Number of Tourists up 17.8% in 8 Months
The number of tourists to Hong Kong increased by 17.8 per cent in the first eight months of the year, according to the Hong Kong Tourist Association (HKTA). There were 4.45 million visitors between January and August, against 3.78 million in the same period last year.
Retails sales value up 15% in July
The estimated value of total retail sales in July increased by 15 per cent over the same month last year to HK$13.6 billion (US$1.76 billion). After discounting the effect of price changes over the period, total retail sales increased by 10 per cent in volume terms. The increase was mainly attributable to the growth in consumer spending on motor vehicles, clothing, jewellery and watches.
Manufacturers' orders-on-hand up 1%
The volume of order-on-hand for Hong Kong's 200 largest manufacturers increased by 1 per cent in July as compared with the same month last year.
Sale and Purchase of Flats Decreases in August
The number of sale and purchase agreements of flats registered in the Land Office in August decreased by 0.03 per cent as compared with the previous month, according to the monthly statistics on property transactions released by the Registrar General's Department. Some 12,600 agreements were registered during the month worth a total of about HK$32.22 billion (US$4.18 billion). The figure represents a drop of 29 per cent compared with August last year.
HK remains top target for U.S. companies
According to statistics published by the US Department of Commerce, direct US investment in Hong Kong increased to US$6.43 billion last year from US$6.18 billion in 1990. Hong Kong businesses in which there is US direct investment (at least 10 per cent equity share) had total assets of HK$16.7 billion (US$2.16 billion) in 1990, which rose to an estimated total of HK$17.3 billion (US$2.24 billion).
US Forest Products Office Launched
Hong Kong is to become the regional headquarters of the National Forest Products Association and the American Hardwood Export Council with the official opening of its new Southeast Asia office on September 15.
Nine Chinese Firms Seek HK Listing
The Hong Kong Stock Exchange is now considering the applications of nine mainland-based corporations seeking direct listings in Hong Kong. The nine companies, mostly heavy industrial business, were chosen by China's State Council.
6