19 November 2018

Austerity drive bites into high-end gift, food sales, paper says

The central government’s austerity drive has led to significantly reduced sales of luxury gifts and high-end food items, the Southern Metropolis Daily reported Sunday. Shop owners have reported a huge decrease in sales in 2013 and are cutting prices to attract buyers. Wholesale shark’s fin prices in Guangzhou have dropped by 60 percent, while other premium dried seafood items have also seen prices slump by up to 80 percent, the report said.

– Contact HKEJ at [email protected]




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