholesale and retail, restaurants and hotels, communications, real estate, and banks, financing and insurance sectors expect business to grow.

With regard to employment, respondents in all the sectors covered, except the business services sector, expect it to go up in the fourth quarter. Notably more respondents in the restaurants and hotels, transport and related services, and banks, financing and insurance sectors expect their number of people engaged to surge.

Respondents in all except the import and export trade, and communications sectors expect their selling price or service charge to go up. Significantly more respondents in the restaurants and hotels sector expect their price of food provided or charge for services rendered to surge.

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