| In the past
20 years, although people live in Shanghai - one of the booming cities
in China - are having more and more spending power, the exsiting market
with inadequate choice of products does not satisfied their desire
on purchasing. Therefore, Hong Kong, with its ideal geographical location
has became the destination for Shanghaian. They are keen on joining
so-called "Pure-Shopping Tours" to Hong Kong aiming for
HK brands which are considered highly competitive, particularly those
have the ability to skim for the premium market segment. Guaranteed
quality, products variety, availability of brands and credibility
are the major elements for spending money and time to visit. The adventurous
Shanghai natives are always receptive to new thing and keen on catching
up with the world fashion trend. As a result, for those smart Shanghaian,
Hong Kong has became the sensible option beyond the choices of those
European countries.
Undoubtly,
the conclusion of the Closer Economic Partnership Arrangement (CEPA)
between the mainland and Hong Kong offers new opportunities to shorten
the distance between Hong Kong and Shanghai. According to the arrangement,
quite a number of Hong Kong-made items, subject to the CEPA's rules
of origin, will enjoy duty-free access to the Chinese mainland from
January 1, 2004 onwards. Also, under the CEPA, eligible Hong Kong
companies will be allowed with additional market access plus removal
of specific restrictions in the mainland market. People in the mainland
would be greatly benefited from the arrangement. For example, the
Hong Kong Week held in Shanghai earlier this year has became the
"talk of the town" in Shanghai. Obviously, the event has
been highly appreciated by those who never, but would like to visit
Hong Kong in one day. People in Shanghai can now shop the same products
as those on the shelves in Hong Kong without flying over there,
and of cause paying less on time for booking air-tickets and accommodation.
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