Parallel Trading Hurts Livelihoods, Protestors Say
"); jQuery("#212 h3").html("

"); });
2019-01-27 HKT 16:16
Protestors took to the streets of Sheung Shui on Sunday afternoon to decry a growing influx of so-called parallel traders in the border town.
They accused the government of failing to do enough to curb the influx of traders, who buy goods in Hong Kong to resell on the mainland, leveraging the SAR's lower taxes, and the perceived higher quality of some goods here.
"The parallel trading activities seriously affect the livelihood of people in North District, especially when traders block the road," said Democratic Party lawmaker Lam Cheuk-ting.
He said traders also blocked the area with heavy luggage, and said stores devoted to goods popular with traders had pushed up rents, forcing out stores that local people relied on.
The protesters want the government to restrict people who live and work in Shenzhen from visiting more than eight times a year.
A limit of one visit a week for Shenzhen residents and workers was implemented earlier, after a previous round of protests against parallel trading.
However a group of about 15 people staged a counter-protest. Led by pro-Beijing activist Chan Ching-sum, they accused the anti-parallel-trading group of attempting to stir up cross border tensions.
Jean-Louis Tse Appointed CEO Of FinTech Association Of Hong Kong
The FinTech Association of Hong Kong (FTAHK) has appointed Jean-Louis Tse as its new CEO. Jean-Louis brings over 20 yea... Read more
XTransfer To Present Compliance And SME Solutions At Hong Kong Fintech Week
XTransfer will participate in Hong Kong Fintech Week 2025 as the event’s Official Fintech Partner. This marks the sec... Read more
Hang Seng E-HKD Pilots Reveal Gains In SME Cash Flow And Efficiency
Hang Seng Bank has completed two use cases in Phase 2 of the e-HKD Pilot Programme under the Hong Kong Monetary Authori... Read more
FundPark Raises US$71M After Surpassing US$6B In ECommerce Financing
FundPark, a Hong Kong-based technology company providing financing solutions for eCommerce businesses, has raised US$71... Read more
Hang Seng Bank Launches “JustPay” With Voice Recording Payment Feature
Hang Seng Bank has introduced “JustPay”, an industry-first payment experience featuring a voice recording function.... Read more
How To Build An AI First Bank | Malaysia Banking CxO Roundtable
AI is changing banking faster than ever, from how banks detect fraud to how customers interact with apps. In this round... Read more