China on Friday announced new policies allowing residents of Shenzhen City in south China's Guangdong, the economic powerhouse province, to make more frequent visits to neighboring Hong Kong.
According to a statement from the Exit and Entry Administration, starting Dec. 1, 2024, permanent residents of Shenzhen and holders of residence permits in the city will be eligible to apply for multi-entry permits to Hong Kong. These permits will allow unlimited visits to the city within a year, with each stay capped at seven days.
"Currently, the seven most convenient land ports for residents traveling between Shenzhen and Hong Kong have prepared to handle increased passenger flow following the implementation of new policies," said Yu Jingang, deputy director of the Land Port Division at the Office of Port of Entry and Exit, Shenzhen Municipal People's Government.
"It's great. We can leave at any time with just a bag in hand," said a Shenzhen resident.
Businesses near all land ports in Shenzhen have expressed their readiness to accommodate a larger influx of tourists, looking forward to the increased activity.
"For our businesses at the port, this is certainly a positive development. Increased traffic will boost business, and we plan to enhance convenience services for our customers," said Yu Zhenyu, head of the Planning Department at Liantang Port Commercial City.
China renews multi-entry permits for Shenzhen residents to visit Hong Kong
As Western consumers start their holiday shopping, Yiwu, a small commodity hub in east China's Zhejiang Province, sees a surge in exports, with local authorities speeding up export tax refunds to support businesses.
For example, 3D-printed toys sold at the Yiwu International Trade Market, also known as the "world's supermarket," have become especially popular in the United States.
"Normally, we order half a container of goods each month. But during this peak shopping period, we've already stocked up a full container. Now, I'm exploring new products," said Chen Junyu, a purchaser.
"These toys are in high demand right now. Our factory typically produces around 30,000 sets a day, with 70 percent exported to Europe and the U.S. The demand is so strong that some of our clients take products directly from the production line for immediate shipment," said Lyv Xulian, a 3D-printed toy supplier.
As the year-end shopping season begins in Western countries, cross-border e-commerce sellers targeting these markets are entering their busiest period.
For instance, a sporting goods company began its design, production, and stockpiling process two months in advance of the shopping season.
They adjusted stock levels in overseas warehouses based on market trends, increasing their inventory by 20 to 30 percent.
To help Yiwu businesses capitalize on the shopping season boom, local authorities have offered "exclusive tax services," providing round-the-clock support and streamlining the export tax refund process.
"During major sales events, we face financial pressures in logistics and warehousing. Fast export tax refunds ease our cash flow and effectively improve our capital turnover," said Wu Meng, head of the company's finance department.
China's small commodity hub sees exports surge as western holiday shopping season nears
