Beginning July 1st, Chinese visitors will be allowed up to RMB15,000 ($2,064) in duty-free shopping in Hong Kong and Macau, nearly doubling the current limit. This move aims to support the cities’ recovery from the impact of the pandemic.
The duty-free limit will be increased to RMB12,000 ($1,652) from the current RMB5,000 ($688), while the existing tax waiver on RMB3,000 ($413) worth of shopping at duty-free stores at the borders will remain in place, according to statements released on Friday by Hong Kong, Macau, and China’s Ministry of Finance.
The Macao Government Tourism Office (MGTO) notes that this initiative by the central government will further enhance mainland tourists’ desire to shop in Macau, attract visitors to explore and spend within the community, increase foot traffic, and stimulate the local economy.
Meanwhile, this new measure is anticipated to generate up to HK$17.6 billion ($2.25 billion) in annual spending in Hong Kong, contributing up to HK$5.4 billion to its economy, according to a statement from the Hong Kong government.
The change will take effect on July 1st, coinciding with the 27th anniversary of Hong Kong’s handover from the UK to Beijing.
