Month: May 2025

Source: Hong Kong Government special administrative region

     The Census and Statistics Department (C&SD) released the latest figures on retail sales today (May 2).

     The value of total retail sales in March 2025, provisionally estimated at $30.1 billion, decreased by 3.5% compared with the same month in 2024. The revised estimate of the combined value of total retail sales in January and February 2025 decreased by 7.8% compared with the same period a year earlier. For the first quarter of 2025, it was provisionally estimated that the value of total retail sales decreased by 6.5% compared with the same period in 2024.

     Of the total retail sales value in March 2025, online sales accounted for 8.1%. The value of online retail sales in that month, provisionally estimated at $2.4 billion, decreased by 0.5% compared with the same month in 2024. The revised estimate of the combined value of online retail sales in January and February 2025 decreased by 2.4% compared with the same period a year earlier. For the first quarter of 2025, it was provisionally estimated that the value of online retail sales decreased by 1.7% compared with the same period in 2024.

     After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales in March 2025 decreased by 4.8% compared with a year earlier. The revised estimate of the combined volume of total retail sales in January and February 2025 decreased by 9.9% compared with the same period a year earlier. For the first quarter of 2025, the provisional estimate of the total retail sales decreased by 8.3% in volume compared with the same period in 2024.

     Analysed by broad type of retail outlet in descending order of the provisional estimate of the value of sales and comparing March 2025 with March 2024, the value of sales of jewellery, watches and clocks, and valuable gifts decreased by 3.9%. This was followed by sales of wearing apparel (-10.8% in value); commodities in department stores (-5.0%); motor vehicles and parts (-46.4%); fuels (-3.9%); footwear, allied products and other clothing accessories (-7.7%); Chinese drugs and herbs (-1.0%); books, newspapers, stationery and gifts (-0.9%); furniture and fixtures (-17.3%); and optical shops (-2.7%).

     On the other hand, the value of sales of other consumer goods not elsewhere classified increased by 0.6% in March 2025 over a year earlier. This was followed by sales of commodities in supermarkets (+5.2% in value); medicines and cosmetics (+1.2%); food, alcoholic drinks and tobacco (+7.8%); and electrical goods and other consumer durable goods not elsewhere classified (+6.7%).

     Based on the seasonally adjusted series, the provisional estimate of the value of total retail sales increased by 3.8% in the first quarter of 2025 compared with the preceding quarter, while the provisional estimate of the volume of total retail sales increased by 2.2%.

Commentary

     A government spokesman said that the value of total retail sales increased further in March 2025 over the preceding month on a seasonally adjusted comparison, and its year-on-year decline continued to narrow. For the first quarter as a whole, the value of total retail sales resumed an increase over the preceding quarter on a seasonally adjusted comparison. 

     Looking ahead, the spokesman said the sustained steady growth of the Mainland economy, the Government’s proactive efforts to boost the consumption market through promotion of tourism and mega events, as well as the increase in employment earnings will continue to support the retail sector. However, the increased level of uncertainty in the global economic outlook and the ongoing impact of the change in consumption patterns will pose challenges to the sector. 

Further information

     Table 1 presents the revised figures on value index and value of retail sales for all retail outlets and by broad type of retail outlet for February 2025 as well as the provisional figures for March 2025. The provisional figures on the value of retail sales for all retail outlets and by broad type of retail outlet as well as the corresponding year-on-year changes for the first quarter of 2025 are also shown.

     Table 2 presents the revised figures on value of online retail sales for February 2025 as well as the provisional figures for March 2025. The provisional figures on year-on-year changes for the first quarter of 2025 are also shown.

     Table 3 presents the revised figures on volume index of retail sales for all retail outlets and by broad type of retail outlet for February 2025 as well as the provisional figures for March 2025. The provisional figures on year-on-year changes for the first quarter of 2025 are also shown.

     Table 4 shows the movements of the value and volume of total retail sales in terms of the year-on-year rate of change for a month compared with the same month in the preceding year based on the original series, and in terms of the rate of change for a three-month period compared with the preceding three-month period based on the seasonally adjusted series.

     The classification of retail establishments follows the Hong Kong Standard Industrial Classification (HSIC) Version 2.0, which is used in various economic surveys for classifying economic units into different industry classes.

     These retail sales statistics measure the sales receipts in respect of goods sold by local retail establishments and are primarily intended for gauging the short-term business performance of the local retail sector. Data on retail sales are collected from local retail establishments through the Monthly Survey of Retail Sales (MRS). Local retail establishments with and without physical shops are covered in MRS and their sales, both through conventional shops and online channels, are included in the retail sales statistics.

