Main Social and Economic Indicators of Hong Kong Special Administrative Region
Crude birth rate refers to the number of live births occurred during a calendar year to the mid-year population of that year. It is usually expressed in terms of 1000 population.
Crude death rate refers to the number of deaths occurred during a calendar year to the mid-year population of that year. It is usually expressed in terms of 1000 population.
Expectation of life at birth refers to the average number of years of life that a male/female born in a given year can expect to live if he/she were subjected to the prevalent mortality conditions as reflected by the set of age sex specific mortality rates for that year.
Mid-year population before 1996 was compiled using the "extended de facto" approach. It includes Hong Kong Permanent and Non-permanent Residents and visitors who are in Hong Kong at the reference time-point. Hong Kong Permanent Residents temporarily away to the mainland of China and Macau are also included. Since August 2000, the "resident population" approach has been adopted in place of the "extended de facto" approach for compiling Hong Kong population figures. Revised population figures backdated to 1996 have been compiled. The population estimate compiled under the "resident population" approach is referred to as the "Hong Kong Resident Population". The "Hong Kong Resident Population" comprises "Usual Residents" and "Mobile Residents". "Usual Residents" refer to two categories of people : (1) Hong Kong Permanent Residents who have stayed in Hong Kong for at least three months during the six months before or for at least three months during the six months after the reference time-point, regardless of whether they are in Hong Kong or not at the reference time-point; and (2) Hong Kong Non-permanent Residents who are in Hong Kong at the reference time-point. As for "Mobile Residents", they are Hong Kong Permanent Residents who have stayed in Hong Kong for at least one month but less than three months during the six months before or for at least one month but less than three months during the six months after the reference time-point, regardless of whether they are in Hong Kong or not at the reference time-point. Under the new approach, visitors are not included in the Hong Kong Population.
Total fertility rate refers to the average number of children that would be born alive to 1000 women during their lifetime if they were to pass through all their childbearing years following the age-specific fertility rates of a given year.
Infant mortality rate refers to the number of deaths aged under one occurred during a calendar year per 1000 live births in the same year.
Labour force refers to the land-based non-institutional population aged 15 and over who satisfy the criteria for inclusion in the employed population or the unemployed population.
Labour force participation rate refers to the proportion of labour force in the land-based non-institutional population aged 15 and over.
Employed population consists of persons aged 15 and over who have been at work for pay or profit during the seven days before enumeration or who have had formal job attachment. Unpaid family workers and persons who were on leave/holiday during the seven days before enumeration are included.
Unemployed population comprises all those persons aged 15 and over who have not had a job, have not performed any work for pay or profit, have been available for work during the seven days before enumeration and have sought work during the thirty days before enumeration. It also includes persons without a job who have sought work but unavailable for work because of temporary sickness; and persons without a job who have been available for work but have not sought work because they (I) have made arrangements to take up a new job or to start business at a subsequent date; or (II) were expecting to return to their original jobs; or (III) believed that work was not available to them (discouraged workers).
Unemployment rate refers to the proportion of unemployed persons in the labour force.
Underemployed population comprises those employed persons who have involuntarily worked less than thirty-five hours during the seven days before enumeration and have sought additional work during the thirty days before enumeration, or have not sought additional work but have been available for additional work during the seven days before enumeration.
Underemployment rate refers to the proportion of underemployed persons in the labour force.
Real wage index indicates changes in the purchasing power of the amount of money earned as wages by employees up to supervisory level and is obtained by deflating the nominal wage index by the Consumer Price Index(A).
Gross Domestic Product (GDP) is a measure of the total value of production of all resident producing units of a country or territory in a specified period, before deducting allowance for consumption of fixed capital.
Per capita GDP of a country or territory is obtained by dividing total GDP in a year by the population of that country or territory in the same year.
Gross National Product (GNP) refers to the total income of the residents of a country or region from engaging in various economic activities, irrespective of whether the economic activities are carried out in the economic territory of the country or region or not. In other words, the gross national product should include the income of the residents engaged in various economic activities within or outside the economic territory of the country or region, but exclude the income of non-residents engaged in economic activities in the economic territory of the country or region. The following formula is used in the calculation of the gross national product:
GNP = Gross Domestic Product
+Factor income earned by residents from outside
the economic territory of the country or region
-Factor income earned by non-residents from within
the economic territory of the country or region.
Per capita GNP of a country or a region refers to the gross national product of the country or region in a year divided by the total population in the same year.
The components of factor income are mainly classified into investment income and compensation of employees. Investment income includes direct investment income, portfolio income and other investment income.
