Source: Hong Kong Government special administrative region
Business expectations for the first quarter of 2026
Business Situation
For all surveyed sectors taken together, the proportion of respondents expecting their business situation to be better (11%) in Q1 2026 over the preceding quarter is lower than that expecting it to be worse (14%).
When compared with the results of the Q4 2025 survey round, the proportion of respondents expecting a better business situation in Q1 2026 is 11%, slightly lower than the corresponding proportion in Q4 2025 (13%). At the same time, the proportion of respondents expecting a worse business situation had slightly decreased from 15% in Q4 2025 to 14% in Q1 2026.
Analysed by sector, respondents in most of the surveyed sectors expect their business situation to decrease on balance or remain broadly unchanged in Q1 2026 as compared with Q4 2025. In particular, significantly more respondents in the construction and accommodation and food services sectors expect their business situation to be worse in Q1 2026 as compared with Q4 2025. On the other hand, in the financing and insurance sector, significantly more respondents expect their business situation to be better, as compared to those expecting it to be worse.
The results of the survey should be interpreted with care. In this type of survey on expectations, the views collected in the survey are affected by the events in the community occurring around the time of enumeration, and it is difficult to establish precisely the extent to which respondents’ perception of the future accords with the underlying trends. The enumeration period for this survey round was from December 1, 2025 to January 9, 2026.
Volume of Business/Output
Respondents in most of the surveyed sectors expect their volume of business/output to decrease on balance or remain broadly unchanged in Q1 2026 as compared with Q4 2025. In particular, significantly more respondents in the accommodation and food services and construction sectors expect their volume of business/construction output to decrease in Q1 2026 over Q4 2025. On the contrary, in the financing and insurance sector, more respondents expect their volume of business to increase, as compared to those expecting it to decrease.
Employment
Respondents in half of the surveyed sectors expect their employment to remain broadly unchanged in Q1 2026 as compared with Q4 2025. However, significantly more respondents in the construction sector expect their employment to decrease in Q1 2026 over Q4 2025. On the contrary, in the manufacturing and real estate sectors, more respondents expect their employment to increase, as compared to those expecting it to decrease.
Selling Price/Service Charge
Respondents in most of the surveyed sectors expect their selling prices/service charges to remain broadly unchanged in Q1 2026 as compared with Q4 2025. However, more respondents in the construction sector expect their tender prices to go down in Q1 2026 over Q4 2025.
Commentary
A Government spokesman said that the overall near-term business outlook among large enterprises was largely stable for the first quarter of 2026, while the overall hiring appetite showed some slight easing.
Looking forward, the spokesman said that the continued positive momentum of the Hong Kong economy will support local business sentiment. Meanwhile, the Government will stay vigilant to the various uncertainties in the external environment.
Further Information
The survey gathers views on short-term business performance from the senior management of about 570 prominent companies in various sectors in Hong Kong with a view to providing a quick reference, with minimum time lag, for predicting the short-term future economic performance of the local economy.
The survey covers 10 major sectors in Hong Kong, namely manufacturing; construction; import/export trade and wholesale; retail; accommodation and food services (mainly covering services rendered by hotels and restaurants); transportation, storage and courier services; information and communications; financing and insurance; real estate; and professional and business services sectors.
Views collected in the survey refer only to those of respondents on their own companies rather than those on the respective sectors they are engaged in, and are limited to the expected direction of quarter-to-quarter change (e.g. “up”, “same” or “down”) but not the magnitude of change. In collecting views on the quarter-to-quarter changes, if the variable in question is subject to seasonal variations, respondents are asked to provide the expected changes after excluding the normal seasonal variations.
Survey results are generally presented as “net balance”, i.e. the difference between the percentage of respondents choosing “up” and that choosing “down”. The percentage distribution of respondents among various response categories (e.g. “up”, “same” and “down”) reflects how varied their business expectations are. The “net balance”, with its appropriate sign, indicates the direction of expected change in the variable concerned. A positive sign indicates a likely upward trend while a negative sign indicates a likely downward trend. However, the magnitude of the “net balance” reflects only the prevalence of optimism or pessimism, but not the magnitude of expected change, since information relating to such magnitude is not collected in the survey.
Furthermore, owing to sample size constraint, care should be taken in interpreting survey results involving a small percentage (e.g. less than 10%) of respondents in individual sectors.
Chart 1 shows the views on expected changes in business situation for the period Q1 2025 to Q1 2026.
Table 1 shows the net balances of views on expectations in respect of different variables for Q1 2026.
