Stalls Left Unwanted At Lunar New Year Fair Auction

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2019-11-12 HKT 17:04

Share this story

facebook

  • Stalls left unwanted at Lunar New Year fair auction

Bidding was sluggish on Tuesday at the auction for booths for next year's Lunar New Year fair in Victoria Park, with almost half of the flower stalls up for grabs taken back due to a lack of interest.

Only 70 people showed up at the auction venue during the morning session, when three fast food booths and 60 flower stalls at Victoria Park were available.

The biggest fast food booth went for around HK$200,000 – 60 percent less than last year's price.

The two other food stalls, meanwhile, were sold at, or very near, their reserve prices.

The response for the flower booths was also lacklustre, with almost half of them attracting no bidders at all.

The auction follows the government's announcement that vendors will only be able to sell flowers and food at next year's flower markets, instead of the novelties usually offered by political parties and community groups.

Officials say the decision was made to ensure public safety and facilitate crowd control by enlarging stall sizes and the width of the passageways.

The Alliance in Support of Patriotic Democratic Movements in China, which has been selling political items at the fair for 30 years, won bids for two flower booths.

It said it will sell flowers with political messages to satisfy the government's new requirements.

RECENT NEWS

China To Inject US$44 Billion Into State Banks To Boost Tech And Curb Risks

China said it will inject 300 billion yuan (US$44 billion) into state-owned banks this year to guard against systemic r... Read more

Hong Kong Regulators Expand GenAI Sandbox To Insurance, Securities And MPF Sectors

The Hong Kong Monetary Authority (HKMA), Securities and Futures Commission (SFC), Insurance Authority (IA), and Mandato... Read more

South Korea To Cap Crypto Exchange Ownership At 20%

South Korean regulators and lawmakers have agreed to cap major shareholder stakes in cryptocurrency exchanges at 20%, d... Read more

DBS Hong Kong Partners With Know Your Customer To Automate SME Onboarding

Know Your Customer Limited, a provider of automated business verification solutions, has partnered with DBS Hong Kong t... Read more

Hong Kong Banks Extend Loan Repayment Relief For Tai Po Fire Victims

The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) have met to discuss additional su... Read more

Hong Kong And Macao Deepen Financial Cooperation With Updated Agreement

The Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Macao (AMCM) held a meeting on March 3 to strengt... Read more