26 February 2020

Retailers welcome China ‘forced shopping’ trip ban, HKEJ says

Gold and jewelry retailer Chow Sang Sang Holdings International Ltd. (00116.HK) said China’s ban on “forced shopping” trips, a move stipulated under the nation’s new tourism ordinance, will benefit companies like itself as tourists will no longer be taken to specified spots for shopping, enabling them to patronize stores of their own choice, the Hong Kong Economic Journal reported Wednesday. Chow Sang Sang is expecting a 10 percent growth in sales from this year’s Oct 1 golden week shopping spree, the report said, adding that it also believes the decline in gold prices this year will spur sales. Meanwhile, cosmetics chain SA SA International Holdings Ltd. (00178.HK) expects double-digit growth in same-store sales over the holiday period this year, the report said.

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