HK's tariff-free products on sale to become new trend in mainland

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Last updated at: (Beijing Time) Wednesday, December 24, 2003

HK's tariff-free products on sale to become new trend in mainland

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The Centaline (China) Professionals Limited discussed the development of shopping mall in Chinese mainland at a press conference on Tuesday and predicted that the sale of Hong Kong's tariff-free products in Chinese mainland shopping malls will become a new trend.

According to Centaline, Hong Kong's real estate companies have mainly focused on developing housing in Chinese mainland, therefore, they may lack a good grasp of the situation of the entire market of mainland.

Although the development of shopping mall thrives in Chinese mainland, Centaline suggested that Hong Kong companies should pay attention to the problems they may face investing in shopping malls in mainland.

Deputy Director of Centaline, Raymond Wei said that in the nextfew years, it may not be suitable for Hong Kong companies to invest in shopping malls in Chinese mainland. But he said that dueto the Closer Economic Partnership Arrangement (CEPA), many shopping malls in the Chinese mainland are interested in putting Hong Kong's tariff-free products on sale, so as to attract more customers. It will become a new trend as well as another way of the Hong Kong companies involved in developing shopping mall in Chinese mainland, he added.

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