Author: MIL-OSI Publisher

Survey on Small and Medium-Sized Enterprises’ Credit Conditions for Second Quarter 2025 
The Hong Kong Monetary Authority (HKMA) published today (August 1) the results of the Survey on Small and Medium-Sized Enterprises (SMEs)’ Credit Conditions for the second quarter of 2025. According to the survey, SMEs’ credit conditions remained broadly stable.
 
Regarding SMEs’ perception of banks’ credit approval stance relative to 6 months ago, excluding respondents who answered “no idea/don’t know”, 65 per cent perceived a “similar” or “easier” credit approval stance in the second quarter of 2025, down from 75 per cent in the previous quarter (Chart 1 in the Annex). 35 per cent perceived a “more difficult” credit approval stance, compared to 25 per cent in the previous quarter. The perception of a more difficult credit approval stance may not necessarily reflect actual difficulties faced by SMEs in obtaining bank credit as the perception could be affected by a number of factors, such as media/news reports, business conditions and opinions of relatives and friends.
 
Among respondents with existing credit lines, 1 per cent reported a “tighter” banks’ stance, down from 5 per cent in the previous quarter (Chart 2 in the Annex). In this survey, a tighter stance on existing credit lines denotes a range of possible measures or arrangements, such as reducing unused and used credit lines, raising the interest rate, imposing additional collateral requirements, or shortening loan tenor. Therefore, respondents’ indication of banks’ stance on existing credit lines may not directly reflect banks’ supply of credit to SMEs.
 
The survey also gauged the results of new credit applications from SMEs. 3 per cent of the respondents reported that they had applied for new bank credit during the second quarter of 2025. Among the respondents who had already known their application outcomes, 67 per cent reported fully or partially successful applications, down from 79 per cent in the previous quarter (Chart 3 in the Annex).
 
Owing to small sample sizes of SMEs with existing credit lines (16 per cent of surveyed SMEs) and with new credit applications (3 per cent of surveyed SMEs) during the quarter, the results could be prone to large fluctuations, and hence should be interpreted with care.

About Survey on Small and Medium-Sized Enterprises (SMEs)’ Credit Conditions
 
In light of the importance of SMEs to the Hong Kong economy and concerns about potential funding difficulties facing SMEs over the past few years, the HKMA has appointed the Hong Kong Productivity Council (HKPC) to carry out this survey, starting from the third quarter of 2016. This survey is conducted on a quarterly basis, covering about 2 500 SMEs from different economic sectors each time. The results of this survey can help monitor the development of SMEs’ access to bank credit from a demand-side perspective.
 
The results of this survey should be interpreted with caution. Similar to other opinion surveys, views collected in this survey may be affected by changes in sentiment due to idiosyncratic events that occurred over the survey period, which can make the results prone to fluctuations. Readers are advised to interpret the results together with other economic and financial information. In addition, views collected are limited to the expected direction of inter-quarter changes (e.g. “tighter”, “no change” or “easier”) without providing information about the magnitude of these changes.
 
Detailed tables and technical information of this survey are published on the website of the HKPC (smecc.hkpc.orgIssued at HKT 17:06

Public housing resident convicted by court for making false statementsIssued at HKT 17:00

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Committee on Education, Technology and Talents meets and exchanges with stakeholders of innovation and technology sector  
At the meeting, Mr Chan introduced the CETT’s work plan to representatives from I&T parks, I&T enterprises and State Key Laboratories. The CETT builds on the strategic positioning and advantages of the “eight centres” to cultivate and attract talent and make holistic plans to strategise talent chains, innovation chains, industrial chains and capital chains to drive technological innovation, industrial innovation and the co-ordinated development of human resource supply and demand, with a view to contributing to the high-quality development of Hong Kong and the country while accelerating the advancement of Chinese modernisation. On attracting high-quality I&T talent, the CETT will lead the I&T sector in revamping its positioning and planning. It will enhance the Technology Talent Admission Scheme, as well as introduce a groundbreaking arrangement under the Quality Migrant Admission Scheme to proactively invite top-notch and leading talent to come to Hong Kong for development, with a view to building an international hub for high-calibre talent to promote the I&T development of Hong Kong.
 
The meeting also introduced the Government’s establishment of a new I&T system with three major I&T parks and five key research and development institutes as its framework, along with various initiatives to enhance the I&T ecosystem and enlarge the local I&T talent pool. Mr Chan said, “The Government will continue to take forward the development under the principle of ‘promoting technology with talent, leading industries with technology, and attracting talent with industries’. The Government will also grasp the opportunities arising as the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone enters its operational phase soon and continue to expedite the development of I&T industries, to provide development opportunities for local I&T talent as well as those coming to Hong Kong. In addition, the Government will also make full use of and enhance the various existing talent admission schemes to promote Hong Kong as the focal point of international high-calibre talent, contributing to the development of I&T of the country and Hong Kong.”
 
Professor Sun and Mr Ho also briefed the stakeholders on the Government’s efforts to attract I&T talent and the latest progress in various talent attraction measures.
 
Mr Chan stated that the CETT will continue to strengthen collaboration and maintain close communication with the I&T sector to jointly explore new pathways for the integrated development of education, technology, and talent. Stakeholders in the I&T sector have also expressed support for the CETT’s work and will work together with the Government by leveraging the strengths of industry resources in attracting global top talent, thereby injecting momentum into the development of the country and Hong Kong and contributing to the country’s development into a nation with strong science and technology.
Issued at HKT 16:30

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Provisional statistics of restaurant receipts and purchases for second quarter of 2025 
     The value of total receipts of the restaurants sector in the second quarter of 2025, provisionally estimated at $27.1 billion, increased by 0.8% over a year earlier. Over the same period, the provisional estimate of the value of total purchases by restaurants increased by 2.7% to $8.8 billion.
 
