Hongkong'S Retail Industry Is In A Difficult Period.

In April 2015, the exit and Entry Administration Department of the Shenzhen Municipal Public Security Bureau began to issue a signed multi line endorsement to Shenzhen residents, instead of one Monday.

Under the influence of many factors, the number of visitors to Hong Kong has changed dramatically.

In June 2015, the number of visitors to Hong Kong continued to decline for 7 months.

With the slowdown in the number of visitors to Hong Kong, the retail industry in Hongkong has also faced a difficult period.

According to the latest retail sales figures released by the census and Statistics Department of the Hongkong Special Administrative Region in February 2nd, the total retail sales value in 2015 was HK $475 billion 200 million, down 3.7% from 2014, the biggest record since 2002.

The estimated value of total retail sales in December 2015 was HK $43 billion 700 million, down 8.5% from 12 in 2014.

After deducting the price changes during the period, the total retail sales volume in December 2015 dropped by 6.1% compared with 12 in 2014.

Among them, the value of jewelry, watches and clocks and precious gifts sales fell the largest, down 17% compared with December 2014, down 15.6% compared with 2014.

Besides,

The value of sales of goods, medicines and cosmetics in department stores declined.

Since March 2015, the retail industry in Hongkong has maintained a downward trend. In 2015, the value of total sales continued to decline in 10 months, and the total retail sales value in August was 37 billion 900 million yuan, down 5.4% from the same period last year, the highest in the year.

The shrinkage of retail industry is more obvious in the rent of local businesses.

Russell street in Tongluowan once crowed the world with the average price of 21 thousand dollars per square meter per year in 2012, far exceeding the Fifth Avenue in the United States and Champs Elysees in Paris, New York.

Today, this street is not only a place to go.

The Russell Street "Pai Wang", the shop B1 to B3, from the 59 to 61 underground of Russell street, which has been charred for nearly 12 years, was completed in mid September 2015. The rent of the new tenant, Zhuo Yue, was nearly 40%.

Between 2003 and 2014, the rents of street shops in central, Tongluowan, Tsim Sha Tsui and Mong Kok generally rose by 213%. The number of cosmetics, leather goods and watch and jewelry industries in Hongkong increased by 1975%, 62% and 29% respectively.

Today, the Hongkong market has ushered in a large-scale rent reduction tide, has replaced the food shops, cinemas, mid-range brand shops are gradually closed.

Cai Yongxiong further indicated that from the recent data of tourism in Hongkong, the reduction of overnight passengers and the weakening of their consumption power are the main causes of the tourism downturn in Hong Kong.

Among them, the number of passengers and consumption from all major markets has declined. It is believed that some of the reasons are related to the global economic recovery, which will inevitably affect the demand of overseas tourism.

In addition, in the context of the expected increase in US interest rates, the Hong Kong dollar passively follows the US dollar appreciation. Under the current global economic performance, the appreciation of the Hong Kong dollar has greatly affected our external competitiveness.

Cai Yongxiong, senior economist at Bank of China (Hongkong) Limited, said that the number of visitors to Hong Kong in the past has increased significantly, which has deepened the local community.

Worries about the affordability of the tourism industry, such as the zero group fee forced purchase, the "milk restriction", the anti parallel movement, the sale of fake goods and the deception of passengers, will inevitably affect the enthusiasm of mainland tourists to visit Hongkong, and will also damage the reputation of the tourism industry in Hong Kong.

Yao Sirong, member of the Legislative Council of the Hongkong tourism industry, said that the tourism industry in Hongkong has gone downhill since the third quarter of 2014. Apart from the unfriendly attitude of the few local people in Hongkong, the neighboring countries such as Japan and Korea have relaxed their visa and have a high standard of service. At the beginning of the year, the government changed from "one sign to many lines" to "one Monday trip".