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Composite Interest Rate: End of June 2025 
The composite interest rate, which is a measure of the average cost of funds of banks, decreased by 35 basis points to 1.26 per cent at the end of June 2025, from 1.61 per cent at the end of May 2025 (see Chart 1 in the Annex). The decrease in composite interest rate reflected the decreases in the weighted funding cost for deposits during the month (see Chart 2 in the Annex) (Note 2). 
 
The HKMA publishes the composite interest rate on a monthly basis. Beginning with the end-July 2025 statistics, the monthly publication will only be released in the Monthly Statistical Bulletin on the HKMA website (www.hkma.gov.hk/media/eng/doc/market-data-and-statistics/monthly-statistical-bulletin/T0605.xls 
Note 1: The composite interest rate is a weighted average interest rate of all Hong Kong dollar interest-rate-sensitive liabilities, which include deposits from customers, amounts due to banks, negotiable certificates of deposit and other debt instruments, and all other liabilities that do not involve any formal payment of interest but the values of which are sensitive to interest rate movements (such as Hong Kong dollar non-interest bearing demand deposits) on the books of banks. Data from retail banks, which account for about 90 per cent of the total customers’ deposits in the banking sector, are used in the calculation. It should be noted that the composite interest rate represents only average interest expenses. There are various other costs involved in the making of a loan, such as operating costs (e.g. staff and rental expenses), credit cost and hedging cost, which are not covered by the composite interest rate.Issued at HKT 16:30

Business expectations for the third quarter of 2025 
Business Situation
 
For all surveyed sectors taken together, the proportion of respondents expecting their business situation to be better (10%) in Q3 2025 over the preceding quarter is lower than that expecting it to be worse (18%).
 
When compared with the results of the Q2 2025 survey round, the proportion of respondents expecting a better business situation in Q3 2025 is 10%, slightly higher than the corresponding proportion in Q2 2025 (9%). On the other hand, the proportion of respondents expecting a worse business situation in Q3 2025 is broadly the same as the corresponding proportion in Q2 2025 (18%).
 
Analysed by sector, respondents in quite a number of the surveyed sectors expect their business situation to decrease on balance in Q3 2025 as compared with Q2 2025. In particular, significantly more respondents in the transportation, storage and courier services sector expect their business situation to be worse in Q3 2025 as compared with Q2 2025.
 
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 June 3, 2025 to July 7, 2025.
 
Volume of Business / Output
 
Respondents in quite a number of the surveyed sectors expect their volume of business / output to decrease on balance in Q3 2025 as compared with Q2 2025. In particular, more respondents in the construction; transportation, storage and courier services; import/export trade and wholesale; accommodation and food services; and retail sectors expect their volume of construction output / business / sales to decrease in Q3 2025 over Q2 2025.
 
Employment
 
Respondents in quite a number of the surveyed sectors expect their employment to remain broadly unchanged in Q3 2025 as compared with Q2 2025. However, more respondents in the information and communications sector expect their employment to decrease in Q3 2025 over Q2 2025. In the real estate sector, on the other hand, 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 Q3 2025 as compared with Q2 2025. However, significantly more respondents in the construction sector expect their tender prices to go down in Q3 2025 over Q2 2025.
 
Commentary
 
A Government spokesman said that the overall near-term business outlook among large enterprises for the third quarter of 2025 was slightly better than the expectation for the previous quarter, while the hiring appetite remained stable.
 
Looking forward, the spokesman said that the ongoing uncertainty in the external environment would continue to affect the local business sentiment. Nonetheless, the resilient local economy and sustained steady growth in the Mainland economy should provide support. The Government will continue to monitor the situation closely.
 
Further Information
 
The survey gathers views on short-term business performance from the senior management of about 560 prominent establishments 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 establishments 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 Q3 2024 to Q3 2025.
 
Table 1 shows the net balances of views on expectations in respect of different variables for Q3 2025.
 
