New HK$5000 Consumption Vouchers for Hong Kong Given Out in April 2023
Consumptions vouchers worth HK$5000 will be given to Hong Kongers in two batches to revitalise the economy, Financial Secretary Paul Chan announced.
by: The Beat Asia
November 02, 2022
The value of Hong Kong’s total retail sales in September increased by 0.2% as compared with September 2021 to an estimated HK$28.1 billion, the Census & Statistics Department announced yesterday in a press statement.
Online sales accounted for an estimated 10.2% of all retail value in September, rising by 27.5% from the same time last year. The value of sales of electrical goods likewise increased by 14%, whereas sales of jewellery, watches and clocks, and valuable gifts went up by 8.4%. Motor vehicles and parts hiked by 26.6%, and medicines and cosmetics increased by 0.5%.
However, the value of sales of commodities in supermarkets decreased by1.6% in September, followed by sales of food, alcoholic drinks and tobacco at -9.5%, and commodities in department stores seeing the largest decrease at -17.6%.
“Looking ahead, the spokesman pointed out that the generally stable local COVID-19 epidemic situation, improving labour market conditions and the Consumption Voucher Scheme will continue to support consumption demand in the near term. However, tightened financial conditions will increasingly offset the positive effects,” the press statement read.
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