     The retail sales statistics cover consumer spending on goods but not on services (such as those on housing, catering, medical care and health services, transport and communication, financial services, education and entertainment) which account for over 50% of the overall consumer spending. Moreover, they include spending on goods in Hong Kong by visitors but exclude spending outside Hong Kong by Hong Kong residents. Hence they should not be regarded as indicators for measuring overall consumer spending.

     Users interested in the trend of overall consumer spending should refer to the data series of private consumption expenditure (PCE), which is a major component of the Gross Domestic Product published at quarterly intervals. Compiled from a wide range of data sources, PCE covers consumer spending on both goods (including goods purchased from all channels) and services by Hong Kong residents whether locally or abroad. Please refer to the C&SD publication “Gross Domestic Product by Expenditure Component” for more details.

     More detailed statistics are given in the “Report on Monthly Survey of Retail Sales”. Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080003&scode=530).

     Users who have enquiries about the survey results may contact the Distribution Services Statistics Section of C&SD (Tel: 3903 7400; E-mail: mrs@censtatd.gov.hk).

Source: Government of India

Posted On: 02 MAY 2025 3:12PM by PIB Delhi

India’s total exports have touched an all-time high of US$824.9 billion in the financial year 2024–25, as per the latest data released by the Reserve Bank of India on services trade for March 2025. This marks a growth of 6.01% over the previous year’s export figure of US$778.1 billion, setting a new milestone in the country’s trade trajectory.

 

Services exports continued to drive the growth momentum, reaching a historic high of US$387.5 billion in 2024–25, up 13.6% from US$341.1 billion in the previous year. For March 2025, services exports stood at US$35.6 billion, reflecting a year-on-year growth of 18.6% compared to US$30.0 billion in March 2024.

 

In 2024–25, merchandise exports excluding petroleum products rose to a record US$374.1 billion, registering a 6.0% increase from US$352.9 billion in 2023–24 — the highest ever annual non-petroleum merchandise exports.

 

 

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Abhishek Dayal/Abhijith Narayanan

(Release ID: 2126119) Visitor Counter : 44

Source: Government of India

Posted On: 02 MAY 2025 2:58PM by PIB Delhi

Coal production from captive and commercial mines in the country stood at 14.01 million tonnes (MT) in April 2025, while coal dispatch was recorded at 16.81 million tonnes (MT), reflecting a robust start to FY 2025–26.

This marks a notable year-on-year growth compared to April figures from FY 2023- 24 and FY 2022-23, underlining the sector’s upward trajectory. The attached graph clearly illustrates the consistent performance improvement across three consecutive years, with both production and dispatch showing strong gains.

 

The Ministry attributes this success to continuous policy interventions, close monitoring, and handholding of stakeholders to fast-track operational clearances and enhance production capacity. One of the key contributors to this achievement is the commencement of operations in newly developed coal blocks:

• Kotre Basantpur Pachmo block of M/s Central Coalfields Limited (CCL), with a Peak Rated Capacity (PRC) of 5 MT per annum (opencast), started operations on 15 April 2025.
• Naini coal block of M/s Singareni Collieries Company Limited (SCCL), with a PRC of 10 MT per annum (opencast), commenced operations on 16 April 2025.

Going forward, the Ministry of Coal reaffirms its commitment to unlocking the full potential of captive and commercial coal mining in India. The focus remains on ensuring seamless production, minimizing supply disruptions, and contributing significantly to the country’s growing energy demand.

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Shuhaib T

(Release ID: 2126112) Visitor Counter : 56

Source: Hong Kong Government special administrative region

     The Financial Secretary, Mr Paul Chan, will depart for Milan, Italy, in the early hours of May 4 (Sunday) to attend the 58th Annual Meeting of the Asian Development Bank (ADB). The theme of this year’s meeting is “Sharing Experience, Building Tomorrow”, focusing on development issues and challenges facing the Asia-Pacific region, such as climate change, digital transformation, and promoting mutually beneficial co-operation and inclusive economic growth. Mr Chan will deliver remarks at the Governor’s Plenary.

     He will also meet with the President of the ADB, Mr Masato Kanda, and financial officials from other countries and regions attending the meeting.

     Mr Chan will return to Hong Kong on May 7 (local time) and arrive on the morning of May 8. During his absence, the Deputy Financial Secretary, Mr Michael Wong, will act as the Financial Secretary.

