The business receipts indices of Hong Kong's financing, insurance and transportation industries showed double-digit increases in 2024, the Census and Statistics Department of the Hong Kong Special Administrative Region (HKSAR) government announced on March 11.

For 2024 as a whole, most of the major service industries recorded year-on-year increases in business receipts. The business receipts indices of the transportation industry rose by 13.8 percent, the financing (excluding banking) industry by 12.5 percent, and the insurance industry by 12.2 percent.

Comparing the fourth quarter of 2024 with the fourth quarter of 2023, the business receipts indices of the financing (except banking) industry rose by 36.3 percent, the insurance industry up 17.9 percent, transportation industry up 10.6 percent.

A spokesman for the HKSAR government said that looking ahead, the business of the service industries as a whole should continue to expand. Steady global economic growth, in particular sustained stable growth in the mainland economy thanks to strong policy support by the central government, would provide support to businesses, though some sectors might be more affected by uncertainties stemming from escalating trade protectionism in the United States.

Locally, improved sentiment in the financial market and sustained growth of employment income, together with the HKSAR government's initiatives to promote economic growth and development, will continue to bode well for various service industries.