The survey results are published in greater detail in the “Report on Quarterly Business Tendency Survey, Q1 2026”. Users can browse and download the publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1110008&scode=300
Users who have enquiries about the survey results may contact the Business Expectation Statistics Section of the C&SD (Tel: 3903 7263; E-mail: business-prospects@censtatd.gov.hkIssued at HKT 16:30
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Tenders invited for development of Advanced Construction Industry Building in Tsing Yi
Source: Hong Kong Government special administrative region
Tenders invited for development of Advanced Construction Industry Building in Tsing Yi
A spokesman for the Development Bureau (DEVB) said that the ACIB in Tsing Yi, covering an area of about three hectares, will be the first multi-storey advanced facility dedicated to the construction industry, aiming to drive the adoption of advanced construction technologies and enhance productivity and efficiency through synergy. It will facilitate the sustainable development of the construction industry and enable better land use. The land is being used by a low-density steel rebar prefabrication yard under a short-term tenancy. The Government will utilise the land to develop the multi-storey ACIB, providing more floor areas to set up advanced manufacturing facilities related to the construction industry. Construction is scheduled to commence in the second half of 2026, with commissioning targeted for 2028.
The 2025 Policy Address announced that the DEVB would take forward the ACIB project to provide a dedicated facility for the construction industry, featuring a multi-storey design to house steel rebar prefabrication yards, processing sites for Multi-trade Integrated Mechanical, Electrical, and Plumbing (MiMEP), and other advanced manufacturing facilities, so as to promote wider adoption of high productivity construction methods in the industry and enhance new quality productive forces. In May 2025, the DEVB invited the market to submit expressions of interest for this project and offer innovative and practicable suggestions on the relevant advanced facilities in the building. The Bureau subsequently reviewed seven submissions received mainly from local and Mainland contractors and operators related to the construction industry. The views collected were used to formulate the details of the open tender.
Under the 30-year contract adopting a Build-Operate-Transfer (BOT) approach, the successful tenderer will be responsible for project financing, design, construction and operation. Upon expiry of the contract, the whole building including all manufacturing facilities and equipment shall be transferred to the Government. Advanced production facilities to be provided in the ACIB shall include:
(1) Not less than 15 000 square metres of floor area for steel rebar prefabrication yards;
(2) Not less than 5 000 sq m of floor area for MiMEP processing sites; and
(3) Not less than 5 000 sq m of floor area for lease to the industry for operating steel rebar prefabrication yards or MiMEP processing sites.
Under the two-envelope tender arrangement, a weighting of 70 per cent will be allocated to the assessment of the non-price proposal and 30 per cent to the price proposal. The tender must comply with both the non-price and price requirements. The assessment criteria for the non-price proposal mainly include the tenderer’s experience in managing and operating manufacturing facilities relevant to the construction industry, the overall planning and design of the building, innovative technologies for constructing and operating the advanced manufacturing building and facilities, the annual production capacity of the facilities, and other proposed advanced manufacturing facilities. The detailed assessment criteria are set out in the tender documents.
The tender notice was gazetted today and uploaded to the DEVB’s website (www.devb.gov.hk/en/tender_notices/index.html
For enquiries, please call 3509 8672 during office hours.
Issued at HKT 11:00
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Marine fish culture licences for operation in Mirs Bay fish culture zone open for applications
Source: Hong Kong Government special administrative region
Marine fish culture licences for operation in Mirs Bay fish culture zone open for applicationsIssued at HKT 16:33
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Session on Golden Week visits held
Source: Hong Kong Information Services
Secretary for Culture, Sports & Tourism Rosanna Law today chaired a meeting to co-ordinate preparations for visitor arrivals to Hong Kong during the Mainland’s Chinese New Year Golden Week from February 15 to 23.
Miss Law noted that various districts in Hong Kong will host festive events to create a vibrant New Year atmosphere, leading the Government to estimate a significant increase in visitor arrivals during the CNY Golden Week.
Relevant departments will work closely with related organisations and the travel trade to ensure quality travel experiences for visitors, allowing them to enjoy the city’s unique festive atmosphere.
Close communication will be maintained between relevant parties leading up to the CNY Golden Week to advance visitor reception preparations and provide updates to the interdepartmental working group on festival arrangements, chaired by the Chief Secretary.
Representatives from Police, the Customs & Excise Department, the Immigration and Transport departments along with District Offices, tourism-related organisations, major tourist attractions and the hotel industry took part in today’s session.
