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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

Officials to visit Indochina Peninsula

Secretary for Financial Services & the Treasury Christopher Hui and Secretary for Commerce & Economic Development Algernon Yau will depart for a visit to the Indochina Peninsula tomorrow afternoon.

 

On December 11, Mr Hui and Mr Yau will visit Vientiane of Laos. Mr Hui will then continue his visit to Ho Chi Minh City and Hanoi, Vietnam from December 12, while Mr Yau will return to Hong Kong on the same day.

 

The visit aims to update the Laotian and Vietnamese business communities on opportunities in Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area, and promote Hong Kong's financial, commercial and professional services, in addition to enhancing collaboration with the two countries in the areas of finance and trade.

 

Mr Hui and Mr Yau will meet senior officials, representatives from major financial institutes and business chambers during the visit.

 

In Vietnam, Mr Hui will address a business luncheon as well as a gala dinner.

 

During their absence, Under Secretary for Financial Services & the Treasury Joseph Chan and Under Secretary for Commerce & Economic Development Bernard Chan will be the acting secretaries. 


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