Hong Kong’s primary service sectors experienced broad-based growth in the third quarter of 2025, registering significantly higher business receipts year-over-year, according to provisional data released by the Census and Statistics Department (C&SD). This robust performance was largely propelled by financial services and technology, contrasting with a slight downturn in the transportation sector. The findings, published on December 9, 2025, offer timely insight into the city’s economic resilience amid global market dynamics.
Financial Sectors Lead Impressive Growth
Several key industries reported double-digit increases in business receipts compared to the same period the previous year. The insurance sector saw the most dramatic spike, soaring by 40.7%. Financiers excluding traditional banking also posted substantial gains, rising 31.4%. Banking itself recorded a healthy 12.9% increase, reinforcing Hong Kong’s status as a dominant global financial hub. Furthermore, the import/export trade segments benefited significantly, jumping 24.5% year-on-year, likely reflecting improved regional trade flows.
However, not all sectors shared in the acceleration. The transportation industry faced headwinds, with its business receipts index contracting by 5.8%.
Analyzing performance by service domain, technological services emerged as a clear growth engine. The domain encompassing computer and information technology services experienced a near doubling of business receipts, surging an exceptional 99.1% year-on-year. The vital tourism, convention, and exhibition domain also saw moderate improvement, growing 4.6% as visitor numbers stabilized.
Quarterly Gains Suggest Strong Momentum
On a seasonally adjusted quarter-on-quarter basis (Q3 2025 versus Q2 2025), the momentum continued across many major service industries. Insurance once again stood out, registering a strong 23.9% increase sequentially. Similarly, computer and information technology services advanced 20.0%, and the tourism, convention, and exhibition services grew 6.8%. The only notable decline among key sectors was in warehousing and storage, which dipped by 5.6%.
A government spokesperson commented that the marked increase in business receipts across sectors like finance, trade, and technology signals strong economic recovery. These segments are critical benchmarks for the city’s overall economic health.
Favorable Outlook Depends on External Stability
Looking ahead, officials anticipate continued expansion in overall services activity. Economic drivers include sustained moderate global growth and an expected easing of U.S.-China trade tensions, which should further support trade-related businesses. Domestically, improved consumer sentiment, steady increases in visitor arrivals, buoyant financial market activity, and ongoing government initiatives aimed at diversifying the economy are expected to underpin the service sector’s growth.
Despite the optimistic forecast, authorities emphasized the necessity of closely monitoring potential external uncertainties that could impact specific industries. While the current data reflects a strong recovery, global geopolitical shifts and economic volatility remain persistent concerns that could affect Hong Kong’s highly internationalized service economy. Continued investment in digitalization, particularly demonstrated by the massive leap in IT services, is seen as crucial for maintaining competitive advantage.