*********************************************************
The Statistics Advisory Board held a meeting today (June 13) to review the main scope of government statistical work and its recent developments.
At the meeting, members were updated on the major statistical exercises to be carried out following the availability of a new population base from the 2006 Population By-census (06BC) conducted by the Census and Statistics Department (C&SD).
"With the availability of the 06BC results, an updated set of population projections, using the mid-2006 population estimates as the base and covering the period from 2007 to 2036, is being prepared. In addition, a series of projection exercises in respect of labour force, manpower and household will be carried out. The results of these projection exercises will provide the necessary quantitative information for planning and policy formulation for the strategic development of Hong Kong on various fronts," the Commissioner for Census and Statistics and Chairman of the Statistics Advisory Board, Mr Fung Hing-wang, said.
Members were briefed on the updating of the international guidelines for national account statistics, i.e. the 1993 System of National Accounts (1993 SNA) guidelines. Initiated by the United Nations Statistical Commission, the updating of the 1993 SNA aimed to bring national accounts in line with the new economic environment, advances in methodological research and needs of statistics users. Among the major aspects recommended for updating in the 1993 SNA, the capitalisation of research and development expenditure as capital formation and the new statistical treatments of goods sent abroad for processing and merchanting would have significant implications for the presentation and analysis of the Gross Domestic Product (GDP) statistics of Hong Kong. The updated version of the 1993 SNA, i.e. 1993 SNA Rev. 1, would be released by 2008. Accordingly, C&SD would identify possible areas for enhancing Hong Kong's GDP statistics with reference to recommendations in the 1993 SNA Rev. 1.
Also reported at the meeting was the progress regarding the development of Foreign Affiliates Trade in Services (FATS) statistics for Hong Kong. C&SD had been conducting a range of studies relating to the statistical framework for measuring economic activities of foreign affiliates in Hong Kong. The first set of inward FATS statistics for the reference year 2004 was released in October 2006. While the inward FATS statistics were being updated for the reference year 2005, the feasibility of collecting outward FATS information for Hong Kong would be studied.
Members noted that, along with the growing importance of Hong Kong as a leading international financial centre and a premier capital formation centre for the mainland of China, the asset management (AM) industry had seen robust proliferation in the financial services sector. To help gauge the economic contribution, operating characteristics and short-term performance of the AM industry in Hong Kong, C&SD had been compiling relevant statistics since 2005. Salient statistics on the AM industry, which were released for the first time in April 2007, were highlighted at the meeting.
Members discussed the compilation and development of statistics on sectoral concentration (SSC) in Hong Kong. SSC helped throw light on the extent to which the economic activities in a specific sector were concentrated in just a few establishments and facilitated the analysis of business concentration in selected sectors of Hong Kong. At the meeting, members also reviewed the future development plans on the compilation of SSC in Hong Kong and supported C&SD in taking the plans forward in view of the growing needs for SSC.
At the meeting, the Board also reviewed other statistical developments since the previous meeting, including the introduction of new/enhanced functions to the C&SD Website; and the recent efforts made in strengthening the communication and coordination with the international statistical community.
The Statistics Advisory Board is a non-statutory advisory body which advises the Commissioner for Census and Statistics on matters pertaining to government statistical work. The terms of reference and composition of the Board can be found on the C&SD Website (www.censtatd.gov.hk/about_us/our_advisory_board/index.jsp). Agenda of the recent meetings of the Board together with the press releases on key issues discussed are also posted there.
Ends/Wednesday, June 13, 2007
Issued at HKT 17:00
NNNN
