Parallel Trading Menace Back Again: Lam Cheuk-ting
"); jQuery("#212 h3").html("

"); });
2019-01-25 HKT 17:02
Parallel traders are once again making residents' lives a misery in Sheung Shui, Democratic Party lawmaker Lam Cheuk-ting said on Friday, as he announced a protest this weekend over the issue.
Lam said the town is being inundated with mainland shoppers who buy goods in bulk to sell over the border, and the problem has been getting worse in the run-up to the Chinese New Year holiday.
He called on the government to only allow mainlanders to enter Hong Kong a maximum of eight times a year as a way to limit parallel trading activities, which he said "severely affect the livelihoods" of people in Northern District.
The councillor, who represents the New Territories East constituency, said he was arranging a protest this Sunday which will be conducted "in a civilised and peaceful manner".
He said participants should not use violence against anyone.
Demonstrations against parallel traders in 2016 were rowdy at times, with some protesters even kicking people they suspected were buying up goods such as milk powder, vitamins and medicines, to resell over the border.
The councillor said the police have issued a letter of no objection for his protest and he hoped they would deploy sufficient manpower to maintain order.
He noted that another protest against parallel traders was planned for the area on the same day, but he believed it would not overlap with his.
OCBC Plans Hong Kong Wealth Expansion With Up To 50 New Bankers
OCBC is expending its wealth management team in Hong Kong by 30% this year to meet growing regional demand for investme... Read more
Hana Financial To Acquire US$669M Stake In Dunamu, Deepening Crypto Push
Hana Financial Group has agreed to acquire a 6.55% stake in digital asset operator Dunamu. The transaction is valued at... Read more
Reap And TerraPay Partner To Expand Cross-Border Payouts Via Local Payment Rails
Reap has partnered with TerraPay to expand its cross-border payout network using domestic clearing systems. The integra... Read more
Tencent Fintech And Cloud Services Lift Q1 2026 Revenue 9% To US$8.68 Billion
Tencent reported a 9% increase in revenue from its fintech and business services division for the first quarter of 2026... Read more
Ant Group Profit Falls An Estimated 79% As AI And Payments Spending Rises
Ant Group saw an estimated 79% decline in quarterly profit as the company accelerates its spending on AI, large languag... Read more
Alibabas Cloud Revenue Jumps 40% As AI Investments Pressure Profitability
Alibaba Group has released its financial results for the quarter and fiscal year ending 31 March 2026, reporting a 3% a... Read more