The items "Balance of Payments accounts" until "Reserve assets" are applicable to balance of payments account (Table 22-10):
Balance of Payments (BOP) account is a statistical statement that systematically summarizes, for a specific time period, the economic transactions of an economy with the rest of the world. A complete BoP account comprises two broad accounts: (a) Current Account; (b) Capital and Financial Account.
Current account largely measures flow of real resources, including exports and imports of good and services, income receivable and payable abroad, and current transfers to and from abroad.
Goods comprise all movable goods that change ownership from residents to non-residents (exports) and from non-residents to residents (imports).
Services include services rendered by residents to non-residents (exports) and by non-residents to residents (imports).
Income consists of earnings by residents from non-residents (income receivable) and by non-residents from residents (income payable) for the provision of factors of production.
Current transfers are those transactions in which an economy provides to other economies real or financial resources, that are immediately or shortly consumed, without receiving equivalent values in return.
Capital account measures external transactions in capital transfers, and in acquisition or disposal of non-produced, non-financial assets.
Capital transfers are transfers of ownership of a fixed asset or the forgiveness of a liability without receiving any economic value in return.
Financial account records transactions in financial assets and liabilities between residents and non-residents. It shows how an economy's external transactions are financed. Transactions in the financial account are classified into direct investment, portfolio investment, financial derivatives, other investment and reserve assets.
Direct investment refers to external investment in which an investor of an economy acquires a lasting interest and an effective control over the management of an enterprise located in another economy.
Portfolio investment refers to investment in non-resident equity securities and debt securities (e.g. bonds and notes, money market instruments), for which the investors have no lasting interest or influence in the management of the companies they invest.
Financial derivatives are financial instruments that are linked to a specific financial instrument or indicator or commodity, and through which specific financial risks can be traded in financial markets (including on Exchange and over the counter) in their own right.
Other investment refers to other financial claims on and liabilities to non-residents that are not classified as direct investment, portfolio investment, financial derivatives or reserve assets.
Reserve assets consist of external assets that are readily available to and controlled by monetary authorities of an economy (in the case of Hong Kong, the Hong Kong Monetary Authority) for directly financing payment imbalances and for indirectly regulating the magnitude of such imbalances through intervention in foreign exchange markets to affect the currency exchange rate of that economy.
Index of industrial production measures the changes in local manufacturing output in real terms, i.e. changes in the volume of local production after discounting the effect of price changes.
Assignments of building units refer to documents which effect the transfer of ownership of property of undivided shares of a lot, i.e. building units.
Buildings with consents to commence work refer to buildings with consents to commence building works issued by the Buildings Department. Such "consents" are issued to private development projects (including Hong Kong Housing Society's projects) and Hong Kong Housing Authority's development projects under the Private Sector Participation Scheme, except small houses in the New Territories where "consents" are not required.
Usable floor area is defined as the aggregate of the areas of the floor or floors in a storey or a building excluding any staircases, public circulation space, lift landings, lavatories, water-closets, kitchens and any space occupied by machinery for any lift, air-conditioning system or similar service provided for the building.
Tenure of accommodation refers to the terms or conditions under which accommodation is held by a household. The different terms are defined as follows:
Owner-occupier refers to a household which owns the quarters it occupies.
Sole tenant refers to a household which rents the whole quarters it occupies from someone who lives outside the quarters without sharing it with other household(s) or subletting.
Co-tenant refers to two or more households each of which rents part of a quarters from someone who lives outside the quarters.
Main tenant refers to a household which rents the whole quarters it occupies from someone who lives outside the quarters and sublets part of it to other household(s).
Sub-tenant refers to a household which rents part of a quarters from someone who lives in the same quarters.
Rent free refers to a household which occupies an accommodation free, with or without the owner's permission. This excludes households occupying accommodation provided by employers.
Provided by employer refers to a household which occupies an accommodation provided by the employer of one of the household members. This also includes households occupying quarters leased from employers at a nominal rent. If a household member uses housing allowance given by his employer for renting accommodation, the tenure is not considered as provided by employer.
Inward and outward movements of passenger trains refer to the through train services operated by the Kowloon-Canton Railway Corporation (KCRC) between Hong Kong and the mainland of China.
Inward and outward movements of motor vehicles refer to traffic through the Control Points at Lok Ma Chau, Man Kam To and Sha Tau Kok to and from the mainland of China.
Motor vehicle licensing conveys the right for a vehicle to be driven on a road. The valid period is either four months or a year. The total vehicles licensed figure refers to end of the year position.
