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Jan retail sales up 0.9%

The value of total retail sales in January, provisionally estimated at $36.5 billion, rose 0.9% compared with the same month in 2023, the Census & Statistics Department announced today.   After netting out the effect of price changes over the same period, the provisional estimate represents a 1.2% year-on-year decrease.   Of the total retail sales value in January, online sales accounted for 6.5%. Provisionally estimated at $2.4 billion, the value of this segment went down by 20.9% compared with a year earlier.   Noting that retail sales tend to show greater volatility in the first two months of a year due to the timing of the Lunar New Year, the department said the year-on-year comparison of the figures might have been affected to a certain extent.   The value of sales of jewellery, watches and clocks, and valuable gifts increased 25.2% compared with January 2023.   Increases were also recorded in the sales of other consumer goods not elsewhere classified (up 7

Capitalising on HK's advantages

Numerous renowned Mainland companies have chosen to list in Hong Kong, capitalising on the city’s distinct advantages.


Among them is a leading Mainland sportswear company which recently invested in expanding its headquarters in Hong Kong.


The group’s Executive Chairman Li Ning explained that it is Hong Kong’s robust foundation, in addition to its pool of professionals in the areas of trade, product design, brand retail management and supply chain management that makes the city attractive for business.


Mr Li noted that the city’s free and efficient business environment, highly regarded rule of law, free port status, low taxation and quick access to information around the world, are of paramount importance to the growth and development of a company, whether it be conducting business on the Mainland or expanding globally. 


He added that these are just some of the reasons why Hong Kong remains a top choice location for overseas and Mainland companies to manage their regional businesses.


Sound infrastructure
Some economists have forecast a sluggish outlook for capital markets in the coming year, however, this has not deterred one financial group.


Its Founder Charles Li explained that as a Hong Kong resident, it was a matter of course to invest in the city which has an established and successful capital market on a global scale. 


He also believes Hong Kong’s infrastructure, legal system, risk control measures and abundance of talented individuals make it a natural hub for business development, and that despite the recent external challenges, it can build on its strong infrastructure and be adequately prepared for market fluctuations.


“We have encountered a multitude of trials and each crisis has endowed our market with greater resilience and resistance to risks,” he added.

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