The survey results are published in greater detail in the “Report on Quarterly Business Tendency Survey, Q3 2025”. 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

Food and Drugs (Composition and Labelling) (Amendment) Regulation 2025 gazetted
Through legislative amendments, mini-cup konjac-containing jelly confectionery with a height or width not exceeding 45 millimetres will be prohibited for sale in the market. In addition, other konjac jelly products must be labelled with choking warning statements on their packaging to remind consumers to exercise caution while eating. 

A Government spokesman said, “While konjac itself is a safe food additive, the smooth and slippery surface and firm texture of konjac jellies may pose a choking risk if not consumed properly. This risk is particularly high for children and the elderly. The Government has been promoting health education messages on the prevention of food choking through various channels, such as advising consumers to avoid slurping mini-cup konjac-containing jelly confectionery directly.”
“Caution: Do not swallow whole. Elderly and children must consume under supervision.
注意：勿一口吞食，長者及兒童須在監護下食用。”
The Centre for Food Safety (CFS) will continue to enhance health education on choking prevention, including issuing letters to schools, organising seminars, and sharing information on social media. In addition, the CFS will arrange technical meetings with the trade and issue user guidelines in due course to facilitate the trade’s understanding of and compliance with the new requirements.
Issued at HKT 16:00

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IAC to present bestselling novel’s first musical adaptation “The Secret Agent Spin-off: The Hidden Treasure” July 25 to 27 (with photo)Issued at HKT 16:00

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Draft Tsuen Wan Outline Zoning Plan approved 
     “The approved OZP provides a statutory land use planning framework to guide the development and redevelopment within the Tsuen Wan area”, a spokesman for the Town Planning Board said today (July 18). 
 
The planning scheme area, covering about 743.48 hectares, includes Tsuen Wan Valley and its adjoining areas and forms part of the Tsuen Wan New Town. The area extends from Wo Yi Hop Road in the east to Yau Kom Tau in the west.
 
The approved OZP has incorporated amendments shown on the draft Tsuen Wan OZP No. S/TW/38, which mainly involve (i) rezoning a site at the junction of Wing Shun Street and Texaco Road from “Government, Institution or Community (9)” to “Residential (Group A) 22” for private residential development; and (ii) rezoning a site at the junction of Ma Tau Pa Road and Texaco Road from “Comprehensive Development Area (1)” to “Commercial (7)” to facilitate redevelopment of the existing industrial buildings for commercial uses.
 
The Notes and Explanatory Statement of the OZP have been amended to reflect the above amendments. Opportunity is also taken to update the general information of various land use zonings and the planning circumstances, where appropriate.
 
The approved Tsuen Wan OZP No. S/TW/39 is available for public inspection during office hours at (i) the Secretariat of the Town Planning Board, (ii) the Planning Enquiry Counters, (iii) the Tsuen Wan and West Kowloon District Planning Office, (iv) the Tsuen Wan District Office and (v) the Tsuen Wan Rural Committee.
 
Copies of the approved OZP are available for sale at the Map Publications Centre in North Point. The electronic version of the OZP can be viewed at the Town Planning Board’s website (www.tpb.gov.hkIssued at HKT 16:00

Speech by SCST at completion ceremony of Hong Kong Maritime Museum Jockey Club Anchor Plaza (English only) 
Mr Hext (Chairman of the Hong Kong Maritime Museum, Mr Richard Hext), Mr Hunsworth (Steward of the Hong Kong Jockey Club, Mr Nicholas D Hunsworth), distinguished guests, ladies and gentlemen,
 
Good morning. As they say, weathering choppy waters is perhaps the trick of the trade of the maritime industry. So, here we are, a trail to our professionalism. It is my great pleasure to join you all today at the completion ceremony of the Hong Kong Maritime Museum Jockey Club Anchor Plaza. Even despite the weather, it is worth taking a good look at our anchor and hearing what Richard will have to say later, introducing what the Anchor’s importance is.  
 
