Enjoy convenience, promote communication, and inject momentum - First day observation on the increase of import tax exemption for Hong Kong and Macao
2024-07-03
During the July 1st public holiday in Hong Kong, the market and shops were bustling with visitors. In the popular shopping area of Causeway Bay, Mr. Shen and his family from Chongqing are selecting men's watches: "After increasing the tax exemption limit, it is obvious that there is more choice." According to a joint announcement by the Ministry of Finance, the General Administration of Customs, and the State Administration of Taxation, starting from July 1, 2024, the tax exemption limit for luggage carried by residents and passengers aged 18 and above entering Hong Kong and Macau will be increased from 5000 yuan to 12000 yuan. At the same time, the policy of purchasing an additional 3000 yuan of duty-free goods at duty-free shops at the port will be retained, with a total limit of 15000 yuan. The new policy will be implemented in six ports, including Luohu, Futian, Shenzhen Bay, West Kowloon Station of Guangzhou Shenzhen Hong Kong High Speed Rail, Gongbei, and Zhuhai Zhuhai Macao Bridge Zhuhai Highway. On the 1st, the reporter arrived at Luohu Port, the oldest "first port" connecting Hong Kong and mainland China, and the exit hall welcomed a peak in passenger flow. The latest data released on July 2nd shows that on July 1st, the Luohu Border Inspection Station inspected a total of 224000 inbound and outbound passengers, including 69000 inbound and 155000 outbound. In addition, 130000 outbound personnel were inspected at Futian Port, setting a new record for passenger flow, and the wave of "going north and going south" entry and exit continued. As a frequent customer at the Luohu Port, Ms. Jiang, a resident of Shenzhen, told reporters that the previous tax exemption limit of 5000 yuan could no longer meet the consumption needs of most people. After the increase in the limit, people do not need to be too frugal when shopping, and Hong Kong and Macao travel is more attractive. Since the beginning of this year, the Shenzhen China Channel has been opened, and high-speed rail sleeper trains have been running between Beijing, Hong Kong, and Shanghai. The number of "individual travel" cities from mainland China to Hong Kong and Macao has increased to 59, and the "national connectivity" for group tourism by mainland residents to Hong Kong and Macao has been fully restored. With a series of policies being implemented, the interconnection between mainland China and Hong Kong and Macao continues to accelerate. More and more mainland tourists are choosing Hong Kong and Macau as their outbound destinations, and Hong Kong and Macau residents are also happy to travel, visit relatives, and consume in mainland China. A large number of international friends enter from Hong Kong and Macau and then come to Shenzhen, Guangzhou, Shanghai, Beijing, and other places through the Luohu and Hengqin ports, enjoying more diverse gaming experiences. Nowadays, this trend of "going in multiple directions" combined with the increase of tax exemption quotas will promote various exchanges and increase the activity of people, logistics, and capital flows. Most of the tour groups we receive are mainland parents bringing their children to Disney for fun. After enjoying a higher tax exemption, many families take the sleeper train to Hong Kong and hope to increase their stay time by purchasing more items to bring back On the 1st, Mr. Fang, a Hong Kong tour guide, led a team of "parent-child groups" through a sea of people. Despite the scorching heat, the enthusiasm of tourists remained undiminished. With the arrival of summer, outbound tourism is about to reach its peak. The Hong Kong SAR government estimates that under the new arrangement, it will bring an additional shopping consumption of approximately HKD 8.8 billion to HKD 17.6 billion annually to Hong Kong, with an economic value added of approximately HKD 2.7 billion to HKD 5.4 billion. "The policy of increasing the import tax exemption quota by the country is a positive attempt, with a very clear goal of encouraging mainland residents to consume and shop in Hong Kong and Macao, and promoting the integrated development of the Guangdong Hong Kong Macao Greater Bay Area." Song Changyao, Director of the Tourism Management Department at Beijing Second Foreign Languages University, said. Thanks to the continuous release of policy dividends, industry insiders predict that tourism to Hong Kong and Macao will further recover in the short term. Chen Ruidong, Managing Director of Hong Kong China Travel Service Limited, stated that in order to attract more people to Hong Kong and Macau, we cannot simply rely on price reductions and promotions. All sectors still need to explore distinctive consumer highlights at all levels, build tourism brand projects, improve relevant supporting facilities, comprehensively enhance service quality, and form comprehensive competitiveness. (Lai Xin She)
Edit：Li Ling Responsible editor：Chen Jie
Source：Xinhuanet
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