Hong Kongers are Increasingly Getting Their Shopping Done in Shenzhen

Lured by cheaper prices, Hong Kongers are flocking to their northern neighbor, especially during public holidays

0 0
1 day ago 1 mins read

Over the recent Easter holiday, more than a million departures were recorded between Hong Kong and the neighboring city of Shenzhen. The Luohu Port of Entry has become the top choice of destination for Hong Kong visitors traveling to the Chinese mainland, due to its convenient connections with Hong Kong’s metro system.

In an interview with TVB News on Mar 29th, Hong Kong residents shared various reasons for visiting mainland. One Mr. Lai expressed his desire for quicker passage through the port to reunite with his family. Meanwhile, others were more drawn to making everyday purchases in Shenzhen, often returning with suitcases full of goods bought there. The lower prices in Shenzhen, attributed to cheaper rent and lower taxes, make it an attractive shopping destination.

The trend of Hong Kongers heading north reflects the economic challenges facing the city. Three years of import and export regulations have led to a loss of foreign investment and deflation, reducing the purchasing power of locals. Despite the government’s efforts, such as the consumption voucher scheme launched in April 2023, travelers continue to seek better deals in Shenzhen. RADII spoke to Hong Kong residents who are even willing to carry up to 10 kilograms of groceries back home from bulk-buy stores in Shenzhen such as Sam’s Club, where prices are 10 percent cheaper than in Hong Kong.

These trips may have negative implications for the Hong Kong economy. Data from the Hong Kong dining guide website Open Rice reveals that over a thousand restaurants closed between September and November 2023. Hong Kong businesses face the challenge of competing with rapidly evolving brands in the mainland while maintaining standards, despite higher prices.

In the meantime, Shenzhen continues to offer tempting attractions for Hong Kong residents, encouraging the Special Administrative Region to search for innovative solutions to sustain its competitiveness in the face of changing consumer behaviors and market dynamics.

Banner image via Sing Tao Daily.

Join the Conversation
Write comment

Use this time to reassess your life choices