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Hong Kong's retail sales slump in January [Copy link] 中文

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Post time 2015-3-3 17:11:35 |Display all floors

The chaos and the ensued bleak consequences everyone can expect.

FT reports

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Retail sales in the territory known as the Great Mall of China for the mainland Chinese tourists that flock there to stock up on lower-taxed luxury goods, slumped far below economists' expectations in January.

In a worrying sign for a city whose economy and property owners have become increasingly reliant on the luxury retailers whose outlets have squeezed restaurants and independent stores out of prime shopping areas, Hong Kong's retail sales fell 14.6 per cent by value in January from a year earlier.

Economists surveyed by Bloomberg had anticipated a 6.1 per cent decline.

This comes amid a slowdown in China's GDP growth to the lowest in 24 years, as the Beijing government allowed a multi-year property and credit boom to tail off.

President Xi Jinping's administration is also cracking down on corruption, which has dissuaded businessmen and suspiciously wealthy bureaucrats from buying luxury goods.

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Post time 2015-3-4 13:36:15 |Display all floors
seneca Post time: 2015-3-3 20:46
So you seem to think the well-educdated Mainlanders have taken a well-calculated decision to give  ...

mainland has its own questions but that is the spetrum of the talk point.

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Post time 2015-3-4 16:40:38 |Display all floors
The best proof that the drive against corruption is working.  The loot is drying up, not just in Hong Kong, but also in Macao.  Foreign countries that have benefited from China's corruption money will feel the pinch in short order.

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Post time 2015-3-5 15:01:11 |Display all floors
Low_key_bay Post time: 2015-3-4 18:50
BJ should help HK to its economic assisted suicide.
It's the least these ant-Motherland haters deser ...

IT'S OVER . . . CHINA'S ECONOMY IS BEING LED BY A BUNCH OF FOOLS.

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