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Hong Kong jewelers rush to mainland China for survival

Plunging tourist traffic during pandemic fuels shift to thriving market

HONG KONG -- After suffering back-to-back blows from protests and the coronavirus pandemic, Hong Kong jewelers have drastically expanded their presence on mainland China to offset plummeting demand from tourists at home.

Chow Tai Fook Jewellery Group has opened 310 outlets on the mainland during the six months through September. Because the mainland brought the spread of coronavirus under control relatively quickly, same-store sales in the market have improved to the plus side in the July-September quarter compared with a year earlier.

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