HONG KONG -- Retail sales in Hong Kong fell for the 12th straight month in February, underscoring the plight of merchants and hotels as local residents flock across the border to Shenzhen while mainland travelers rein in spending in the city.
The city's census and statistics department tallied 29.4 billion Hong Kong dollars ($3.77 billion) of retail sales in February, down 13% on the year and much steeper than January's 3.1% drop. It was the first figure in double digits since last August.
.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
