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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

Qianhai development meeting held

Secretary for Constitutional & Mainland Affairs Erick Tsang and Shenzhen Vice Mayor Wang Shourui held the first meeting of the Task Force on the Development of the Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone in Shenzhen today.

 

At the meeting, the governments of Hong Kong and Shenzhen jointly learnt of the central government's requirements and objectives in regard to the Overall Development Plan for the Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone, and exchanged views on how to further promote the development of Qianhai and deepen the collaboration between Hong Kong and Shenzhen.

 

Mr Tsang remarked: “Qianhai is one of the major co-operation platforms in the Guangdong-Hong Kong-Macao Greater Bay Area.

 

“The development of the Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone is an important initiative for supporting Hong Kong's social and economic development; fostering a higher level of co-operation among Guangdong, Hong Kong and Macau; and establishing a new development paradigm in pursuing opening up.”

 

He also said today's meeting will lay a more solid foundation for the governments of Hong Kong and Shenzhen to jointly formulate the work of implementing the promotion of the development of Qianhai in the new era, and further enhance the high-quality co-operation between Hong Kong and Shenzhen.

 

Mr Tsang noted that the Hong Kong SAR Government will continue to lead all sectors of the community proactively to fully seize the opportunities of developing the bay area together and make new and greater contributions to the high-quality development and high-level opening up of the country.

 

Both sides arrived at a strong consensus to press ahead at full steam with promoting the demonstrative and leading roles Qianhai plays in the development of the bay area, and further deepening the collaboration between Hong Kong and Shenzhen.

 

“Going forward, Hong Kong and Shenzhen will jointly enhance collaboration and, in keeping with the requirements of the Qianhai Overall Development Plan, step up efforts in promoting the development of modern service industries in the Qianhai Co-operation Zone, support Qianhai in continuing to pursue more policy breakthroughs on pilot basis, and assist Qianhai in expediting the alignment of rules and harmonisation of mechanisms, in order to contribute to the further reform and opening up,” Mr Tsang added.

 

Furthermore, the Qianhai Authority of Shenzhen, Invest Hong Kong, the Hong Kong Trade Development Council and the governments of Shenzhen's Nanshan and Bao'an districts signed a co-operation memorandum of understanding to jointly set up the Qianhai Hong Kong Enterprises Service Centre, which will provide one-stop services for Hong Kong residents and businesses engaging in entrepreneurship, investment and living in Qianhai, Shenzhen.

 

The Hong Kong and Shenzhen sides also witnessed the inauguration ceremony of the Qianhai Hong Kong Enterprises Service Centre and the Qianhai Hong Kong Youth Development Centre jointly set up by the Qianhai Authority and the Hong Kong Federation of Youth Groups at the Qianhai Shenzhen-Hong Kong Youth Innovation & Entrepreneur Hub.


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