HK's service business receipts up in Q1

HONG KONG - Business receipts in most service industries in Hong Kong showed increases in the first quarter of 2012 when compared with the first quarter of 2011, the city's Census & Statistics Department said Monday.

Warehousing and storage industries recorded a year-on-year increase in business receipts of 31.5 percent in the first quarter. Retail, insurance and courier industries also recorded increases, with all growing more than ten percent.

Import-export trade and the financing (except banking) industry recorded decreases of 4 percent and 1.6 percent respectively in business receipts during the same period.

Tourism, convention and exhibition-services domain business receipts continued to register significant year-on-year growth of 19.2 percent in the first quarter of 2012, in step with continued growth in inbound tourism.

Computer and information technology services domain receipts increased 14.7 percent.

On a seasonally adjusted quarter-to-quarter comparison, warehousing and storage industry business receipts rose 25 percent, while those of the banking industry increased 16.3 percent.