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These are some of the major findings of the 1993 Survey of Storage, Communication, Financing, Insurance and Business Services, released today (Thursday) by the Census and Statistics Department. The survey was conducted from May 1994 to early 1995.
All value figures in this press release are expressed in current price terms. Percentage changes derived from these figures have not been adjusted for price changes. Caution should therefore be taken in interpreting the survey results.
In 1993, there were some 4,100 establishments operating in the financing (except banking) industry, an increase of 9% over 1992. The industry comprises loan and mortgage companies, credit institutions, finance leasing companies, pawnshops, investment and holding companies, securities, futures and gold bullion brokers and dealers, money changers and foreign exchange brokers and dealers.
The survey did not include banking institutions and deposit-taking companies which were separately covered under the 1993 Survey of Banks, Deposit-taking Companies, Restricted Licence Banks and Representative Offices of Foreign Banks. The results of the latter survey will, however, be included also in the report on the former survey.
The financing (except banking) industry generated $95.3 billion of total receipts, a significant increase of 36% over 1992.
The gross surplus of the industry accounted for 62.0% of the total receipts. This was 4.8 percentage points higher than the corresponding figure for 1992.
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On the other hand, the total operating expenditure -- comprising compensation of the of employees, operating expenses and value of purchases of goods for sale industry accounted for 38.0% of the total receipts, a decrease of 4.8 percentage points from the figure for 1992.
The total value added of the financing (except banking) industry, a measure of the industry's contribution to Hong Kong's Gross Domestic Product, increased by 67% to $12.5 billion in 1993. It accounted for 13.2% of the total receipts in 1993, which was 2.4 percentage points higher than the figure for 1992. It should, however, be noted that the total value added calculated for the industry did not include that for investment and holding companies owing to the special features of their business operations.
In the insurance industry, which includes general insurers, life insurers and insurance agents, there were some 2,300 establishments in operation in 1993, an increase of 25% over 1992.
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