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Concerns raised over retail drop: FS

June 03, 2014

Financial Secretary John Tsang says the Government is concerned about the year-on-year decrease in retail sales value and volume in April because the economy and the employment situation may be affected if it becomes a trend.


Speaking to reporters today, Mr Tsang said the retail sales value and volume fell 9.8% and 9.5% year-on-year in April, the largest decrease since February 2009.


He said the drop was mainly attributable to sales decreases in jewellery and watches, which may reflect a change in Mainland visitors’ spending habits, but the Government has not yet analysed whether they are directly related.


He also said that when considering policy towards Mainland visitors, the Government must consider factors like their contribution to Hong Kong’s economy, and the overall economic and employment situation.