Category: MIL-OSI

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Government of India

Union Minister Shri Bhupender Yadav Participates in Ministerial Round table on “Means of Implementation” at BRS COP

Shri Yadav Presents Summary of Key Deliberations Among Participating Ministers in the Ministerial Interactive Panel discussion

Posted On: 02 MAY 2025 2:23PM by PIB Delhi

On the second day of the High-Level Segment of the meetings of the Conferences of the Parties to the Basel, Rotterdam and Stockholm Conventions (BRS COPs), Union Minister for Environment, Forest and Climate Change, Shri Bhupender Yadav participated in the Ministerial Interactive Panel discussion on the theme “Means of Implementation.”

During the Ministerial Interactive Panel discussion, Shri Yadav presented a summary of key points emerging from the round table discussions with other countries held on 30th April, 2025. The summary of the round table discussions included emphasis on the importance of predictable international financing mechanisms and the mobilization of domestic resources through tools such as progressive taxation, carbon levies, and Extended Producer Responsibility (EPR).

The roundtable also discussed the need for innovative financing solutions, including green bonds, debt-for-nature swaps, chemical certificates, and green loans, as critical tools to attract private investment—particularly in countries with constrained fiscal capacity or those emerging from crises.

The necessity of coherent and transparent regulatory frameworks that incentivize private sector engagement through supportive policies such as bans on single-use plastics and tax incentives for green technologies was suggested. The importance of cross-sectoral alignment of environmental goals to drive transformative outcomes was also highlighted.

The roundtable discussion highlighted the role of strong institutional mechanisms, with participating ministers emphasizing inter-agency coordination, capacity building, and empowerment of environment ministries to effectively lead the implementation of Multilateral Environmental Agreements (MEAs). The need for robust data infrastructure and transparent monitoring systems was recognized as essential for evidence-based decision-making and building public confidence.

Ministers also agreed on the importance of regional cooperation, including the strengthening of regional centers to enable technical exchange, shared infrastructure, and capacity development. Special attention was drawn to the needs of conflict-affected nations and countries with limited institutional capacities. Proposals included direct access to international financing, conflict-sensitive programming, and tailored technical partnerships to ensure inclusive and equitable implementation.

On the sidelines of the BRS COPs in Geneva, Shri Yadav also engaged in key bilateral meetings:
Union Minister Shri Yadav met with Ms. Inger Andersen, Executive Director, United Nations Environment Programme (UNEP) to discuss issues related to the upcoming Intergovernmental Negotiating Committee (INC-5.2) for developing a legally binding international instrument on plastic pollution, including its impact on the marine environment.

With H.E. Dr. Abdulla bin Abdulaziz bin Turki Al Subaie, Minister of Environment and Climate Change, Qatar, Shri Yadav held a productive discussion focused on enhancing bilateral cooperation in environmental protection and biodiversity conservation. Qatar was invited to participate in the International Solar Alliance (ISA).

In addition, Shri Yadav met with Mr. Rolph Payet, Executive Secretary of the Basel, Rotterdam and Stockholm Conventions; Ms. Ivonne Higuero, Secretary General of CITES; Ms. Musonda Mumba, Secretary General of the Ramsar Convention; Prof. Celeste Saulo, Secretary General of the World Meteorological Organization; and Ms. Monika Stankiewicz, Executive Secretary of the Minamata Convention during a dinner hosted at India House in Geneva. There was wide acknowledgment of the positive impact India is making in climate action and wildlife conservation under the leadership of Prime Minister Shri Narendra Modi. The leaders expressed keen interest in deepening their engagement with India, recognizing its proactive role in advancing global environmental priorities.

India’s participation in the 2025 BRS High-Level Segment reaffirms its unwavering commitment to “Viksit Bharat by 2047”, with environmentally sound management of chemicals and waste as a cornerstone of its sustainable development strategy.

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GS

(Release ID: 2126103) Visitor Counter : 160

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: Hong Kong Government special administrative region

     The Census and Statistics Department (C&SD) released today (May 2) the advance estimates on Gross Domestic Product (GDP) for the first quarter of 2025.
 
     According to the advance estimates, GDP increased by 3.1% in real terms in the first quarter of 2025 over a year earlier, compared with the increase of 2.5% in the fourth quarter of 2024.
 
     Analysed by major GDP component, private consumption expenditure decreased by 1.2% in real terms in the first quarter of 2025 from a year earlier, compared with the decrease of 0.2% in the fourth quarter of 2024.
 
     Government consumption expenditure measured in national accounts terms recorded an increase of 1.2% in real terms in the first quarter of 2025 over a year earlier, compared with the increase of 2.1% in the fourth quarter of 2024.
 
     Gross domestic fixed capital formation increased by 2.8% in real terms in the first quarter of 2025 over a year earlier, as against the decrease of 0.7% in the fourth quarter of 2024.
 
     Over the same period, total exports of goods measured in national accounts terms recorded an increase of 8.7% in real terms over a year earlier, much faster than the increase of 1.3% in the fourth quarter of 2024. Imports of goods measured in national accounts terms grew by 7.4% in real terms in the first quarter of 2025, compared with the increase of 0.4% in the fourth quarter of 2024.
 
     Exports of services rose further by 6.6% in real terms in the first quarter of 2025 over a year earlier, after the increase of 6.5% in the fourth quarter of 2024. Imports of services increased by 6.2% in real terms in the first quarter of 2025, compared with the increase of 8.3% in the fourth quarter of 2024.
 
     On a seasonally adjusted quarter-to-quarter comparison basis, GDP increased by 2.0% in real terms in the first quarter of 2025 when compared with the fourth quarter of 2024.
 
Commentary
 
     A Government spokesman said that the Hong Kong economy expanded solidly in the first quarter of 2025. According to the advance estimates, real GDP grew by 3.1% over a year earlier, picking up from the 2.5% growth in the preceding quarter. On a seasonally adjusted quarter-to-quarter basis, real GDP grew visibly by 2.0%.
 
     Analysed by major expenditure component, total exports of goods posted accelerated growth amid sustained external demand. Exports of services continued to expand, supported by the increase in visitor arrivals and other cross-boundary economic activities. Overall investment expenditure grew in tandem with the economic expansion. However, private consumption expenditure registered a small decline, reflecting the lingering impact of changes in residents’ consumption patterns.
 
     Looking ahead, as global trade tensions escalated abruptly in early April due to the significant increases in import tariffs imposed by the US, the downside risks surrounding the global economy have heightened visibly. The extremely high levels of trade policy uncertainty will dampen international trade flows and investment sentiment, which in turn overshadow the near-term outlook for the Hong Kong economy. Nonetheless, the sustained steady growth of the Mainland economy, together with the Government’s various measures to promote economic growth and expand into more diversified markets, will lend support to various economic activities in Hong Kong.
 
     The revised figures on GDP and more detailed statistics for the first quarter of 2025, as well as the revised GDP forecast for 2025, will be released on May 16, 2025.
 
Further information
 
     The year-on-year percentage changes of GDP and selected major expenditure components in real terms from the first quarter of 2024 to the first quarter of 2025 are shown in Table 1.
 
     When more data become available, the C&SD will compile revised figures on GDP. The revised figures on GDP and more detailed statistics for the first quarter of 2025 will be released at the C&SD website (www.censtatd.gov.hk/en/scode250.html) and the Gross Domestic Product by Expenditure Component report (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1030001&scode=250) on May 16, 2025.
 
     For enquiries about statistics on GDP by expenditure component, please contact the National Income Branch (1) of the C&SD (Tel: 2582 5077 or email: gdp-e@censtatd.gov.hk).