     After netting out the effect of price changes over the same period, the provisional estimate of the volume of total restaurant receipts decreased by 0.4% in the second quarter of 2025 compared with a year earlier.
 
     Analysed by type of restaurant and comparing the second quarter of 2025 with the second quarter of 2024, total receipts of Chinese restaurants decreased by 3.8% in value and 5.2% in volume. Total receipts of non-Chinese restaurants increased by 5.7% in value and 5.1% in volume. Total receipts of fast food shops increased by 2.1% in value and 0.7% in volume. Total receipts of bars decreased by 2.5% in value and 4.1% in volume. As for miscellaneous eating and drinking places, total receipts decreased by 0.7% in value and 2.6% in volume.
 
     Based on the seasonally adjusted series, the provisional estimate of total restaurant receipts increased by 0.2% in value and 0.6% in volume in the second quarter of 2025 compared with the preceding quarter.
 
     Comparing the first half of 2025 with the same period in 2024, total restaurant receipts increased by 0.1% in value but decreased by 1.1% in volume.
 
     To facilitate further understanding of the short-term business performance of the restaurants sector, statistics in respect of the restaurant receipts and purchases in individual months of the reference quarter are also compiled.
 
     Analysed by month, it was provisionally estimated that the value of total receipts of the restaurants sector increased by 0.9%, increased by 1.8% and decreased by 0.5% respectively in April, May and June 2025, compared with the corresponding months in 2024.
 
     After discounting the effect of price changes, it was provisionally estimated that the volume of total restaurant receipts decreased by 0.2%, increased by 0.7% and decreased by 1.6% respectively in April, May and June 2025, compared with the corresponding months in 2024.
 
Commentary
 
     A Government spokesman said that restaurant receipts resumed a mild increase in the second quarter of 2025. The value of total restaurant receipts increased by 0.8% over a year earlier, or by 0.2% over the preceding quarter on a seasonally adjusted comparison.
 
     Looking ahead, domestic consumption sentiment will continue to be supported by the continued growth of the economy, increase in employment earnings, and the buoyant local stock market. The Government’s proactive efforts in promoting tourism and mega events should also benefit the business.
 
Further information
 
     Table 1 presents the revised figures of restaurant receipts by type of restaurant and total purchases by the restaurants sector for the first quarter of 2025 as well as the provisional figures for the second quarter of 2025.
 
     Table 2 and Table 3 present the revised value and volume indices respectively of restaurant receipts by type of restaurant for the first quarter of 2025 and the provisional indices for the second quarter of 2025.
 
     Table 4 presents the year-on-year rate of change in total restaurant receipts in value and volume terms based on the original quarterly series, as well as the quarter-to-quarter rate of change based on the seasonally adjusted series.
 
     The revised figures on restaurant receipts and purchases for the second quarter of 2025 (with breakdown by month) will be released through the website of C&SD (www.censtatd.gov.hk/en/scode540.html 
     The classification of restaurants 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.
 
     More detailed statistics are given in the “Report on Quarterly Survey of Restaurant Receipts and Purchases”. Users can browse and download the publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080002&scode=540 
     Users who have enquiries about the survey results may contact the Distribution Services Statistics Section of C&SD (Tel: 3903 7401; e-mail: qsr@censtatd.gov.hkIssued at HKT 16:30

DGCA attends Asia-Pacific aviation heads conference in Japan  
The theme for this year’s Conference was “The sustainable skies of the Asia-Pacific region: towards increased economic prosperity and social well-being by air transportation of people and goods in the region”. The five-day Conference, with over 350 participants from 47 member states, administrations and international organisations, concluded on a high note today (August 1). Discussion and information papers covering a wide range of subjects, including aviation safety, air navigation, aviation security, aviation and the environment, aviation technologies, as well as regional co-operation were submitted by aviation authorities and industry organisations to the Conference.
 
Among the three papers submitted to the Conference by the CAD, one of them was themed “Development of Low-Altitude Economy” to share Hong Kong’s efforts of leveraging advanced air mobility technologies to develop the low-altitude economy in Hong Kong while safeguarding aviation and public safety. The other two papers presented the CAD’s experiences in upholding aviation safety and aviation security requirements for sustainable air cargo operations, and discussed the collaborative achievements in the commissioning of the Three-Runway System at Hong Kong International Airport to ensure the safe and efficient operation of the aerodrome remained unaffected throughout the project. The papers received recognition and support from delegates.
 
During their stay in Sendai, the CAD delegation attended side meetings with representatives from different aviation authorities and industry organisations such as the Civil Aviation Safety Authority of Australia, the European Union Aviation Safety Agency, the Federal Aviation Administration, the Airports Council International and the International Air Transport Association. Views on matters of mutual interest were shared, and ways to strengthen co-operation were explored with the aim of facilitating aviation developments.
 
The CAD will continue to maintain close co-operation with its aviation partners and continue to support the ICAO’s global aviation development initiatives.
Issued at HKT 16:00

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Tin Sau Road Swimming Pool to be reopened at 4pm     
Please broadcast the following as soon as possible and repeat it at regular intervals:

     Here is an item of interest to swimmers.Issued at HKT 15:45

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Mong Kok Community Hall temporary shelter opened 
     The YTMDO will closely monitor the situation and liaise with other government departments to provide residents with appropriate assistance.
Issued at HKT 14:54

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