XN000022-1990-06-19 — Page 3

2

JESDAY, JUNE 19, 1990

IT SHOULD BE NOTED THAT THE FINANCING SECTOR MENTIONED ABOVR EXCLUDES BANKS AND DEPOSIT-TAKING COMPANIES WHICH ARE SEPARATELY COVERED UNDER THE 1988 SURVEY OF BANKS, DEPOSIT-TAKING COMPANIES AND REPRESENTATIVE OFFICES OF FOREIGN BANKS, THE RESULTS OF WHICH WILL BE PUBLISHED IN THE MARCH 1990 ISSUE OF THE HONG KONG MONTHLY DIGEST OF STATISTICS.

IN SUMMARY, THE NUMBER OF BANKS AND DEPOSIT-TAKING COMPANIES (EXCLUDING REPRESENTATIVE OFFICES OF FOREIGN BANKS) IN OPERATION IN

DECREASED BY 4 PER CENT TO 428 WHEN COMPARED WITH 1987.

1988

IN

EXPENSES

WAGES AND SALARIES PAID AND OTHER EMPLOYEE BENEFITS OFFERED 1988 AMOUNTED TO $8,526 MILLION (+22 PER CENT) AND OPERATING TO $5,478 MILLION (+14 PER CENT).

FROM

NET INTEREST RECEIPTS (I.B. INTEREST RECEIVED MINUS INTEREST PAID) ROSE BY 19 PER CENT TO $19,681 MILLION, WHILE RECEIPTS SERVICES RENDERED INCREASED BY 10 PER CENT TO $5,710 MILLION.

IN THE BUSINESS SERVICES SECTOR, THERE WERE 8,097 ESTABLISHMENTS IN OPERATION IN 1988, AN INCREASE OF 21 PER CENT OVER 1987. THESE INCLUDE LEGAL, ACCOUNTING, AUDITING AND DATA PROCESSING FIRMS; COMPANIES ENGAGED IN BUSINESS MANAGEMENT AND CONSULTANCY, ADVERTISING, DESIGNING, SECRETARIAL AND EMPLOYMENT SERVICES; TECHNICAL SERVICES AND MACHINERY AND EQUIPMENT RENTAL COMPANIES WHICH ENGAGED TOTAL OF 73,686 PERSONS, AN INCREASE OF 12 PER CENT OVER 1987.

A

THEY SPENT $6,641 MILLION ON COMPENSATION OF EMPLOYEES (+26 PER CENT) AND $11,172 MILLION ON OPERATING EXPENSES (+21 PER CENT), AND GENERATED $24,137 MILLION OF BUSINESS RECEIPTS AND OTHER INCOME (+27 PER CENT). THE SECTOR CONTRIBUTED $12,665 MILLION TO THE GROSS DOMESTIC PRODUCT (+34 PER CENT), MEASURED IN TERMS OF VALUE ADDED.

IN THE INSURANCE SECTOR, WHICH

INCLUDES

LIFE

GENERAL AND

OTHER INSURANCE-

INSURERS, INSURANCE AGENTS AND COMPANIES PROVIDING RELATED SERVICES, THE NUMBER OF ESTABLISHMENTS INCREASED BY 16 CENT TO 1,650, WHILE THE TOTAL NUMBER OF PERSONS ENGAGED INCREASED 15 PER CENT TO 17,851. THIS SECTOR GENERATED BUSINESS RECEIPTS AND OTHER INCOME (+17 PER CENT).

KITRAVMAT

$14,133

PER BY

MILLION OF

COMPENSATION OF EMPLOYEES AMOUNTED ΤΟ $2,002 MILLION AND OPERATING EXPENSES TO $1,435 MILLION, REPRESENTING INCREASES OF 34 PER CENT AND 29 PER CENT RESPECTIVELY OVER 1987.

THE 1988 SURVEY WAS ONE IN A SERIES OF ANNUAL SURVEYS CONDUCTED FOR THE PURPOSE OF ASCERTAINING THE STRUCTURE AND OPERATING CHARACTERISTICS OF THE STORAGE, COMMUNICATION, FINANCING, INBURANCE AND BUSINESS SERVICES SECTORS AND OF UPDATING THEIR CONTRIBUTIONS THE GROSS DOMESTIC PRODUCT OF HONG KONG.

ΤΟ

DATA COLLECTED IN THE SURVEY INCLUDED TYPE OF OWNERSHIP, FLOOR AREA, NUMBER OF PERSONS ENGAGED, NUMBER OF EMPLOYEES, COMPENSATION OF EMPLOYEES, OPERATING EXPENSES, BUSINESS RECEIPTS AND OTHER INCOMB, AND CAPITAL EXPENDITURE.

/DESCRIPTIONS OF