The Hong Kong and Macao SAR governments thank the central government for once again introducing measures to benefit Hong Kong and Macao
Hong Kong, June 28 (Xinhua) -- The Ministry of Finance, the General Administration of Customs and the State Administration of Taxation jointly announced on June 28 that the duty-free limit for luggage brought by inbound residents from Hong Kong and Macao will be increased from 5,000 yuan to 12,000 yuan. The governments of the Hong Kong and Macao SARs warmly welcomed the policy and sincerely thanked the central government for once again introducing measures to benefit Hong Kong and Macao.
The announcement also made it clear that at ports with entry duty-free shops, the above-mentioned passengers are allowed to purchase a certain amount of duty-free goods at the port's entry duty-free shops, and those passengers, together with personal luggage items for their own use acquired abroad with a total value of less than 15,000 yuan, will be released duty-free.
Hong Kong Chief Executive John Lee expressed his sincere gratitude to the central government for launching a number of measures to boost Hong Kong's economy. The new measures can enhance the shopping experience of residents and tourists in Hong Kong, allowing them to enjoy greater freedom when shopping, which will help attract more tourists to Hong Kong and promote diversified tourism development. On the other hand, the measures can also promote Hong Kong's retail market and inject momentum into the local economy.
On behalf of the Macao SAR Government, Chief Executive Ho Iat Seng expressed his heartfelt thanks to the central government for once again introducing measures to benefit Macao. He said that the measures to increase the duty-free quota will help promote the growth of tourism consumption in Macao and boost the community economy, benefit small and medium-sized enterprises including the retail industry, and help the overall economy of the Macao SAR to move forward steadily. The SAR Government will continue to work together with all sectors of society to jointly implement a series of central government measures to benefit Macao.
A spokesman for the Hong Kong Special Administrative Region Government said that under the new arrangement, it is estimated that the new arrangement will bring an additional shopping consumption of approximately HK$8.8 billion to HK$17.6 billion to Hong Kong dollars each year, and an economic added value of approximately HK$2.7 billion to HK$5.4 billion.
The announcement clearly stated that from July 1, 2024, the relevant measures will first be implemented at six ports, including Luohu, Futian, Shenzhen Bay, West Kowloon Station of the Guangzhou-Shenzhen-Hong Kong High-Speed Railway, Gongbei, and Zhuhai Highway of the Hong Kong-Zhuhai-Macao Bridge; from August 1, 2024, they will be extended to all entry ports except the Hengqin "first-line" port.
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