Unrealistic to stop Hongkongers from shopping in mainland China, John Lee says

City leader says government will expand size of local events and set up photo hotspots, but calls on businesses to seize opportunities

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City leader John Lee has pointed to the “panda economy” as an example of opportunities handed to retailers by the government. Photo: Sam Tsang

Published: 4:43pm, 17 Oct 2024Updated: 7:59pm, 17 Oct 2024

Trying to prevent Hongkongers from spending their cash in mainland China is unrealistic and inappropriate, Chief Executive John Lee Ka-chiu has said, arguing the city is in the midst of upgrading its economy and urging retailers to reinvent themselves.

Speaking a day after his annual policy address, the city’s leader said on Thursday the trend of shoppers heading north was a structural change rather than a temporary one.

“Do not revel in the methods of the past. It’s a structural change and some have come to realise it and have strategised on promoting the uniqueness of their businesses,” he told a radio programme.

Lee said that while authorities would roll out measures to boost local consumption, businesses needed to stay competitive as mainland cities such as Shenzhen had become increasingly popular retail destinations.

“Preventing Hongkongers from leaving the city is not realistic nor appropriate,” he said.

The chief executive said the government would expand the size of local events and set up photo hotspots across the city’s 18 districts, but called on businesses to seize such opportunities and innovate.