This Sept 20, 2020, photo shows a general view of the Victoria harbour next to commercial and residential buildings in Hong Kong. (MAY JAMES / AFP)

HONG KONG - Most major service industries in Hong Kong recorded income increases of different magnitudes in the fourth quarter of 2020, compared with the third quarter, official data showed Tuesday.

Business receipts of transportation, real estate and food services saw double-digit growth in the October-December period quarter-on-quarter, according to the Census and Statistics Department of the Hong Kong Special Administrative Region government. The transportation sector reported the strongest growth of 17.4 percent.

Analyzed by service domain, tourism, convention and exhibition services increased by 10.2 percent, while the computer and information technology services went up by 3 percent

Real estate also grew by 16.9 percent while food services increased by 13.3 percent. On the other hand, the banking industry registered a decrease of 6.8 percent in business receipts during the same period.

Analyzed by service domain, tourism, convention and exhibition services increased by 10.2 percent, while the computer and information technology services went up by 3 percent.

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However, on a year-on-year basis, service industries showed a mixed performance in the fourth quarter, with some still facing notable pressures amid the COVID-19 epidemic.

A government spokesman said the business environment, particularly for the consumer-facing service industries, is likely to remain challenging in the near term as the epidemic is yet to be fully contained and inbound tourism remains frozen.

He said, however, the ongoing vaccine rollout will provide the necessary conditions for a more solid and broad-based revival of economic activities in the second half of this year. 

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