Hong Kong Residents Flock to Shenzhen for Cheaper Luxuries and Entertainment
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Hong Kong residents like Andy Tsui are spending weekends in Shenzhen, China for cheaper shopping, dining, and entertainment. A weekend trip costs around $60 compared to a single meal in Hong Kong.
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Historically, mainland Chinese would escape to Hong Kong for greater freedoms and luxuries. Now the reverse is happening due to Shenzhen's booming economy and Hong Kong's rising costs.
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Shenzhen has surpassed Hong Kong economically. It offers modern malls, cuisines, and members-only retail chains that appeal to Hongkongers seeking better value.
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Beijing is integrating Hong Kong into the Greater Bay Area to make Shenzhen the central economic hub rivaling global cities. This threatens Hong Kong's autonomy.
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Many Hong Kong residents are emigrating, with over 100,000 moving to Western countries like Britain. Shenzhen's rise indicates Hong Kong's fading influence.