/PRNewswire/ The "International Communication in the New Era" Forum, jointly organised by the Hong Kong Coalition and Friday Culture Limited, was held on 31.
Worldwide leaders and scholars meet on New Strategies in International Communications HONG KONG, June 2, 2021 /PRNewswire/ The "International Communication in the New Era" Forum
Hong Kong authorities need to boost housing supply and guide residents in embracing opportunities in mainland China as they try to mend social divisions and promote the country's success to the rest of the world, according to speakers at a high-powered forum on Monday. During the "international communication in the new era" event, prominent business leaders said they expected things in the city to improve, economy and livelihood initiatives in.
Chinese Shoppers, Stuck in China, Revive Local Malls Chinese Shoppers, Stuck in China, Revive Local Malls
With travel restrictions keeping people at home, many are spending at local shops with cash they might otherwise have dropped abroad
published : 27 May 2021 at 04:00
Don t tell Chinese consumers that the shopping mall is in decline.
While shoppers on the mainland like to browse for items online, during the pandemic many said they rediscovered the joy of making purchases at bricks-and-mortar stores after being cooped up at home for weeks.
China was also the only major economy to report economic growth in 2020 after limiting the spread of the coronavirus early on and allowing people to return to work by midyear. But travel restrictions kept most from going abroad meaning local shops saw cash that might otherwise have been spent on trips to Europe, Japan or the U.S.
Last July, when Britain opened the door to tens of thousands of Hong Kong people with BNO passports, everyone forecast a capital outflow as migrants rushed to sell their homes here and buy new ones there, with prices in Hong Kong dropping as a result.
The flood of capital leaving the city is happening – but property prices here are stable, thanks to increased demand from mainlanders, especially for luxury units, and wealth created by the booming stock market, which recorded record turnover in the first quarter.
In a research report published last week, Bloomberg Intelligence said that 13,100 – 16,300 households – about 65,000 people – may move to UK with their BNO passports this year, about one per cent of households living in private property in Hong Kong. If all of them sell their homes, that would generate up to HK$150 billion in 2021 alone. So far more than 35,000 families have applied for BNO passports.