Fisheries licence applications open
Source: Hong Kong Information Services
Applications for licenses to operate in the Mirs Bay fish culture zone are open from now until April 30, the Agriculture, Fisheries & Conservation Department announced today.
The department outlined that the Mirs Bay fish culture zone is located in open waters with favourable currents, making it suitable for the adoption of modern aquaculture facilities and technologies – including steel truss cages and high-density polyethylene gravity-type cages, which have strong wind and wave resistance.
It said the establishment of new fish culture zones enables the aquaculture industry to operate intensively, and to transition towards modernised and sustainable operations.
Interested parties hoping to operate in the Mirs Bay fish culture zone may consider applying for marine fish culture licences, either with the help of funding from the Sustainable Fisheries Development Fund or through self-financed mariculture businesses.
A briefing session will be held on February 13 to introduce the application process and licensing requirements.
Director General David Cheng-Wei Wu Received New Year Blessings from the Buddha’s Light International Association Sydney Chapter
Source: Republic of China Taiwan
Director General David Cheng-Wei Wu warmly welcomed the visit of the Buddha’s Light International Association (BLIA) Sydney Chapter delegation, led by Ms. Chen, Ms. Hsu and Ms. Chiao, accompanied by Mr. Jack Lin, Senior Advisor of the Overseas Community Affairs Council (OCAC). On behalf of Venerable Manko, the delegation presented Nan Tien Temple’s Laba congee (also known as Eight Treasure Congee), a 2026 desk calendar, and a Spring Festival couplet written by Venerable Master Hsing Yun, conveying blessings of harmony, auspiciousness and joy.
Director General Wu praised Fo Guang Shan Nan Tien Temple for its longstanding commitment to charitable work and its important contributions to promoting Taiwan–Australia exchanges in education and religion. Director General Wu and the visiting delegation exchanged warm New Year greetings, extending their best wishes for a prosperous and auspicious Year of the Horse, with peace and good health.
BSMI Accelerates the Development of National Hydrogen Fuel Cell Standards to Align with International Practices and Drive Industry Growth
Source: Republic of China Taiwan
The Bureau of Standards, Metrology and Inspection (BSMI) stated today (January 15) that, to ensure the safety and performance of hydrogen fuel cell applications, the international practice primarily follows the IEC 62282 series of standards for the testing and verification of hydrogen fuel cell power generation systems and their components.
To accelerate the alignment of Taiwan’s hydrogen fuel cell standards with international benchmarks, BSMI established an inter-ministerial Hydrogen Energy Standards Working Group in 2024. The working group systematically reviews and analyzes relevant international standards while continuously coordinating standardization requirements with government agencies and state-owned enterprises.
BSMI further noted that, as of the end of 2025, a total of 17 CNS national standards related to hydrogen fuel cells have been completed. These standards cover the mainstream Proton Exchange Membrane Fuel Cells (PEMFC) and Solid Oxide Fuel Cells (SOFC) currently available on the market, encompassing safety, performance, and testing and verification requirements from single cells, stacks, and modules through to complete power generation systems. In addition, standards for mobile grid-connected, vehicle-mounted, and micro-scale hydrogen fuel cell power generation systems will be established and revised in phases to address product safety and testing requirements in resilient power grids, transportation systems, and consumer electronics.
Moreover, in coordination with relevant policy initiatives, BSMI will establish local testing capabilities for hydrogen fuel cell systems at the 100 kW scale, providing domestic industries with testing and verification services and reducing the cost and time associated with overseas testing. To keep pace with international developments, BSMI will continue reviewing and revising relevant safety and testing standards, providing guidance for government, industry, academia, and research institutions, while driving industrial development and technological advancement.
Hydrogen fuel cells offer advantages such as high energy density, low noise, minimal pollution and carbon emissions, diverse fuel options, and long-duration operation. They can serve as distributed power sources for resilient power grids, effectively addressing noise and exhaust emissions commonly associated with conventional diesel generators. Hydrogen fuel cells can also provide power for transportation applications (such as vehicles and vessels), compact electronic devices (including laptops and portable power banks), as well as backup power supply for critical facilities, including hospitals and emergency shelters.
Responsible Division: Inspection Technical Division
Contact Person: Yang Li-yuan, Deputy Director, Inspection Technology Division
Telephone: 02-23431700 ext. 3311;
Email: ly.yang@bsmi.gov.tw
FS concludes Davos visit
Source: Hong Kong Information Services
Financial Secretary Paul Chan today departed Davos, Switzerland to return to Hong Kong after concluding his attendance at the World Economic Forum (WEF) Annual Meeting.
