**********************************************************
The Census and Statistics Department (C&SD) released today (November 30) results of the 2008 Annual Survey of Storage, Communication, Financing, Insurance and Business Services; and the 2008 Annual Survey of Banks, Deposit-taking Companies, Restricted Licence Banks and Representative Offices of Foreign Banks.
According to these two surveys, total receipts (including business receipts and other income) of the six industries covered, viz. the storage, communications, financing (except banking), business services, insurance and banking industries, amounted to $975.6 billion in 2008, representing a decrease of 12% when compared with 2007.
Comparing 2008 with 2007, total receipts of the insurance industry decreased significantly by 40%, mainly attributable to the decline in life insurance business. The banking and financing (except banking) industries also recorded a decrease in total receipts by 8% and 6% respectively. On the other hand, total receipts of the communications, storage and business services industries increased by 9%, 7% and 2% respectively.
Gross surplus (i.e. total receipts less operating expenses, compensation of employees and value of purchases of goods for sale) of the storage, communications, financing (except banking) and business services industries taken together amounted to $242.0 billion in 2008, representing a decrease of 7% when compared with 2007.
Value added of these four industries taken together also decreased by 19% when compared with 2007 to $178.7 billion. Within this total, value added of the financing (except banking) industry decreased considerably by 35%, whereas that of the communications and business services industries dropped slightly by 2% and 1% respectively. On the other hand, value added of the storage industry increased by 21%.
Owing to the special features of business operations in the insurance and banking industries, gross surplus and value added of these two industries were not compiled.
Principal statistics in respect of the six industries covered by these two surveys are given in the table attached.
The 2008 Annual Survey of Storage, Communication, Financing, Insurance and Business Services was conducted from January to October 2009, while the 2008 Annual Survey of Banks, Deposit-taking Companies, Restricted Licence Banks and Representative Offices of Foreign Banks was conducted from May to October 2009.
More detailed results of these two surveys will be given in the "Report on 2008 Annual Surveys of Storage, Communication, Banking, Financing, Insurance and Business Services". The publication is available for downloading free of charge from the website of C&SD at ˇ]www.censtatd.gov.hk/products_and_services/products/publications/statistical_report/index.jspˇ^. Users can download the 2008 edition of the publication as from end-December 2009.
For enquiries about the results of these two surveys, please contact the Business Services Statistics Section of the C&SD at telephone number 2894 8149 or email address: ˇ]business-services@censtatd.gov.hkˇ^.
Ends/Monday, November 30, 2009
Issued at HKT 16:32
NNNN
