Hong Kong – Survey on Small and Medium-Sized Enterprises Credit Conditions for First Quarter 2023
Survey on Small and Medium-Sized Enterprises Credit Conditions for First Quarter 2023
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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) published today (May 8) the results of Survey on Small and Medium-Sized Enterprises (SMEs)’ Credit Conditions for the first quarter of 2023.
Regarding SMEs’ perception of banks’ credit approval stance relative to six months ago, excluding respondents who answered “no idea/don’t know”, 85 per cent perceived a similar or easier credit approval stance in the first quarter of 2023, similar to 83 per cent in the previous quarter (Chart 1 in the Annex). 15 per cent perceived a more difficult credit approval stance, slightly down from 18 per cent in the previous quarter. The perception of a more difficult credit approval stance may not necessarily reflect actual difficulties faced by SMEs in obtaining bank credit as the perception could be affected by a number of factors, such as media/news reports, business conditions and opinions of relatives and friends.
Of respondents with existing credit lines, 79 per cent reported that banks’ stance on existing credit lines was easier or unchanged in the first quarter of 2023, compared with 82 per cent in the previous quarter (Chart 2 in the Annex). 21 per cent of the respondents reported a tighter banks’ stance on existing credit lines, compared with 18 per cent in the previous quarter. In this survey, a tighter stance on existing credit lines denotes a range of possible measures or arrangements, such as reducing unused and used credit lines, raising the interest rate, imposing additional collateral requirements, or shortening loan tenor. Therefore, respondents’ indication of banks’ stance on existing credit lines may not directly reflect banks’ supply of credit to SMEs.
The survey also gauged the results of new credit applications from SMEs. 3 per cent of the respondents reported that they had applied for new bank credit during the first quarter of 2023. Among the respondents who had already known their application outcomes, 89 per cent reported fully or partially successful applications, compared with 85 per cent in the previous quarter (Chart 3 in the Annex). 11 per cent reported unsuccessful applications, compared with 15 per cent in the previous quarter.
Owing to small sample sizes of SMEs with existing credit lines (13 per cent of surveyed SMEs) and with new credit applications (3 per cent of surveyed SMEs) during the quarter, the results could be prone to large fluctuations, and hence should be interpreted with care.
About Survey on Small and Medium-Sized Enterprises (SMEs)’ Credit Conditions
In light of the importance of SMEs to the Hong Kong economy and concerns about potential funding difficulties facing SMEs over the past few years, the HKMA has appointed the Hong Kong Productivity Council (HKPC) to carry out this survey, starting from the third quarter of 2016. This survey is conducted on a quarterly basis, covering about 2 500 SMEs from different economic sectors each time. The results of this survey can help monitor the development of SMEs’ access to bank credit from a demand-side perspective.
The results of this survey should be interpreted with caution. Similar to other opinion surveys, views collected in this survey may be affected by changes in sentiment due to idiosyncratic events that occurred over the survey period, which can make the results prone to fluctuations. Readers are advised to interpret the results together with other economic and financial information. In addition, views collected are limited to the expected direction of inter-quarter changes (e.g. “tighter”, “no change” or “easier”) without providing information about the magnitude of these changes.
Detailed tables and technical information of this survey are published on the website of the HKPC (smecc.hkpc.org).
WEBWIRE – Friday, August 5, 2022
As a nation we struggle with our self-confidence, with the average adult saying more than 1,000 negative things about themselves each year. From our hair to weight, new research from Tu Clothing has revealed that more than a fifth (21 per cent) of Brits are their own biggest critic, with 27 per cent admitting they wouldnt dream of saying some of the things they say about themselves to others.
A typical day sees the average man say or think three negative things about themselves – 1,095 times a year – while women do so four times a day, amounting to 1,460 insults a year.
Wardrobe blues
In terms of being bold with colour, the nation likes to play it safe with black being the most confidence-inducing colour to wear, followed closely by blue and grey. Only 21 per cent feel comfortable wearing yellow, and just 19 per cent would dare to wear orange.
Yet Brits outward appearance doesnt always match their inner feelings, with a fifth (21 per cent) wishing they could channel their childhood freedom to chuck on what feels good.