Yesterday, Mr Chan spoke at a thematic session focused on how public-private collaboration can advance carbon neutrality goals against a backdrop of geopolitical tensions, a global economic slowdown, and high debt levels in advanced economies.
Mr Chan highlighted that both China and Hong Kong are steadily progressing towards carbon neutrality. He explained Hong Kong’s target of achieving carbon neutrality by 2050 and its strategies to realise it – including tax concessions for electric vehicles, incentives for green buildings, and financial support for trials of innovative technologies such as sustainable hydrogen-powered transport.
He said that, as an international financial centre, Hong Kong facilitates private capital participation in the decarbonisation process through a rich green finance ecosystem that includes green bonds and Environmental, Social & Governance funds.
Mr Chan outlined that the Hong Kong Special Administrative Region Government encourages financial innovation, including the issuance of tokenised green bonds to allow wider investor participation in green projects, and the securitisation of loans for infrastructure projects to release capital for reinvestment into new projects.
The finance chief stressed that public support and trust are key to achieving a green transition, adding that Hong Kong SAR Government ensures that funds are genuinely used for green projects by formulating internationally aligned standards.
He said that for high-emission enterprises, such as mining companies, listing in Hong Kong not only enables them to access capital to support their development but also helps enhance their corporate governance, transparency and recognition in global markets.
The Financial Sectary also met WEF President & Chief Executive Officer Børge Brende, and International Monetary Fund First Deputy Managing Director Dan Katz to exchange views on various aspects of global finance.
In addition, he held meetings with PricewaterhouseCoopers Global Chairman Mohamed Kande, AXA Group Chief Executive Officer Thomas Buberl, and Amazon Web Services Global Public Policy Vice President Michael Punke.
President Lai presides over sixth meeting of National Climate Change Committee
Source: Republic of China Taiwan
On the afternoon of January 22, President Lai Ching-te presided over the sixth meeting of the National Climate Change Committee. In his opening statement, the president stated that facing the challenges of the global net-zero transition and extreme weather, climate governance has become a crucial factor in national security, industrial competitiveness, and social stability. He emphasized that the government will reduce carbon while supporting enterprises and commit to net zero to save the planet, continuing to improve the institutional environment and working with industries and the public to achieve cross-sector collaboration. President Lai also stated that the government will accelerate the promotion of carbon reduction, energy transition, and NDC 3.0 initiatives, and let the world see a more resilient and vibrant Taiwan.
A translation of President Lai’s remarks follows:
Today is the sixth meeting of the National Climate Change Committee. First, I would like to express gratitude to all the advisors and committee members who have continued to provide professional advice for some time now, laying a solid foundation for climate governance in Taiwan.
Climate governance and energy transition are not issues that stand alone, independent from national development; they are the core foundations supporting Taiwan’s industrial sustainability and social stability. Therefore, in the new year, we must continue our efforts, and ensure that every transition initiative is more thoroughly institutionalized and implemented.
I want to emphasize that addressing the net-zero wave in global supply chains is a total war with repercussions for the nation’s survival. The net-zero transition is a collective mission in which government, industry, and the public must participate and become partners.
The government will take on the responsibility of establishing a stable institutional environment and incentive mechanisms. At the same time, we need all industries to invest in technological upgrades, and all individuals to implement carbon reduction practices in their daily lives so that Taiwan can seize opportunities in the midst of transitional change.
At the end of last year, COP30 concluded in Brazil. In addition to emphasizing the need to accelerate action, the international community also reaffirmed its consensus on collective global action. To address the challenges of extreme weather and net-zero transition, the government, civil society, and industries must not only fulfill their own respective transition obligations. They must also cooperate across sectors and assume collective responsibility through in-depth collaboration.
Therefore, the government will accelerate the promotion and implementation of net-zero transition in the following key directions:
First, we must pragmatically reduce carbon while supporting enterprises. Now that our carbon fee system has officially taken effect, it will lead enterprises to invest in voluntary carbon reduction plans. The government will launch a pilot carbon emissions trading system, and carefully plan a Taiwan version of the Carbon Border Adjustment Mechanism. The government will support industries, help align with international standards, and turn transition pressures into competitive advantages.
Regarding the energy issues that enterprises are concerned about, I want to emphasize again that based on objective scientific data, Taiwan’s power supply will remain stable. While upholding our net-zero target, the government will continue to actively promote renewable energy and energy decarbonization, maximize green energy, and enhance power grid resilience to ensure an even more stable power supply.
