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.
Future Fintechs Hong Kong Subsidiary Seeks VASP And Asset Management Licenses
Future Fintech, a financial and digital technology services provider, announced that its wholly owned Hong Kong subsidi... Read more
Can Regulation Scale With Innovation? Inside The Stablecoin Plans Of HK And The U.S.
Back in 2022, stablecoins were still an emerging topic. Yet, they stirred enough flurry for the Hong Kong Monetary Auth... Read more
Cyberport Start-ups Forge Regional Fintech Ties At MyFintech Week 2025 In Malaysia
Cyberport led a delegation of its fintech start-ups to MyFintech Week 2025 (MyFW 2025), held in Kuala Lumpur from 4 to ... Read more
Hong Kongs Stablecoin Law Triggers Industry Concerns Over KYC Rules
Hong Kong’s newly implemented stablecoin law, in effect since 1 August, has sparked concern among some in the industr... Read more
Stopping Fraud At The Gate: The New Imperative For Registration & Transaction Monitoring
The Asia-Pacific fintech landscape is thriving, fueled by the rapid adoption of digital payments, online banking and al... Read more
Hong Kong Private Banks See 14% Growth, Hire 400 More Wealth Managers
Hong Kong’s private banking and wealth management sectors are poised for further growth in hiring and office expansio... Read more