Zoe Hardman said: With summer approaching, many of us get nervous about getting body parts out that are hidden the rest of the year including stomachs, thighs and upper arms. We can also have those days when we lack confidence, especially when it comes to the clothes that we wear, which is why this summer I want everyone to tap into their inner child and adopt a carefree attitude when it comes to getting dressed. Kids love to wear what makes them feel great and dont give a second thought to other peoples opinions.
I want to help encourage the nation to embrace their own unique style, care less about what others think and have fun putting outfits together. Summer is a great time to embrace bold colours and patterns which increase both positivity and confidence.
The Coalition Against Piracy’s (CAP’s) most recent YouGov consumer surveys show that while piracy continues to be a major concern around the Asia Pacific region, particularly in Vietnam, Malaysia and the Philippines where 61% of consumers admit to accessing pirate services in each country, site blocking, and in particular government regulatory blocking, is having a noticeable effect in stopping consumers accessing pirated content online. Countries around the region that implement site-blocking showed a change in consumer behaviour to stop accessing piracy services due to sites being blocked and the change was most notable in those countries that used regulatory blocking. In Indonesia, more than 50% of consumers say that they have stopped or rarely access pirate services as a result of blocking, as do nearly 50% of consumers in Vietnam and 45% in Malaysia. Encouragingly, the surveys show that regular site-blocking not only stops consumers accessing pirated content online, but also drives them towards legitimate sources, with more than 48% of consumers around the region stating they would subscribe to paid online services if the content they wanted to watch was not available via a pirate source. Matthew Cheetham, General Manager of CAP, noted, “It is now clearly evident that site blocking, particularly regulatory blocking, is effective. The benefits are multi-fold, not only are consumers being directed towards legitimate content, but in being blocked from accessing pirate sites, they are also protected from the serious risks that previous CAP studies have proven are inherent in accessing pirate sites.” The surveys also illustrated the growing migration of consumption of pirate content via social media and messaging platforms. “However, the surveys also show the benefits of consumer education with a growing awareness amongst consumers of the negative consequences of piracy, most particularly via illicit profiteering and malware,” added Cheetham. For the first time, CAP’s YouGov consumer surveys were undertaken across several countries simultaneously. The surveys will be repeated across the same countries annually, and in doing so, will enable longitudinal analysis of consumer behavioural trends towards piracy and enforcement measures around the region. About the Asia Video Industry Association The Asia Video Industry Association (AVIA) is the trade association for the video industry and ecosystem in Asia Pacific. It serves to make the video industry stronger and healthier through promoting the common interests of its members. AVIA is the interlocutor for the industry with governments across the region, leads the fight against video piracy through its Coalition Against Piracy (CAP) and provides insight into the video industry through reports and conferences aimed to support a vibrant video industry. For media enquiries and additional background please contact: Charmaine Kwan
WEBWIRE – Monday, March 21, 2022
A YouGov survey has shown indies rate Channel 4 as the best broadcaster to work with.
The results of the Channel 4 Indie Survey, undertaken by YouGov, reflected the effort and work the broadcaster has put into further improving its dealings with production companies in 2021.
The survey, which received more than 100 responses, also showed that Channel 4 has consistently improved in its dealings with indies since 2019.
Channel 4 received the highest score from indies for the overall experience of working with a broadcaster or content provider. More than two thirds of respondents (68%) gave Channel 4 a score between 7-10 out of ten, up more than 20% on the previous surveys results.
And it revealed that Channel 4 is making an impact where it really matters with smaller, independent production companies. Seventy-four per cent of respondents were independent rather than being part of a group and more than half had a turnover of less than £5m. Nearly half, 46%, had their head office outside of London.
Speaking on the eve of Channel 4s unscripted indie briefings, Emma Hardy, Director of Commissioning Operations, said: Well take valuable learnings from the survey results but to have seen consistent progress over the past two years shows we are moving in the right direction and speaks volumes about the changes weve introduced and the hard work of the commissioning teams who have made huge efforts to improve the experience for indies when dealing with Channel 4.
Its particularly pleasing that the majority of responses are from smaller, independent production companies which are exactly the types of businesses Channel 4 should be nurturing.
Nearly three quarters of responses (74%) came from the most senior people in the business at CEO, Managing Director or Creative Director level.
Since appointing Rebecca Thompson as Head of Indie Relations, Channel 4 has implemented a wide range of changes to improve its dealing with production companies.
