Buying in HK shows growing consumer confidence

08:24, December 27, 2010      

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Shopping can be one of the highlights of Christmas. And for people who like the buying experience, Hong Kong may make the holiday even merrier.

The shopping paradise is ready for customers from the Chinese mainland, where the economy continues to boom.

Shopping malls are filled with customers and holiday spirit. Christmas shopping is truly an experience in Hong Kong.

Thanks to a steadily growing economy in the Chinese mainland, an increasing number of Chinese people are taking advantage of their new found wealth.

This is good news for business in Hong Kong.

The Hong Kong Retail Management Association predicts the island's total retail sales volume in December will grow 15 percent to 33.8 billion Hong Kong dollars -- a new record.

Stanley Lau, Deputy Chiarman of Federation of HK Industries, said, "One big contributor for the growth is the increase of mainland visitors' income, as well as consumer confidence."

Experts say, the influx of mainland shoppers to Hong Kong is both a product of Hong Kong business people's successful promotion tactics, and a sign of mainland people's positive outlook on the economy.

Song Min, Professor, University of Hong Kong, said, "People on the mainland are optimistic about next year's economy. The steady development of the mainland economy will boost consumption by mainland people buying in Hong Kong."

Hong Kong predicts, 35 million people tourists will visit the island. An 18 percent increase from last year. Tourists from the Chinese mainland account for 60-percent of visitors to Hong Kong. This indicates the important role that mainland travellers play in Hong island's consumer market.

Source: CNTV.cn
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