Quarterly business receipts indices for service industries for first quarter of 2025
Business receipts in value terms of many major service industries showed increases of varying magnitudes in the first quarter of 2025 when compared with the first quarter of 2024, according to the provisional figures of business receipts indices released today (June 10) by the Census and Statistics Department (C&SD).
Comparing the first quarter of 2025 with the first quarter of 2024, double-digit increases were recorded in business receipts indices of the financing (except banking) (+32.5%), insurance (+23.1%), import/export trade (+19.4%) and banking (+19.0%) industries. On the other hand, decreases were recorded in business receipts indices of the real estate (-6.7%) and retail (-6.5%) industries during the same period.
Analysed by service domain, business receipts index of the computer and information technology services domain increased by 60.2% year-on-year during the same period, while that of the tourism, convention and exhibition services domain also increased by 1.1% year-on-year.
On a seasonally adjusted quarter-to-quarter comparison, business receipts in value terms of many major service industries recorded increases of varying magnitudes in the first quarter of 2025 when compared with the fourth quarter of 2024. In particular, double-digit increases were recorded in business receipts indices of the insurance (+32.5%), import/export trade (+20.3%) and banking (+19.9%) industries. On the other hand, business receipts index of the real estate industry decreased by 5.7% during the same period.
Analysed by service domain, comparing the first quarter of 2025 with the fourth quarter of 2024 on a seasonally adjusted basis, business receipts index of the computer and information technology services domain increased by 50.3%, while that of the tourism, convention and exhibition services domain also increased by 0.7%.
Commentary
A Government spokesman said that business receipts of many service industries recorded increases in the first quarter of 2025 over a year earlier. More notable increases in business receipts were seen for the financing (except banking), insurance, import/export trade and banking industries.
Looking ahead, business of the service industries should be supported by economic growth. Continued growth of the Mainland economy and the Hong Kong Government's various measures to boost economic momentum should be conducive to the businesses of the services industries, though some industries may be affected by the continued headwinds stemming from the uncertainties in the external environment and the changing consumption patterns of residents and visitors in the local market.
Further information
Table 1 presents the business receipts indices and their corresponding year-on-year rates of change in respect of selected service industries and service domains for the recent five quarters, while Table 2 shows the corresponding quarter-to-quarter rates of change in the business receipts indices for the recent five quarters based on the seasonally adjusted series.
The revised figures of business receipts indices for the first quarter of 2025 will be released at the website of the C&SD (www.censtatd.gov.hk/en/web_table.html?id=660-69001) on July 18, 2025.
Data for compiling the business receipts indices are mainly based on the Quarterly Survey of Service Industries conducted by the C&SD, supplemented by relevant data provided by the Hong Kong Monetary Authority and the Hong Kong Tourism Board.
A service domain differs from a service industry in that it comprises those economic activities which straddle different industries but are somehow related to a common theme. It may include all activities carried out by all establishments in a service industry that is closely related to the domain. For a service industry that is less closely related, however, only a portion of the establishments in the industry or even only part of the economic activities of the establishments is related to the domain. Taking the tourism, convention and exhibition services domain as an example, it includes all services of convention and exhibition organisers, short-term accommodation services and services of travel agents, and some of the services (only those involving visitors as customers) of restaurants, retailers and transport operators.
The classification of service industries follows the Hong Kong Standard Industrial Classification Version 2.0, which is used in various economic surveys for classifying economic units into relevant industry classes.
More detailed statistics are given in the report "Quarterly Business Receipts Indices for Service Industries, First Quarter 2025". Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080006&scode=520).
For enquiries about the business receipts indices, please contact the Business Services Statistics Section of the C&SD (Tel: 3903 7274 or e-mail: business-receipts@censtatd.gov.hk).
Appointment of non-official members to ICAC-related committees announced
The Government announced today (January 1) that the Chief Executive has made appointments and reappointments to the four Independent Commission Against Corruption (ICAC) advisory committees, namely the Advisory Committee on Corruption (ACOC), the Operations Review Committee (ORC), the Corruption Prevention Advisory Committee (CPAC) and the Citizens Advisory Committee on Community Relations (CACCR), and to the ICAC Complaints Committee (ICC). All of the appointments and reappointments are for a term of two years with effect from January 1, 2026.