These include:
Rebecca said: Weve taken significant steps to improve how we do business with indies and its fantastic to see that this is already having such a positive impact on indies overall experience of working with Channel 4. Well be introducing more measures this year to improve our communications and systems and keep up this momentum.
Some of the changes planned for 2022 include:
Notes to Editors
A survey of leading Medicare insurance professionals finds the vast majority now offer both Medicare Advantage and Medicare Supplement solutions. The survey was conducted by the American Association for Medicare Supplement Insurance. “It’s hard to overlook the fact that 26 million Americans now opt for Medicare Advantage plan coverage,” states Jesse Slome, director of the Medicare advocacy organization. “The number is growing by roughly 2 million a year while Medicare Supplement policies in force remains rather stable at around 14 million. The Association surveyed the nearly 1,000 Medicare insurance professionals listed on the organization’s online directory. The directory connects consumers with local Medicare insurance agents. The vast majority of responding agents (95.9 %) now sell both Medicare Advantage (MA) and Medicare Supplement (Medigap) solutions. “Only 4.1 percent indicated they now only offer Medigap solutions,” Slome shares. “During the just-concluded Medicare Open Enrollment we heard back from many listed agents who helped consumers compare and choose a Medicare Advantage plan,” Slome explains. “In 2022, we are going to place greater emphasis on educating consumers and becoming the respected vehicle they choose to find local Medicare Advantage agents as well as those offering Medigap solutions.” Slome believes that consumers do not necessarily differentiate between the various Medicare options. “Consumers look for someone who can educate them about Medicare and help them find the best solution for their needs,” the Medicare insurance expert adds. “Our goal is make the online directory the nation’s leading resource for finding local professionals who can do just that.” The American Association for Medicare Supplement Insurance advocates for the importance of educated planning and supports insurance professionals who market Medicare insurance solutions. For more information, visit the organization’s website at www.medicaresupp.org. American Association for Medicare Supplement Insurance Categories
The rise of self-trolling: new survey reveals Brits are their own biggest critics, saying more than 1,000 self-deprecating comments each year
A study of 2,000 Brits found more than a fifth are their own biggest critic – especially when it comes to the way we look
Our style is another area were very hard on ourselves about, with more than a fifth of adults (23 per cent) admitting they generally struggle to find clothes they feel comfortable in and the same amount again (23 per cent) admitting they care too much about what others think of them.
Tu Clothing has teamed up with actress, TV presenter and mum of three Zoe Hardman to encourage the nation to dress for joy and embrace their inner child this summer.
Bold is beautiful
Tu has also teamed up with Sarah Powell, self-celebration expert and motivational speaker, to encourage the nation to embrace their inner child and dress in brighter, bolder colours this summer.
Sarah Powell said: I love that kids wear whatever they want, whenever they want. A tulle skirt over wellies? Sure. Jelly shoes with green socks in November? Perfect. Kids dont get bogged down with what should I wear? or whats the weather doing? or all of those things which keep us dressing for practical, sensible reasons rather than dressing for joy.
Lots of us have a playful side, and it means different things to different people. Your inner child is there and they are wearing something wonderful, so spend a little time and think what would I wear if I didnt care? What would I wear if it was just about making me feel good? Thats the attitude I want us all to have this summer.
Emma Benjafield, Director of Product at Tu Clothing, said: Ive been really looking forward to making the most of this summer and theres no better time to embrace your body and wear colours, prints and patterns. We want to encourage people of all ages to simply have fun with dressing up, to not be afraid to wear what they want, not to worry what others think.
The survey results show people think theyre too old for certain clothing items but we want to change this myth everyone should wear what they want, how they want and when they want. Fashion, after all, should be fun and make you feel good!CAP Consumer Survey Shows the Benefits of Site Blocking
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Email: charmaine@avia.org
Website: www.avia.org
LinkedIn: www.linkedin.com/company/asiavideoia
Twitter: @AsiaVideoIA
Topic: Press release summary
YouGov survey reveals Channel 4 as ‘best broadcaster experience’ for indies
AAMSI Survey Finds Leading Medicare Insurance Agents Offer Both MA and Medigap
Jesse R. Slome
818-597-3205
www.medicaresupp.org
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