Reported 12 months ago
To boost Hong Kong tourism and retail industry, China's Ministry of Commerce and other departments announced on June 28 that starting from July 1, the duty-free allowance for mainland residents entering Hong Kong and Macao will be increased from the current 5,000 yuan to 12,000 yuan, though lower than the 30,000 yuan requested by the Hong Kong CPPCC. The new policy is expected to generate up to an additional 17.6 billion HK dollars in annual consumption. This move is part of ongoing efforts by the Chinese government to assist in Hong Kong's economic recovery and promote closer economic and trade relations under the CEPA framework.
Source: YAHOO