Insights into the current state of small and medium-sized businesses: april 2024 survey results
The Census and Statistics Department (C&SD) released today (May 10) the results of the Monthly Survey on Business Situation of Small and Medium-sized Enterprises (SMEs) for April 2024.
The current diffusion index (DI) on business receipts amongst SMEs decreased from 45.5 in March 2024 in the contractionary zone to 43.8 in April 2024, whereas the one-month's ahead (i.e. May 2024) outlook DI on business receipts was 46.3. Analysed by sector, the current DIs on business receipts for all the surveyed sectors dropped in April 2024 as compared with previous month, particularly for the restaurants (from 41.4 to 38.3) and logistics (from 44.6 to 41.7).
The current DI on new orders for the import and export trades decreased from 47.4 in March 2024 to 46.4 in April 2024, whereas the outlook DI on new orders in one month's time (i.e. May 2024) was 45.9.
Commentary
A Government spokesman said that overall business sentiment among SMEs and their expectations on the business situation in one month's time softened in April. The overall employment situation also eased somewhat.
The spokesman added that while the complicated external environment would continue to affect business sentiment in the near term, further growth of the economy should render support. The Government will monitor the situation closely.
Further information
The Monthly Survey on Business Situation of Small and Medium-sized Enterprises aims to provide a quick reference, with minimum time lag, for assessing the short-term business situation faced by SMEs. SMEs covered in this survey refer to establishments with fewer than 50 persons engaged. Respondents were asked to exclude seasonal fluctuations in reporting their views. Based on the views collected from the survey, a set of diffusion indices (including current and outlook diffusion indices) is compiled. A reading above 50 indicates that the business condition is generally favourable, whereas that below 50 indicates otherwise. As for statistics on the business prospects of prominent establishments in Hong Kong, users may refer to the publication entitled "Report on Quarterly Business Tendency Survey" released by the C&SD.
The results of the survey should be interpreted with care. The survey solicits feedback from a panel sample of about 600 SMEs each month and the survey findings are thus subject to sample size constraint. Views collected from the survey refer only to those of respondents on their own establishments rather than those on the respective sectors they are engaged in. Besides, in this type of opinion survey on expected business situation, the views collected in the survey are affected by the events in the community occurring around the time of enumeration, and it is difficult to establish precisely the extent to which respondents' perception of the business situation accords with the underlying trends. For this survey, main bulk of the data were collected around the last week of the reference month.
More detailed statistics are given in the "Report on Monthly Survey on the Business Situation of Small and Medium-sized Enterprises". Users can browse and download the publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080015&scode=300).
Users who have enquiries about the survey results may contact Industrial Production Statistics Section of the C&SD (Tel: 3903 7246; email: sme-survey@censtatd.gov.hk).
Source: AI-generated images
Hksar government condemns anti-china organization's attacks on basic law article 23 legislation
The Hong Kong Special Administrative Region (HKSAR) Government on May 20 strongly condemned the "briefing" published by anti-China organisation "Hong Kong Watch", which made untruthful, slandering and smearing remarks against the legislation of Article 23 of the Basic Law and requested the Government of the United Kingdom (UK) to impose so-called "sanctions" on HKSAR Government officials, deliberately misleading the public and smearing the Hong Kong National Security Law (NSL) and the Safeguarding National Security Ordinance (the Ordinance).
A spokesman for the HKSAR Government said, "The so-called 'sanctions' mentioned in the 'briefing' smack of despicable political manipulation to intimidate the HKSAR officials safeguarding national security. These grossly interfere in China's internal affairs and Hong Kong affairs, and violate the international law and the basic norms governing international relations. The HKSAR despises such so-called 'sanctions' and is not intimidated by such a despicable behaviour. The HKSAR will resolutely continue to discharge the duty of safeguarding national security."
The HKSAR Government spokesman said, "The HKSAR is an inalienable part of the People's Republic of China, and as a local administrative region that enjoys a high degree of autonomy under the principle of 'one country, two systems', comes directly under the jurisdiction of the Central People's Government. The core essence of the Sino-British Joint Declaration is about China's resumption of the exercise of sovereignty over Hong Kong. It did not authorise the UK to interfere in Hong Kong's affairs after its return to the motherland. The UK has no sovereignty, jurisdiction or right of supervision over Hong Kong after its return to the motherland."
The spokesman also said, "The HKSAR Government steadfastly safeguards the rights and freedoms enjoyed by Hong Kong people as protected under the law. Since Hong Kong's return to the motherland, human rights in the city have always been robustly guaranteed constitutionally by both the Constitution and the Basic Law. The NSL and the Ordinance also clearly stipulate that human rights shall be respected and protected in safeguarding national security in the HKSAR, and that the rights and freedoms, including the freedoms of speech, of the press, of publication, of association, of assembly, of procession and of demonstration, that Hong Kong residents enjoy under the Basic Law and the provisions of the International Covenant on Civil and Political Rights (ICCPR) and the International Covenant on Economic, Social and Cultural Rights as applied to Hong Kong, shall be protected in accordance with the law. Nonetheless, just as the case with other places in the world, such rights and freedoms are not absolute. The ICCPR also expressly states that some of them may be subject to restrictions as prescribed by law that are necessary for protection of national security, public safety, public order or the rights and freedoms of others, etc.
"Following the successful enactment of the Ordinance, the shortcomings in the legal system and enforcement mechanisms for the HKSAR to safeguard national security are addressed. We must once again emphasise that the Ordinance is a piece of legislation to defend against external forces that endanger our national security, acting like a sturdier door and a more effective door lock to defend our home. The HKSAR Government strongly urges these organisations with ulterior motives to stop smearing and interfering in Hong Kong affairs which are internal affairs of China. It is incumbent upon these organisations to ensure that their remarks concerning the NSL and the Ordinance are fair and just, and stop making scaremongering remarks.
"We must also point out that the HKSAR law enforcement agencies have been taking law enforcement actions based on evidence and strictly in accordance with the law in respect of the acts of the persons or entities concerned, paying no regard to their political stance, background or occupation.
"Not only is 'Hong Kong Watch' an anti-China organisation, many of its members are also anti-China and destabilising forces in the front line, who have called for so-called 'sanctions' by foreign countries against officials of the Central People's Government and the HKSAR Government repeatedly. Members of the public in Hong Kong and the international community should see the organisation in its true colours and not to be misled by its skewed remarks with ulterior motives. The HKSAR Government will continue to safeguard national security fearlessly, so that the HKSAR can focus its efforts on developing the economy, improving people's livelihood and maintaining the long-term prosperity and stability of Hong Kong."
