HONG KONG -- Retailers in Hong Kong are feeling the pinch as mainland tourists spend less while more locals head to Shenzhen and other parts of southern China to shop and dine, earnings announcements show.
Retail
Hong Kong retail hit by Shenzhen rivalry, weak mainlander spending
Wharf REIC slips to net loss while major chains report double-digit sales declines
Hong Kong's premier shopping mall Harbour City. "The strength of the Hong Kong dollar," which is pegged to the strong U.S. dollar, has dealt a further blow to the city's retailers, a government spokesman says. (Photo by Shinya Sawai)
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