China’s consumers want quality products, not just tax cuts

You would not know it from the crowds of mainlanders in Hong Kong for the Labour Day holiday, but the city’s retailers face another potential brake on cross-border shopping, on top of China’s economic slowdown, a crackdown on corruption and anti-mainlander sentiment. To boost spending at home and counter the economic slowdown, the State Council has announced that the mainland will cut tariffs on imported consumer goods that account for much discretionary buying by visitors to the city. This would narrow the price difference between Hong Kong and the mainland.

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