Guide to Hong Kong Standard Industrial Classification Code (HSIC code)
Last updated: March 2024
Starting a business in Hong Kong is a preferred choice among entrepreneurs all over the world. But before you can start a business in Hong Kong, you must register it and describe your business activity.
The Hong Kong Standard Industrial Classification Code (HSIC) is a system that classifies economic units in Hong Kong and is essential to a Hong Kong company registration. It divides each unit into relevant industry categories based on the nature of their major economic / business activities.
This article will explain all you need to know about HSIC, understand its importance, and the code that best represents your business activities.
What is a HSIC code?
HSIC stands for “Hong Kong Standard Industrial Classification.” It is a system used to classify business establishments by their economic activities.
The HSIC code helps in organizing statistical data for various industries and sectors in Hong Kong, facilitating analysis, research, and policymaking related to economic activities and business trends.
The first version of the Hong Kong Standard Industrial Classification Code (HSIC) was modeled on the ISIC Revision 2 that was introduced to the public in 1990. An updated version of HSIC V1.1 was introduced in 2001. Subsequently, the current version (HSIC V2.0) was released in 2008 and has been in use since 2009.
HSIC V2.0 is based on the International Standard Industrial Classification (ISIC) of All Economic Activities Revision 4, which is promulgated by the United Nations Statistics Division. It aims to achieve better relevance, compatibility, and continuity. HSIC V2.0 changed in structure from a 4-level to a 5-level hierarchical system now has 21 top-level groups.
How are HSIC codes used?
HSIC codes are used to classify business establishments based on their economic activities in Hong Kong. They serve several purposes:
- Data Analysis: HSIC codes help organize statistical data, making it easier to analyze trends and patterns within specific industries or sectors.
- Government Policies: Governments and policymakers use HSIC codes to assess the performance of different industries, identify areas for growth, and formulate policies to support economic development.
- Business Planning: Companies use HSIC codes to identify their industry classification, which can inform business planning, market research, and competitive analysis.
- Regulatory Compliance: Some regulatory requirements may vary based on industry classification, so HSIC codes help businesses ensure compliance with relevant regulations.
Overall, HSIC codes play a crucial role in understanding the economic landscape, guiding policymaking, and facilitating business operations in Hong Kong.
How to choose the HSIC code for my business?
HSIC V2.0 has a 5-level hierarchical system:
- The top-level categories are industry sections. There are 21 industry sections.
- Under each industry section, there are different second-level categories called industry divisions. There are 88 industry divisions.
- Under each industry division are industry groups. There are 221 industry groups.
- Under each industry group are industry classes. There are 483 industry groups.
- Finally, under each industry class are industry sub-classes designed for refined business classification. There are 1001 industry groups.
The table below shows how to read the HSIC code:
Level | No. of Categories | HSIC code format [Range] | Example |
Top level: Industry Section | 21 | 1-digit alphabet [A-U] | G – Import/ export, wholesale and retail trades |
Second level: Industry Division | 88 | 2-digit numeral [01-99] | 47- Retail trade |
Third level: Industry Group | 221 | 3-digit numeral [011-990] | 472 – Retails sale of food, beverages and tobacco in specialized stores |
Fourth level: Industry Class | 483 | 4-digit numeral [0110-9900] | 4721 – Retail sale of food in specialized stores |
Fifth level: Industry Sub-class | 1001 | 6-digit numeral [011000-990000] | 472105 – Retail sale of fruits and vegetables, fresh |
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HSIC Industry Sections
We have mentioned that HSIC V2.0 follows a 5-level hierarchical system and the top-level category is the industry sections.
Moreover, keep in mind that there are a total of 21 industry sections which are listed down below:
Section | Industry |
Industry Section A | Agriculture, forestry, and fishing |
Industry Section B | Mining and quarrying |
Industry Section C | Manufacturing |
Industry Section D | Electricity and gas supply |
Industry Section E | Water supply; sewerage, waste management and remediation activities |
Industry Section F | Construction |
Industry Section G | Import/ export, wholesale and retail trades |
Industry Section H | Transportation, storage, postal and courier services |
Industry Section I | Accommodation and food service activities |
Industry Section J | Information and communications |
Industry Section K | Financial and insurance activities |
Industry Section L | Real estate activities |
Industry Section M | Professional, scientific and technical activities |
Industry Section N | Administrative and support service activities |
Industry Section O | Public administration |
Industry Section P | Education |
Industry Section Q | Human health and social work activities |
Industry Section R | Arts, entertainment and recreation |
Industry Section S | Other service activities |
Industry Section T | Work activities within domestic households |
Industry Section U | Activities of extraterritorial organizations and bodies |
What is the right HSIC Code for my business in Hong Kong?
It is important to choose a HSIC code that is best suited for the principal activities of your business.
You should select a code that best reflects the activities for which you want to acquire a license from the state. To get a better idea, take a look at the list of industry codes (available in both Chinese and English).
To check on a specific SIC code in Hong Kong, simply use the code search tool. When you select the code, you will be able to apply for the necessary license that will allow you to operate the borders of Hong Kong.
There are also detailed explanatory notes for the industries covered in the HSIC that you may want to check for more information.
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Frequently asked questions
How do I find my HSIC code?
You can find your HSIC code by referring to the Hong Kong Standard Industrial Classification system provided by the Census and Statistics Department. It categorizes businesses into various sectors based on their primary economic activities.
Why is the HSIC code important?
The HSIC code is important as it helps classify businesses for statistical and administrative purposes. It aids in data analysis, government policymaking, business planning, and regulatory compliance.
Can I change my HSIC code?
Generally, businesses cannot change their HSIC code arbitrarily. It is assigned based on their primary economic activity. However, if your business undergoes significant changes in its operations, you may need to update your HSIC code accordingly.
Do all businesses in Hong Kong need an HSIC code?
Yes, all businesses in Hong Kong are classified under the HSIC system based on their economic activities. Having an accurate HSIC code is essential for statistical reporting, regulatory compliance, and business planning purposes.
What if I cannot find an exact match for my business activity in the HSIC code list?
You should choose the HSIC code that best corresponds to your primary business activity, even if it is not an exact match. In case of uncertainty, you can seek guidance from the relevant authorities.
Can I have multiple HSIC codes for my business in Hong Kong?
Yes, if your business engages in multiple activities across different sectors, you may register under multiple HSIC codes to accurately reflect its diverse operations.
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