Parallel trading ‘unlikely’ under return of Shenzhen multi-entry visas: Hong Kong minister
Central authorities earlier announced multiple-entry visa scheme for Shenzhen residents would return on Sunday after policy was axed in 2015
Hong Kong’s tourism minister has brushed aside concerns that offering more than 10 million Shenzhen multiple-entry visas might trigger a resurgence in parallel trading, speaking a day before the new policy took effect.
Secretary for Culture, Sports and Tourism Kevin Yeung Yun-hung said on Saturday that the visa scheme would benefit Hong Kong’s tourism industry.
The revived policy means Shenzhen residents can make unlimited trips to Hong Kong over a year but can only stay for up to seven days each time. The original scheme was rolled out in 2009 but was replaced by a “one-trip-per-week” arrangement in 2015.
Asked whether he was worried the scheme’s return could create a rise in parallel trading, Yeung said the city government had made “sufficient preparations” ahead of the policy’s launch.
“I believe the chances of seeing parallel trading are lower than before. But we have to continue to observe whether there will be some cases,” he told a radio programme.
“Different departments have conducted assessments on the impact of an increase in tourists and will introduce various relevant measures.”
