The Beijing government is looking to increase Hong Kong’s duty-free shopping allowance per mainland Chinese tourist, currently 5,000 yuan (US$688). The change is likely to be significantly below the 30,000 yuan proposed by industry representatives. Since 1996, mainland tourists must pay a tax of 13 to 50 per cent for purchases exceeding the allowance. Tourism and retail industry insiders have urged for the allowance increase since borders reopened post-pandemic, as big-spending visitors have been prioritizing cultural experiences over shopping.
Travel Capitalist Ventures Expands Check Size to $10 Million to Deepen Emerging Market Conviction
Boutique Travel VC raises investment cap from $1.5M to $10M to lead rounds and support portfolio companies through growth Travel...
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