China News Service, Hong Kong, November 30 (Reporter Wang Jiacheng) The latest statistics released by the Hong Kong Special Administrative Region Census and Statistics Department on the 30th show that in October this year, the value of total retail sales in Hong Kong was provisionally estimated at 30.7 billion yuan (HK$, the same below) ), an increase of 12.0% from the same month last year.
Compared with the same period last year, the provisional estimate of the total retail sales value for the first 10 months of this year has increased by 8.5%.
In October's total retail sales value, online sales accounted for 8.0%.
The provisional estimate of the value of online retail sales for the month was 2.5 billion yuan, an increase of 29.4% from the same month last year.
Compared with the same period in 2020, the provisional estimate of the value of online retail sales for the first 10 months of 2021 has increased by 41.7%.
In an interview with a reporter from China News Agency, Associate Professor Mai Cuicai of the Department of Finance and Decision Making at Hong Kong Baptist University said that there are three reasons for the double-digit growth in October data: First, the effect of the second phase of consumer vouchers distributed by the Hong Kong Special Administrative Region Government Once again, the impact is similar to that of the first phase of consumer vouchers. Second, the epidemic in Hong Kong has eased, and the situation in October is better, with the increase in spending and socializing when people go out; third, the fourth quarter is a peak season for traditional consumption. The public's desire to buy has increased.
He predicts that Hong Kong's consumption will continue to grow, especially when the end of the year is approaching, when Christmas, Lunar New Year and other festivals are about to be ushered in. Many merchants will cut prices during this period, and restaurants will also offer different levels of discounts.
If Hong Kong can maintain the "dynamic reset", even if a new variant virus emerges, it is believed that retail sales will still increase, but the rate may decrease slightly.
A spokesman for the Hong Kong Special Administrative Region Government said that as long as the local epidemic in Hong Kong remains under control, employment and income conditions improve, coupled with the consumer voucher program, it should continue to support the retail industry in the short term.
Society must strive to achieve wider vaccinations and comply with epidemic prevention measures to strengthen the foundation for a comprehensive economic recovery.
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