Second, we must firmly commit to net zero to save the planet. At our committee meeting in January last year, we proposed the beta version of NDC 3.0 to the people of Taiwan. The administrative team has continued to listen to suggestions from all sectors and review and improve that plan, and has completed an overall carbon reduction action plan for Taiwan. These more ambitious NDC 3.0 targets demonstrate Taiwan’s firm determination to contribute to the global sustainable transition.
This kind of cooperative spirit cannot be just a concept, but must be implemented in government policy decisions and social participation. Therefore, this first committee meeting of 2026 will review the practical results of cross-sector collaboration:
First, the Ministry of Environment, Ministry of Economic Affairs, Ministry of the Interior, Ministry of Transportation and Communications, and Ministry of Agriculture will jointly report on the interim results and future prospects for net-zero transition in six major sectors. This report documents the impact of the collective efforts of the government, industry, and citizens.
Whether it is the low-carbon transition of the energy and manufacturing sectors, the transformation of residential, commercial, and transportation models, or the expansion of green agriculture, each achievement is concrete proof of the public’s collective cross-sector efforts as the government improves systems, industries introduce technology and capital, and society makes lifestyle adjustments. This proves that Taiwan has not only established a carbon reduction path, but has also demonstrated solid capabilities to execute it.
After that, the National Science and Technology Council (NSTC) will report on the implementation and results of community-driven net-zero sandboxes. Among the six major institutional innovations for transition, community-driven initiatives are key to ensuring that policies are implemented effectively.
We have used technological innovation to bring net-zero concepts into neighborhoods, extending net-zero momentum from industry chains to everyday life. When technology is transformed into a tool to solve life problems and promote mutual benefits and well-being, the shared practices of the public become the most solid social foundation for Taiwan’s sustainable development.
Fellow committee members, the climate challenge has no end. As we pursue national security, societal resilience, and investment in the future, climate governance will be the most critical concrete action we can take.
The new year will be a year full of hope and action. Let us forge greater consensus, accelerate our transition, and let the world see a more resilient and vibrant Taiwan. Thank you.
Following his statement, President Lai heard the report on the interim results and future prospects for net-zero transition in six major sectors from Minister of Environment Peng Chi-ming (彭啓明), Vice Minister of Economic Affairs Lai Chien-hsin (賴建信), Deputy Minister of the Interior Tung Chien-hung (董建宏), Minister of Transportation and Communications Chen Shih-kai (陳世凱), and Minister of Agriculture Chen Junne-jih (陳駿季), and the report on the implementation and results of community-driven net-zero sandboxes from NSTC Deputy Minister Lin Faa-jeng (林法正). Afterward, President Lai exchanged views with the committee members regarding the content of the reports.
Construction facility tender opens
Source: Hong Kong Information Services
The Government today announced the launch of an open tender for the development of the Advanced Construction Industry Building (ACIB) in Tsing Yi under a two-envelope approach, with the tender invitation scheduled to close at noon on April 22.
Covering an area of about three hectares, the ACIB will be the local construction industry’s first multi-storey facility dedicated to the adoption of advanced construction technologies aimed at enhancing productivity and efficiency.
The land is currently used by a low-density steel rebar prefabrication yard under a short-term tenancy. Construction of the ACIB is scheduled to commence in the second half of 2026, with commissioning targeted for 2028.
In May last year the Development Bureau invited the market to submit expressions of interest in the project. It subsequently reviewed seven submissions, mainly from local and Mainland construction industry contractors and operators. The views collected were used to formulate the open tender.
Under a 30-year contract, adopting a Build-Operate-Transfer approach, the successful tenderer will be responsible for project financing, design, construction and operation. Upon expiry of the contract, the whole building – including all manufacturing facilities and equipment – shall be transferred to the Government.
Facilities to be provided shall include no less than 15,000 sq m of floor area for steel rebar prefabrication; no less than 5,000 sq m for Multi-trade Integrated Mechanical, Electrical, & Plumbing (MiMEP) processing; and no less than 5,000 sq m of floor area to be leased to the industry either for steel rebar prefabrication or MiMEP processing.
Aside from the floor area to be leased, the successful tenderer will be responsible for operating the facilities mentioned, and these must have a minimum annual production capacity of 300,000 tonnes of prefabricated steel rebar and 6,000 MiMEP modules.
The tender notice was published in the Government Gazette and uploaded to the bureau website today. Call 3509 8672 for enquiries.