Hotel room occupancy rate is compiled based on daily number of rooms available for sale only. Rooms under repair or being refurbished are excluded.
Domestic exports are the natural produce of Hong Kong or the products of a manufacturing process in Hong Kong which has changed permanently the shape, nature, form or utility of the basic materials used in manufacture. Their values are recorded on f.o.b (free-on-board) basis.
Re-exports are products which have previously been imported into Hong Kong and which are re-exported without having undergone in Hong Kong a manufacturing process which has changed permanently the shape, nature, form or utility of the product. Their values are recorded on f.o.b (free-on-board) basis.
Imports are goods which have been produced or manufactured in places outside the jurisdiction of Hong Kong and brought into Hong Kong for domestic use or for subsequent re-export as well as Hong Kong products re-imported. Their values are recorded on c.i.f. (cost, insurance and freight) basis.
Exports to the mainland of China for outward processing refer to raw materials or semi-manufactures exported from or through Hong Kong to the mainland of China for processing with a contractual arrangement for subsequent re-importation of the processed goods into Hong Kong.
Imports from the mainland of China related to outward processing refer to processed goods imported from the mainland of China of which all or part of the raw materials or semi-manufactures have been under contractual arrangement exported from or through Hong Kong to the mainland of China for processing.
Re-exports of the mainland of China origin to other places involving outward processing in the mainland of China refer to processed goods re-exported through Hong Kong of which all or part of the raw materials or semi-manufactures have been exported from or through Hong Kong to the mainland of China for processing with a contractual arrangement for subsequent re-importation of the processed goods into Hong Kong.
The items "Direct investment" until "Flow of direct investment" are applicable to direct investment (Table 22-24 and 22-25):
Direct investment represents investment which allows investors in one economy, on a long term basis, to influence or have an effective voice in the management of an enterprise in another economy. For statistical purpose, an effective voice is taken as equivalent to a holding of 10% or more of the equity in an enterprise. Direct investment comprises equity capital, reinvested earnings and other capital. Equity capital means equity in branches, stock and shares in subsidiaries and associates. Reinvested earnings consist of investors' share of earnings of their subsidiaries or associates not distributed as dividends. Other capital involves inter-company debt transactions. These include short-term or long-term borrowing and lending of funds between parent companies and their subsidiaries, associates and branches.
Inward direct investment refers to direct investment in a Hong Kong enterprise by a non-Hong Kong resident. Typical examples of inward direct investment are multinational corporations' branches and subsidiaries operating in Hong Kong.
Outward direct investment refers to direct investment by a Hong Kong resident in a non-resident enterprise.
Position of direct investment refers to the value of investment abroad and investment received from abroad of Hong Kong residents at a specified date.
Flow of direct investment refers to the additions/withdrawal of investment abroad or investment received from abroad of Hong Kong residents during a period.
A regional headquarters is an office which controls the operation of other offices or branches of the company in the region, and manages the business in the region without frequent referrals to its parent company.
A regional office is an office which coordinates offices/operations elsewhere in the region in addition to the city in which it is located, and manages the business but with frequent referrals to its parent company or a regional headquarters.
The Loan Fund is used to finance schemes of the HKSAR Government loans, such as housing loans and students loans. The main sources of income are appropriations from the General Revenue Account, loan repayments and interest on loans.
Effective exchange rate indices(EERI) measure movements in the weighted average of the exchange rate of Hong Kong Dollar (HKD)against the currencies of major trading partners of Hong Kong.
Exchange rates between Hong Kong Dollar and other currencies refer to the average closing middle market telegraphic transfer rates or notes rates.
Authorized institutions include licensed banks, restricted licence banks and deposit-taking companies.
Licensed banks can accept deposits of any size and maturity. Before 1 October 1994, interest rates payable to HK dollar time deposits of less than HK$500,000 for a maturity under fifteen months, were governed by the Interest Rate Rules of the Hong Kong Association of Banks. However, the Interest Rate Rules have been liberalized by phases since then. As from 2 November 1995, the rules only apply to current accounts, savings accounts and time deposits with a maturity below seven days.
Restricted licence banks can accept time deposits in amounts of not less than HK$500,000 with any term of maturity. There is no restriction on interest rate payable.
Deposit-taking companies can accept time deposits in amounts of not less than HK$100, 000 with a term of maturity of at least three months. There is no restriction on interest rate payable.
