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CE meets Philippine senate president

Chief Executive John Lee today met visiting Philippine Senate President Juan Miguel Fernandez Zubiri to exchange views on matters of common interest.   Mr Lee said Hong Kong and the Philippines have maintained close exchanges and co-operation in various fields such as trade, investment and finance, and that Hong Kong is an important trading and investment partner for the Philippines and other Association of Southeast Asian Nations countries. He encouraged more Philippine enterprises and talent to develop in Hong Kong and make better use of its professional services and internationalised business environment for expanding into Mainland markets, including those of the Greater Bay Area.   As the city is striving for early entry to the Regional Comprehensive Economic Partnership Agreement, the Chief Executive thanked the Philippines for its support in Hong Kong’s bid for accession. http://dlvr.it/SplQxC
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June retail sales up 5.8%

The value of total retail sales in June, provisionally estimated at $28.1 billion, rose 5.8% compared with the same month in 2020, the Census & Statistics Department announced today.   Of the total retail sales value in June, online sales accounted for 8.1%. Provisionally estimated at $2.3 billion, the value of online retail sales increased 63.8% year-on-year.   After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales for the month increased 2.8% compared with a year earlier.   The value of sales of other consumer goods, not elsewhere classified increased 16%.   This was followed by sales of jewellery, watches and clocks, and valuable gifts (+31.8% in value); wearing apparel (+18.8%); electrical goods and other consumer durable goods, not elsewhere classified (+10.6%); medicines and cosmetics (+8.9%); motor vehicles and parts (+36%); fuels (+5.1%); Chinese drugs and herbs (+10.8%); books, newspapers, stationery and gifts (+6.8%).   The value of sales of commodities in supermarkets decreased 7% for the period, followed by sales of food, alcoholic drinks and tobacco (-1.6% in value); commodities in department stores (-20.3% in value); furniture and fixtures (-3.6%); footwear, allied products and other clothing accessories (-1.8%) and optical shops (-2.7%).   The Government said that retail sales further increased in June on a year-on-year basis as consumption demand revived further alongside the stable local epidemic and improved labour market situations.   For the second quarter as a whole, retail sales volume grew by 3.6% over the preceding quarter after seasonal adjustment, but it still stayed far below the pre-recession level with incoming visitors remaining scant.   Looking ahead, the Government pointed out that the Consumption Voucher Scheme will help stimulate local consumer sentiment and provide support to the retail sector.   To create conditions for further improvement in retail business and a broader based economic recovery, it is essential for the community to keep the epidemic under control and strive towards more widespread vaccination, it added.
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