Hong Kong businesses, including restaurants and grocers, are experiencing a significant drop in trade as residents flock to Shenzhen for bargains during the long Easter weekend. This mass migration is impacting property values, government land revenues, and ultimately wages. Policymakers are being questioned on the implications of this integration push.
Hong Kong restaurants lament drop in business over Easter holiday, hit hard by residents heading to mainland China and high rent | South China Morning Post https://t.co/WueB8prEww
Hong Kong’s port loses ground as exporters pivot to mainland China https://t.co/ySeTXn647i
Hong Kong restaurants lament drop in business over Easter holiday
‘Miserable’: Hong Kong restaurants lament drop in business over Easter holiday https://t.co/uOb6gtRLW0
Hong Kong’s grocers feel chill as residents rush to Shenzhen for bargains https://t.co/VjQ0i9ruoi
Hongkongers’ long weekend ‘great migration’ cuts restaurant trade by 30%. Rents must fall closer towards Shenzhen’s. Thus property values/govt land revenues as well. Ultimately, also, wages. Do policymakers pushing integration realize this? https://t.co/pQQOEPXxzE