ACOC
The Chief Executive has reappointed Mr Bernard Charnwut Chan (in his capacity as the Chairman of the ORC), Professor Simon Ho Shun-man (in his capacity as the Chairman of the CACCR), Dr Kelvin Wong Tin-yau (in his capacity as the Chairman of the CPAC) and Mr Victor Lam Hoi-cheung as members of the ACOC. Ms Mary Huen Wai-yi and Mr David Liao Yi-chien have been newly appointed to the Committee as members.
Ms Huen is the Executive Director and Chief Executive Officer of a bank. She is the Chairperson of the Hong Kong Association of Banks. She is also a member of the Banking Advisory Committee of the Hong Kong Monetary Authority, the Hospital Authority and the Human Resources Planning Commission.
Mr Liao is the Co-Chief Executive of a bank. He is also a member of the Advisory Committee on Attracting Strategic Enterprises, the Advisory Committee on the Northern Metropolis and the Exchange Fund Advisory Committee.
The ACOC advises the Commissioner of the ICAC on any aspects of the problem of corruption in Hong Kong, and keeps the operational, staffing and administrative policies of the ICAC under review.
ORC
The Chief Executive has reappointed Mr Bernard Charnwut Chan as the Chairman of the ORC. Ms Clara Chan Yuen-shan, Mr Felix Li Kwok-hing and Ms Vivien Lau Man-yee have been reappointed to the Committee as members. Ms Kuok Hui-kwong has been newly appointed to the Committee as a member.
Ms Kuok is the Chairperson and Chief Executive Officer of a hotel group. She is also a member of the Appeal Board on Public Meetings and Processions and the Security and Guarding Services Industry Authority.
The ORC oversees all ICAC investigations and corruption complaints received to ensure that they are handled effectively and efficiently. It also examines circumstances where search warrants are authorised by the Commissioner, where persons have been put on bail for more than six months, and where investigations have been lasting for over a year or require substantial resources.
CPAC
The Chief Executive has reappointed Dr Kelvin Wong Tin-yau as the Chairman of the CPAC. Ms Carrie Lau Ka-wai and Mr Rex Mok Chung-fai have been reappointed to the Committee as members. Mr Donald Choi Wun-hing has been appointed as a new member of the Committee.
Mr Choi is the Managing Director of the Urban Renewal Authority. He is also a member of the Antiquities Advisory Board.
The CPAC receives and calls for reports from the ICAC about practices and procedures of government departments, public bodies and the private sector which may be conducive to corruption. It also advises the Commissioner on what areas should be examined and the degree of priority to be accorded to each.
CACCR
The Chief Executive has reappointed Professor Simon Ho Shun-man as the Chairman of the CACCR. Miss Pinky Lau Pik-yiu, Dr James Wong Kong-tin, Miss Jenny Yung Ching-yi and Ms Cally Kwong Mei-wan have been reappointed as members of the CACCR. Dr Kalwan Kwan Ming-tak has been appointed as a new member of the Committee.
Dr Kwan is the Honorary Lecturer of the Department of Sociology of the University of Hong Kong.
The CACCR advises the Commissioner on appropriate measures to foster public support in combating corruption and to educate the public against the evils of corruption. It also monitors community response to the ICAC's work and public attitudes towards corruption in general.
ICC
The Chief Executive has reappointed Executive Council Member Dr Lam Ching-choi as the Chairman of the ICC. Legislative Council (LegCo) Member Miss Grace Chan man-yee and Mr Lau Chun-hung have been reappointed as members of the ICC. LegCo Members Mr Chan Hok-fung and Ms Judy Chan Kapui, and Ms Irene Chow Man-ling have been appointed as new members of the ICC.
Mr Chan works in the banking industry. He is also a Non-executive Director of the Urban Renewal Authority.
Ms Chan is a full-time LegCo Member. She is also a member of the Fisheries Development Loan Fund Advisory Committee and the Hong Kong Housing Authority.
Ms Chow is the Executive Director of an investment company. She is also a member of the Airport Authority and the Standing Commission on Civil Service Salaries and Conditions of Service.
The ICC monitors the handling of non-criminal complaints against the ICAC, reviews the ICAC procedures and practices which may lead to complaints, and makes recommendations when necessary.
The Government extends its sincere appreciation to all outgoing members whose terms of office expired after December 31, 2025. Their valuable contributions to the work of the respective committees are greatly appreciated.
The updated non-official membership lists of the four ICAC advisory committees and the ICC are in the Annex.