Founded in 2005, the Hong Kong Maritime Museum has long been preserving and promoting the unique maritime history and culture of Hong Kong. As it approaches its 20th anniversary this year, the Maritime Museum’s journey has been remarkable. From its origins at Murray House in Stanley to its current home at Central Pier No. 8, the Museum has evolved into a cultural treasure, showcasing an impressive collection of maritime heritage, welcoming around 100 000 visitors every year, and establishing itself as a vital maritime landmark in Hong Kong over the past two decades. I am also glad to know that the Hong Kong Maritime Museum has been increasingly popular among tourists, with over 20 000 visitors from the Mainland of China and overseas recorded just last year.
 
Today, I am delighted to witness the completion of the Hong Kong Maritime Museum Jockey Club Anchor Plaza, one of the Chief Executive’s Community Projects. This milestone, achieved after years of dedicated efforts, represents an exciting new chapter in the development of the Museum. Featuring a striking anchor about 7 metres high and a ship-like pavilion, the Anchor Plaza will provide a brand-new public learning space, inviting visitors to explore Hong Kong’s maritime culture while adding yet another vibrant attraction to the iconic Victoria Harbour. I believe that the Anchor Plaza will draw more people to come and appreciate Hong Kong’s unique history and culture as a port city.
 
The next part of my speech is actually to give you an idea of what we give to have the museum and the support to the arts and culture scenes. But I think you would rather hear from Richard the story of the Anchor than listen to my speech. So I’m sure when I issue it as the press release, you will be able to learn about it.
 
As you are all aware, the Government has been sparing no effort in fostering the development of arts and culture in recent years. Museums play an important role in preserving and disseminating cultural heritage. Apart from continuously improving public museum services, the Culture, Sports and Tourism Bureau and the Leisure and Cultural Services Department have been actively providing robust support for private institutions like the Hong Kong Maritime Museum. From thematic exhibitions like “Across Victoria Harbour” that revisit the past of Hong Kong, to the upcoming 2025 Forum for Asia-Pacific Maritime Culture to be held at the Museum, the Hong Kong Maritime Museum has played an integral role in enriching Hong Kong’s cultural landscape and fostering international cultural exchange that complements the Government’s work in a truly meaningful way.
 
In addition to support from the Government, the successful completion of the great Anchor Plaza and the remarkable achievements of the Museum would not be possible without the dedication of the Hong Kong Maritime Museum team and the unwavering support from the Hong Kong Jockey Club, other patrons of the Museum, and the wider community. I would like to take this opportunity to express my sincere gratitude to everyone who has contributed to this project and to the ongoing growth of the Hong Kong Maritime Museum. Let’s join hands to make lasting contributions to the cultural development of Hong Kong.
 
Let me wish the completion ceremony and the future of the Hong Kong Maritime Museum to weather through the choppy weather like right now, and I wish everybody a good day. Thank you.
Issued at HKT 15:10

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HYAB invites organisations to operate youth facilities 
As announced in “The Chief Executive’s 2024 Policy Address”, the HYAB will set up a physical platform for interaction for Youth Link members in the Nam Cheong District Community Centre and the adjacent Tung Chau Street Temporary Market, which includes youth facilities such as multifunction areas, a youth culture and creativity bazaar, and small-scale performance spaces. The goal is to provide a gathering place for ongoing interaction among Youth Link members and establish a base for implementing the Youth Development Blueprint measures to encourage communication and collaboration among the Government, the Youth Development Commission and young people participating in various youth development programmes.
 
In addition, to strengthen support for unleashing the potential of young people, the HYAB will convert part of the Youth Square to establish a new interactive space for young people to gather for exchanges, to develop personal potential and participate in different activities. The HYAB will roll out the Good Stories of Hong Kong Youth Programme by reserving part of the Youth Square for setting up a video studio for young people to produce video clippings to promote good stories of Hong Kong youths, and providing relevant training on the production and filming of video clippings.

The operating organisations of the youth facilities are required to organise on-site events during the operation period. Activities may include workshops, cultural performances, collaborative projects, seminars and youth-led initiatives. The operating organisations are also required to manage the facilities and food and beverage corners.
 
Details of the projects, the application criteria and the briefing sessions are set out in the invitation of proposals, which is available on the HYAB website (www.hyab.gov.hk 
The deadline for application is 5pm on August 19.
Issued at HKT 15:00