XN000022-1990-06-19 — Page 2

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TUESDAY, JUNE 19, 1990

SUMMARY RESULTS OF SURVEY OF STORAGE, COMMUNICATION, FINANCING, INSURANCE AND BUSINESS SERVICES

A TOTAL OF 189 STORAGE ESTABLISHMENTS WERE IN OPERATION DURING THE WHOLE OR PART OF 1988 (A DECREASE OF 3 PER CENT COMPARED WITH 1987), WHICH ENGAGED A TOTAL OF 4,313 PERSONS (+14 PBR CENT), ACCORDING TO THE SUMMARY RESULTS OF THE 1988 SURVEY OF STORAGE, COMMUNICATION, FINANCING, INSURANCE AND BUSINESS SERVICES TODAY (TUESDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

RELEASED

OF BUSINESS

MILLION ON

THESE ESTABLISHMENTS GENERATED $1,764 MILLION RECEIPTS AND OTHER INCOME (+27 PER CENT), AND SPENT $323 COMPENSATION OF EMPLOYEES (+40 PER CENT) AND $1,104 MILLION ON OPERATING EXPENSES (+27 PER CENT).

THE VALUE ADDED OF THIS SECTOR INCREASED BY 23 PER CENT TO $826 MILLION IN 1988. VALUE ADDED 18 A MEASURE OF THE CONTRIBUTION OF AN ECONOMIC SECTOR TO HONG KONG'S GROSS DOMESTIC PRODUCT.

ALL VALUR FIGURES IN THIS PRESS RELEASE ARR EXPRESSED IN CURRENT PRICE TERMS. PERCENTAGE CHANGES DERIVED FROM THESE FIGURES HAVE NOT BEEN ADJUSTED FOR PRICE INCREASES.

IN THE COMMUNICATION SECTOR WHICH INCLUDES TELEPHONE, TELEGRAPH, COURIER, RADIO-PAGING AND OTHER TELECOMMUNICATION COMPANIES, THERE WERK 286 ESTABLISHMENTS IN OPERATION IN 1988, AN INCREASE OF 42 PER CENT OVER 1987.

ON THE SAME BASIS OF COMPARISON, THE TOTAL NUMBER OF PERSONS ENGAGED ROSE BY 12 PER CENT TO 24,803. COMPENSATION OF EMPLOYEES AMOUNTED TO $2,347 MILLION (+19 PER CENT) AND OPERATING $4,085 MILLION (+30 PER CENT).

EXPENSES TO

BUSINESS RECEIPTS AND OTHER INCOME INCREASED BY 24 PER CENT то $12,373 MILLION, WHILE THE CONTRIBUTION OF THIS SECTOR TO THE GROBS DOMESTIC PRODUCT IN TERMS OF VALUE ADDED INCREASED BY 22 PER CENT $7,115 MILLION.

то

WITH 1987. TH18 CREDIT INSTITUTIONS, HOLDING COMPANIES, AND DEALERS, MONEY

IN THE FINANCING SECTOR, 2,958 ESTABLISHMENTS WERE IN OPERATION DURING 1988, AN INCREASE OF 22 PER CENT COMPARED SECTOR COMPRISES LOAN AND MORTGAGE COMPANIES, FINANCE LEASING, PAWNSHOPS, INVESTMENT AND SECURITIES, FUTURES AND GOLD BULLION BROKERS CHANGERS AND FOREIGN EXCHANGE BROKERS AND DEALERS.

COMPARED WITH 1987, THE SECTOR'S TOTAL NUMBER OF PERSONS ENGAGED WENT UP BY 21 PER CENT TO 32,013. COMPENSATION OF EMPLOYEES AMOUNTED TO $4,603 MILLION (+25 PER CENT) AND OPERATING EXPENSES TO $15,436 MILLION (+36 PER CENT). BUSINESS RECEIPTS AND OTHER INCOME GREW BY 4 PER CENT TO $42,876 MILLION.

HOWEVER, THIS SECTOR'S VALUE ADDED, WHICH DID NOT INCLUDE THAT OF INVESTMENT AND HOLDING COMPANIES DUE TO THE SPECIAL FEATURES OF THEIR BUSINESS OPERATION, DECREASED BY 18 PER CENT TO $4,770 MILLION.

/IT SHOULD