Source: Government of India

Posted On: 02 MAY 2025 2:50PM by PIB Delhi

Holy Relics of Lord Buddha, accompanied by Union Minister of Minority Affairs and Parliamentary Affairs Shri Kiren Rijiju, Minister of Tourism and Culture of Andhra Pradesh Shri Kandula Durgesh, revered monks and senior officials from India arrived in Ho Chi Minh City today morning by a special Indian aircraft. The visit is taking place in the context of the United Nations (UN) Day of Vesak celebrations being hosted by Vietnam from 6-8 May 2025.

The Holy Relics and the Minister were received by Dao Ngoc Dung, Minister of Religious and Ethnic Affairs of Vietnam, Duong Ngoc Hai, Standing Vice-Chairman of Ho Chi Minh City People’s Committee, Supreme Patriarch of Vietnam Buddhist Sangha Thích Trí Quảng and venerable monks of Vietnam Buddhist Sangha. Special ceremonial prayers were held at the airport on arrival followed by prayers led by the Supreme Patriarch of Vietnam Buddhist Sangha and the enshrinement of the Holy Relics at Thanh Tam Monastery, Ho Chi Minh City. On the occasion, a sapling of the Sacred Bodhi tree brought from India was planted by the visiting Minister from India and the Supreme Patriarch of Vietnam Buddhist Sangha at the Buddhist University, Ho Chi Minh City. The Holy Relics will be at the Thanh Tam Monastery from 2-7 May 2025 followed by their exposition at Tay Ninh, Ha Noi and Ha Nam provinces till 21 May 2025.

The Holy Relics of Lord Buddha have travelled from the Sacred site of Sarnath, the venue of the first sermon by Lord Buddha. The Relics have been provided through the Mahabodhi Society of India and the National Museum of the Government of India with the support of the International Buddha Confederation.  The Holy Relics hold special significance for the Buddhist Community around the world and are visiting Vietnam for the first time.  The Vietnam Buddhist Sangha with the kind cooperation of the Government of Vietnam have extended local support for the Holy Relics in Vietnam as per mutual arrangements between the two countries.

In the context of the UN Day of Vesak and deep connections between India and Vietnam, a specially curated exhibition about historical linkage relating to Buddhist spiritual beliefs and arts and culture dating back about two millennia will also be displayed during the UN Day of Vesak at Vietnam Buddhist University, Ho Chi Minh City. Further, an Indian cultural group will travel from India to present a special dance-drama “The Journey of Gautama Buddha” representing the life and messages of Shakyamuni Buddha in Ho Chi Minh City, Tay Ninh, Ha Noi and other locations between 5-13 May 2025.

India treasures the strong bonds between the people of India and Vietnam and wish that the visit of Holy Relics to Vietnam and other related activities will further deepen these close ties between India and Vietnam.

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SS/ISA

(Release ID: 2126109) Visitor Counter : 44

Source: Government of India

Posted On: 02 MAY 2025 2:39PM by PIB Mumbai

Mumbai, 2 May 2025

 

WAVES 2025 is a watershed moment in the Media and Entertainment landscape of India and the event will witness the release of a key Report titled “Legal Currents: A Regulatory Handbook on India’s Media & Entertainment Sector 2025.” Prepared by Khaitan & Co., one of the knowledge partners of WAVES 2025, the Report outlines the regulatory frameworks that continue to shape and unleash the growing potential of India’s vibrant Media & Entertainment ecosystem.

The legal guide comes at a crucial moment as India’s M&E industry undergoes unprecedented transformation, driven by regulatory frameworks that have enabled industry participants to leverage their skills and technological innovation across broadcasting and infotainment, gaming, AI, digital media and films. Along with a rapid increase in internet accessibility and shifts in Indian content consumption, India is undergoing a digital transformation facilitated by proactive and receptive governance. The Government has optimised and eased regulatory processes for sectors such as print and linear broadcasting on television and radio, which still command a significant audience within India.

The handbook covers key Government initiatives and legal interventions that have incentivised and streamlined the legal roadmap for market entry, collaboration and operations by foreign players. The Central and state Governments have also introduced production and co-production incentive schemes, positioning India as a premier destination for content creation.

In key sectors such as advertising, online gaming, and digital media, a collaborative partnership has evolved between industry bodies and the Government, providing operational flexibility for stakeholders while ensuring legal compliance.

