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Shenzhen cap of weekly cross-border trips greeted with caution in HK [Copy link] 中文

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Post time 2015-4-14 15:08:40 |Display all floors

Shenzhen's permanent residents are now limited to one visit a week to Hong Kong in an attempt to deter parallel-goods traders, but Chief Executive Leung Chun-ying does not expect the situation to ease overnight.

New People's Party lawmaker Michael Tien Puk-sun also said it would take six to nine months to feel the effect of the policy change, as current holders of multiple-entry permits would still be able to travel freely while their one-year visas remained valid.

Starting from yesterday, Shenzhen residents could apply for only one-visit-per-week permits instead of the visas that were launched in 2009 to allow unlimited trips. This will slash the number of Shenzhen visitors by about 30 per cent, or 4.5 million.

Beijing's Hong Kong and Macau Affairs Office told Xinhua that the measure was adopted "at the request of the Hong Kong government". The office said: "It shows the central government's concern about Hong Kong people's lives."

Shenzhen residents who must visit Hong Kong frequently for family, business or other "special" reasons still qualified for multi-entry permits, Xinhua said.

New Territories residents have long complained of mainlanders "abusing" the old scheme to engage in parallel trading.

Leung also vowed to get tough on Hongkongers who engaged in such trading.

He said the change in policy had been planned since June, but had taken time to be realised because of counterproductive protests against the traders.

Tourism Board chairman Peter Lam Kin-ngok warned retailers and caterers might feel the impact in the next few months. He reiterated that the tourism sector hoped Beijing would add more mainland cities to an individual visit scheme that let residents of 49 cities cross the border independent of a tour group.

Lawmaker Jeffrey Lam Kin-fung, representing the commercial sector, said he understood that among the local retailers that had been serving mainly parallel-goods traders, "up to 30 per cent of [their] shops could shut down … affecting [up to] 3,000 jobs".

But a Bank of America Merrill Lynch report said while it was slashing its retail sales forecast for the city to minus 5.8 per cent year on year, "the actual hit may be less, since these visitors can raise their spending per visit".

Hong Kong-listed retail stocks slid even as the market continued its rally, with the Hang Seng Index closing up 2.73 per cent.

Cosmetics chain Bonjour fell 7.14 per cent to close at 65 HK cents and Sa Sa International was down 6.24 per cent to HK$4.06.

Christopher Cheung Wah-fung, lawmaker for the financial services sector who is also a broker, said: "Retail stocks are likely to … be haunted by the new policy in the near term."

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Post time 2015-4-15 22:53:15 |Display all floors
Now you can see Xi da da already take actions to show muscles of central gov,in order to warning Kong chan do not so aggresive ,it is  harmful for hk's economy and themselves.

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Post time 2015-4-16 10:52:29 |Display all floors
The sooner China makes Hong Kong just another province and gets rid of the border crossing the better.
I avoid Hong Kong like the plague because if its pretense at being better than the rest of China
and the trouble of using yet another currency for a few hours.
If capitalism promotes innovation and creativity then why aren't scientists and artists the richest people in a capitalist nation?

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Post time 2015-4-16 17:38:01 |Display all floors
Reminder: Author is prohibited or removed, and content is automatically blocked

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Post time 2015-4-16 18:15:38 |Display all floors
I love HK, but HK people have got this weird superiority complex that I imagine must have come from the suffering as a result of British rule. But in any case, if you befriend a HK person, they really become one of the nicest group of people you will ever meet....

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Post time 2015-4-16 22:16:10 |Display all floors
seneca Post time: 2015-4-16 21:07
You don't seem to bear the Hongkongers any cordial feelings. It is not true that they have a sup ...

Just between you and me, I love HK more than I love Mainland China. The only reason I would choose Mainland China over HK, is because I can't understand Cantonese and I don't have time to learn it.

Mainland Chinese can be arrogant to certain groups of people, but it's not a superiority is just arrogance...What HK people definitely have is a superiority complex and whether or not you want to admit it, it came as a result of being ruled by another race.

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Post time 2015-4-16 22:40:02 |Display all floors
They should apply the same to the people from HK to mainland.

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