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According to a survey released by the Hong Kong Productivity Council on Thursday, the index of SMEs in the first quarter of this year rose for two consecutive quarters, rising by a seasonally high of 2.9 to 49.4, the highest level in two and a half years. The intention of enterprises to invest in investment increased by 50 points to reflect the SME business confidence gradually established.

Today, the "Standard Chartered Hong Kong SME Leading Business Index" survey revealed that the five sub-indices in the Composite Index all rose across the board. The "Hiring Intention" continued to be positive with 53.2% of the "Intention to Investiment". Operating conditions (48.8), profitability (43.7) and Global Economy (43.4) increased by 1.7, 2.2 and 7.6 respectively.


 

"The result of this survey is encouraging. It means that Hong Kong economy will have a good chance of achieving good momentum by 2018. The steady growth of the global economy, the tightening of monetary policies by major central banks in various countries, and the acceleration of China's reform are all brought in by the confidence of local businesses A strong point. "Standard Chartered Hong Kong Greater China Senior Economist Liu Jianheng said.

He also said SME sales and earnings are expected to improve, reflecting the fact that the actual business has improved. "Intention to invest" also shows that SMEs are gradually recovering their long-term confidence in Hong Kong. All the above factors will help Hong Kong to enhance its resilience to the risks of further rate hikes from the U.S. Federal Reserve or the tense geopolitical tensions.

As for the sector, the import, export, and wholesale sector indices posted a significant rise of 4.2 points to 46.2, driven mainly by gains in "profitability" and "investment intentions". Manufacturing (42.0) and the retail sub-index (44.4) edged up by 0.7 and 1.5 respectively, which continued the upward trend, reflecting the steady improvement of the industry outlook. Among other industries, the index on finance and insurance and real estate also recorded a record high of 64.3 and 52.2 respectively since the launch of the Standard Chartered SME Index.

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