Foreign currency swap deposits refer to deposits involving customers buying foreign currencies in the spot market and placing them as deposits with authorized institutions, while at the same time entering into a contract to sell such foreign currencies (principal plus interest) forward in line with the maturity of such deposits. For most analytical purpose, they should be regarded as Hong Kong dollar time deposits.
Money supply definition 1 (M1) refers to the sum of legal tender notes and coins held by the public plus customers' demand deposits placed with licensed banks.
Money supply definition 2 (M2) refers to the sum of M1 plus customers' savings and time deposits with licensed banks, plus negotiable certificates of deposits issued by licensed banks held by non-authorized institutions.
Money supply definition 3 (M3) refers to the sum of M2 plus customer deposits with restricted licence banks and deposit-taking companies plus negotiable certificates of deposits issued by restricted licence banks and deposit-taking companies held by non-authorized institutions.
Hang Seng Index launched on 24 November 1969, is the key barometer of the Hong Kong stock market and reflects general price movements and the performance of the market as a whole.
Consumer Price Index (CPI) summarizes changes in the price level of consumer goods and services purchased by households. Its change measures the change over time in the total cost of a given basket of goods and services. Its year-on-year rate of change is an important indicator of inflation affecting consumers. The year-on-year rate of change is the percentage increase or decrease in the current index compared to that in the same period of preceding year.
Different CPIs are compiled by the Census and Statistics Department of the HKSAR to reflect the impact of consumer price changes on households in different expenditure ranges. The CPI(A), CPI(B) and CPI(C) are compiled based on the expenditure patterns of households in the relatively low, medium and relatively high expenditure ranges. A Composite CPI is compiled based on the expenditure patterns of all households taken together to reflect the impact of consumer price changes on the household sector as a whole.
The expenditure weights of the CPIs are updated once every five years. The expenditure weights currently in use are derived from the results of the Household Expenditure Survey conducted in 1999/2000 .
Educational attainment refers to the highest level of education ever attained by a person in school or other educational institution, regardless of whether he/she had completed the course. Only formal courses are counted as educational attainment. A formal course shall be one that lasts for at least one academic year, requires specific academic qualification for entrance (except degree, associate degree and sub-degree course offered by the Open Learning Institute of Hong Kong, i.e. the present Open University of Hong Kong) and includes examinations or specific academic assessment procedures.
Kindergarten refers to all classes in kindergarten.
Non-degree course refers to all higher diploma/endorsement certificate courses in technical institutes/technical colleges (technical institutes and technical colleges were merged as the Hong Kong Institute of Vocational Education in 1999)/polytechnics (the present universities), associateship and other non-associateship courses in polytechnics (the present universities) and other post-secondary colleges. Certificate/diploma courses in colleges/institute of education and in the Hong Kong Technical Teachers' College and nurse training courses are also included in his category.
Degree course refers to all first degree courses and post-graduate courses in tertiary educational institutions in Hong Kong and overseas.
Social Security Schemes aim to provide for the basic and special needs of the members of our community who are in need of financial or material assistance. The non-contributory social security system comprises: the Comprehensive Social Security Assistance Scheme, the Social Security Allowance Scheme, the Criminal and Law Enforcement Injuries Compensation Scheme, the Traffic Accident Victims Assistance Scheme and Emergency Relief.
The Comprehensive Social Security Assistance (CSSA) Scheme (known as Public Assistance (PA) Scheme before 1 July 1993), which is means-tested, is designed to provide financial assistance to bring the income of needy individuals or families up to a prescribed level to meet their basic needs.
The Social Security Allowance (SSA) Scheme (known as Special Needs Allowance (SNA) Scheme before 1 July 1993) comprises Old Age Allowance (OAA) and Disability Allowance (DA). It provides monthly allowance to elderly persons aged 65 or above and severely disabled persons to meet special needs arising from old age or disability.
The Criminal and Law Enforcement Injuries Compensation (CLEIC) Scheme provides cash assistance to victims of crimes of violence and law enforcement acts (or to their dependants in case of death) on a non-means-tested basis.
The Traffic Accident Victims Assistance (TAVA) Scheme provides speedy cash assistance to road traffic accident victims (or their dependants in the case of death). It is a non-means-tested scheme which does not take into account the element of fault in causing the accident. Payments cover only personal injury and death but not damage to property.
Emergency relief is to help victims of natural and other disasters by means of material aid, including cooked meals or dry rations and other essential relief articles.
Offenders arrested refer to persons arrested for crime, whether or not they are prosecuted. Persons arrested for crime who are between the ages of 7 and 15 are called juvenile offenders and those of the ages between 16 and 20 are called young offenders.