As India strengthens its position as a global content hub, this handbook is aimed to serve as a vital resource for stakeholders in the vibrant, tech-driven M&E space.

 

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PIB TEAM WAVES 2025 | Rajith/ Poushali/ Darshana | 143

(Release ID: 2126108) Visitor Counter : 24

Source: Government of India

Posted On: 02 MAY 2025 2:36PM by PIB Mumbai

Mumbai, 2 May 2025

 

India’s rise as a global content powerhouse is the focus of the report “A Studio Called India” by Ernst & Young which will be unveiled tomorrow at WAVES 2025 in Mumbai. The report underlines India’s growing influence in the global media and entertainment (M&E) landscape, driven by its expanding digital market, cultural diversity, and advanced production capabilities:

• India’s diverse culture and advanced infrastructure make it a creative powerhouse
• Animation and VFX costs are 40% to 60% lower in India and there is a large skilled workforce to support global production workflows
• Indian content is gaining international acceptance, with up to 25% of views on global OTT platforms being generated outside of India

The report aims to highlight India’s impressive growth and innovation in the M&E sector, positioning the country as a leader in global content creation. India is rapidly becoming a global content hub, driven by its expanding digital market, diverse cultural and linguistic heritage, and rich storytelling traditions that resonate with audiences worldwide.

Key highlights of the Report will include:

• Digital media takeover: In 2024, digital media overtook television to become the largest segment of India’s M&E sector, contributing over INR800 billion (US$9.4 billion) and accounting for 32% of sector revenues.
• Content production: India produced approximately 200,000 hours of original content last year, including 1,600 films, 2,600 hours of premium OTT content, and 20,000 original songs. This positions India as one of the largest content- creation houses globally.
• Technological advancements: AI and new technologies are revolutionizing the content industry in India. AI-driven platforms enhance the efficiency and quality of content production, enabling rapid creation of professional-grade videos, images, text, and music.
• Live events surge: In 2024 alone, India hosted over 30,000 live events, including concerts featuring global artists like Ed Sheeran and Coldplay. Ticketed events have quadrupled in the last five years, highlighting the growing appetite for live entertainment.

Talent pool expansion: The M&E sector employs 2.8 million people directly, with an additional 10 million in indirect employment. India’s scalable talent advantage is bolstered by its diverse cultural and linguistic landscape, fostering a thriving content ecosystem.

 

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PIB TEAM WAVES 2025 | Rajith/ Lekshmipriya/ Darshana | 142

(Release ID: 2126107) Visitor Counter : 21

Source: Government of India

Posted On: 02 MAY 2025 2:33PM by PIB Mumbai

Mumbai, 2 May 2025

 

India’s digital landscape is undergoing a significant transformation driven by the rise of its creator economy. A new report by the Boston Consulting Group (BCG), titled “From Content to Commerce: Mapping India’s Creator Economy”, set to be launched tomorrow (3rd May 2025)  at WAVES 2025 in Mumbai,will reveal that India’s creators currently influence over $350 billion in consumer spending annually — a figure expected to surpass $1 trillion by 2030.

The report highlights that India is home to 2 to 2.5 million active digital creators, defined as individuals with over 1,000 followers. Despite the scale, only 8–10% of them currently monetize their content effectively, underscoring the untapped potential of this fast-growing sector. The creator ecosystem’s direct revenues, estimated at $20–25 billion today, are projected to reach $100–125 billion by the end of the decade.

Key insights from the report will include:

• Creators influence more than 30% of consumer decisions, shaping $350–400 billion in spending today.
• The ecosystem is expanding beyond Gen Z and metropolitan centres, reaching varied age groups and city tiers.
• Short-form video remains the dominant content format, with comedy, films, daily soaps, and fashion being the most consumed genres.
• Brand strategies are evolving, with increased emphasis on faster content production, greater creative freedom, diversified consumer targeting, and outcome-based testing.
• Revenue models are diversifying, with consumer-funded avenues such as virtual gifting, live commerce, and subscriptions gaining traction.
• Brands are expected to scale up their investments in creator marketing by 1.5 to 3 times in the coming years, signalling a pivotal shift in marketing and commerce driven by the digital creator ecosystem.

The BCG report will be officially released during WAVES 2025 in Mumbai tomorrow. Discussions at the ongoing mega event WAVES 2025 on the emerging contours of AI, Social Media, AVGC Sector and Films reflect India’s expanding footprint in the Digital Media sphere.

