Simply FIT for Hong Kong

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 ◆ Simply FIT for Hong Kong

More than two million mainlanders have poured over the border into Hong Kong since the individual travel scheme was launched at the end of last year.

Financial Secretary Mr Henry Tang estimates each has spent US$8,900 per trip, pushing about US$1.5 billion into the economy.

The effects are seen everywhere, notably in retail. Swank shops in expensive malls are busy with mainland buyers. Government figures show retail sales rocketing up 23 per cent in revenue terms, US$2 billion.

Surveys show mainlanders will this year spend about US$8.5 billion in Hong Kong, more than a quarter of all retail sales. And arrivals from other parts of China will leap 42 per cent to 12 million this year.