Hong Kong's border with mainland China. Photo: SCMP

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Hong Kong and mainland China border reopeningi

Latest news and updates on the reopening of the border between Hong Kong and mainland China amid the coronavirus pandemic.

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  • Sales of insurance policies to mainland Chinese visitors hit HK$46.8 billion (US$6 billion) in the nine months to September, compared with HK$1 billion a year ago
  • Manulife and Prudential are upbeat on policy sales in the fourth quarter amid rising demand from mainland Chinese visitors
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Tourism chief Kevin Yeung says 38,981 tour groups from mainland visited between January 1 and November 15 this year, with city recording growth every month.

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Hong Kong’s tourist hotspot of Tsim Sha Tsui retained its ranking as the most expensive retail destination in Asia-Pacific, but slipped to third place globally, according to a survey by Cushman & Wakefield.

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Hongkongers heading north say crossing is more convenient after mainland authorities scrap mandatory health declaration introduced during Covid-19 pandemic.

Tourism minister Kevin Yeung says change unlikely to affect flows over border, but catering, retail leaders say more needs to done to ensure residents spend at home.

Hong Kong’s lived-in home prices fell by nearly 1.75 per cent in September to their lowest since April 2017, as elevated interest rates have dampened sentiment and kept buyers on the sidelines.

11 Skies, touted as Hong Kong’s largest indoor entertainment hub, is adding Vquarium, the city’s first-ever ‘virtual deep-ocean adventure experience’, to its list of attractions, as landlords beef up entertainment offerings in shopping malls.

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Tickets to Disneyland, afternoon tea at The Peninsula and fine dining with wine pairings – these are just some of the incentives with which major banks such as HSBC and Standard Chartered plan to woo high-flying mainland Chinese customers during the ‘golden week’ holiday.

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Japanese furniture retailer Nitori Holdings, which opened its first outlet in Hong Kong on Wednesday, plans to gradually expand its footprint to 20 across the city in the coming years, according to a top executive.

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Prudential Hong Kong will continue to invest in AI and technology to boost its insurance business, while it expects mainlanders will continue to come to Hong Kong to buy the policies in the second half, according to its top boss.

Readers discuss the central government’s plan for Hong Kong, the Hong Kong tourist experience on the mainland, and what life is like for non-tourists in Macau.

Manulife will open its second prestige customer centre in Hong Kong and invest more on digital tools to support growing business from returning mainland Chinese customers, its newly appointed Asia CEO says.

Readers discuss the transition to green transport, whether street art has a place in the city, and the importance of sunset clauses in pandemic legislation.

AIA Group’s new sales value grew 37 per cent in the first half, helped by new policy sales in Hong Kong to mainland Chinese customers seeking better investment returns and a hedge against currency weakness.

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Mainland Chinese are rushing to open bank accounts in Hong Kong, buy insurance policies and investment products or swap their cash for local or US currency as the yuan slumps to the weakest since October.

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First batch of imported workers for transport industry expected to arrive in city by end of year, and for many, higher pay and new way of life is convincing them to put down new roots.

Some landmark spots in Taiwan are relatively quiet compared with when sites were packed with mainland Chinese tourists before the pandemic, forcing those who depend on tourism to adapt to new trends.

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