 

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PIB TEAM WAVES 2025 | Rajith/ Lekshmipriya/ Darshana | 141

(Release ID: 2126106) Visitor Counter : 18

Source: Government of India

Posted On: 02 MAY 2025 2:29PM by PIB Mumbai

Mumbai, 2 May 2025

 

WAVES 2025 to witness the release of Statistical Handbook on Media and Entertainment Sector 2024-25 of Ministry of Information and Broadcasting, tomorrow. This is part of Government’s affirmation of the need for timely, reliable, authentic and comprehensive data on the M&E Sector as Media and Entertainment is an important component of the service sector having huge potential to contribute to growth of the economy of the country.  Media & Entertainment ecosystem is a sunrise sector expected to grow at 7% CAGR to reach 3067 billion INR in 2027 as per the latest estimate. Various policy initiatives taken and its implementation need to be backed by appropriate data to have the optimum outcome.

Keeping in view the data requirement of the Ministry and other stakeholders in the sector, the Statistical Handbook on Media & Entertainment sector 2024-25, with the updated data and information on different segments of M&E sector will be launched at WAVES 2025 tomorrow.

A few snippets from the Statistical Handbook on Media & Entertainment sector 2024-25 are as follows:

• Registered print publications soared from 5,932 in 1957 to 154,523 in 2024-25, with a CAGR of 4.99%
• A total of 130 books on various themes including Children’s literature, History and freedom struggles, personalities and biographies, Builders of modern India, Science, technology and environment and other themes have been published by Publications Division, Ministry of Information & Broadcasting during 2024-2025.
• 100% geographical coverage through DTH service by March 2025.
• Doordarshan Free Dish Channels: 33 channels in 2004 to 381 in 2025.
• All India Radio (AIR) Coverage: Provides 98% population coverage through radio as of March 2025. Number of AIR radio stations grew from 198 in 2000 to 591 in 2025. 
• Private Satellite TV Channels surged from 130 in 2004-05 to 908 in 2024-25
• Private FM stations grew from 4 in 2001 to 388 by 2024.
• Information on State/UT-wise operational Private FM Radio Stations in India as on 31.03.2025.
• Community Radio Stations (CRS) surged from 15 in 2005 to 531 in 2025. Data about State/UT/District/Location wise Operational CRS in India as on 31.03.2025 are also included.
• 741 Indian feature films certified in 1983, which was increased to 3455 in 2024-25, with a cumulative total of 69,113 by 2024-25

 

In addition to statistical data, information on the following is also available in the Handbook:

• Awards in the film sector including International Film Festivals organized and documentaries produced by NFDC are also available in the Handbook.
• Digital Media and Creator Economy including WAVES OTT Platform, Indian Institute of Creative Technologies (IICT) and Create in India Challenge (CIC) under WAVES 2025.
• Landmark events in Information and Broadcasting Sector viz. the Press Registrar General of India (PRGI), Akashwani, Doordarshan, Private FM Radio Stations and TV-INSAT
• Skilling courses under Ministry of Information & Broadcasting.

Ease of Doing Business initiatives by Ministry of Info & Broadcasting including Transformative Portals.

 

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PIB TEAM WAVES 2025 | Rajith/ Lekshmipriya/ Darshana | 140

(Release ID: 2126105) Visitor Counter : 22

Source: Hong Kong Information Services

Police’s National Security Department (NSD) arrested two men, aged 35 and 68, in Tseung Kwan O on April 30 on suspicion of committing crimes in contravention of the Safeguarding National Security Ordinance and the Crimes Ordinance, and laid a charge against the 68-year-old man today.

The Secretary for Security exercised the powers conferred by the Safeguarding National Security Ordinance to specify seven absconded fugitives, including Kwok Fung-yee, for being suspected of having committed offences endangering national security, and to specify the measures to be applied against the relevant absconders by notices published in the Gazette on December 24, 2024.

Investigations revealed that the two arrestees assisted Kwok Fung-yee in changing the details of an insurance policy and attempted to withdraw its remaining value.

The NSD laid a charge against the 68-year-old man with one count of “attempting to deal with, directly or indirectly, any funds or other financial assets or economic resources belonging to, or owned or controlled by, a relevant absconder”.

The case was due to be mentioned at the West Kowloon Magistrates’ Courts this afternoon, while the other arrested man was released on bail pending further investigations.

Police reminded the public that dealing with funds belonging to a relevant absconder is a serious crime and offenders are liable to seven years’ imprisonment on first conviction, and urged them not to defy the law.