Hong Kong Stock Concept Tracking | 8 cities including Taiyuan and Harbin can issue "individual tourist endorsements" for travel to and from Hong Kong and Macau, local consumption in Hong Kong and Macau attracts attention (with concept stocks)

The reporter learned from the National Immigration Administration that, with the approval of the State Council, the Exit and Entry Administration of the People's Republic of China has decided that starting from May 27, 2024, residents of 8 cities including Taiyuan City in Shanxi Province, Hohhot City in Inner Mongolia Autonomous Region, Harbin City in Heilongjiang Province, Lhasa City in Tibet Autonomous Region, Lanzhou City in Gansu Province, Xining City in Qinghai Province, Yinchuan City in Ningxia Hui Autonomous Region, and Urumqi City in Xinjiang Uygur Autonomous Region are eligible to apply for "individual tourist endorsements" for travel to Hong Kong and Macau.

Hong Kong Financial Secretary Paul Chan stated in his blog that the central government will further expand the individual travel plan to include Taiyuan, Hohhot, Harbin, Lhasa, Lanzhou, Xining, Yinchuan, and Urumqi, bringing more overnight visitors to Hong Kong. This will help boost the local food, retail, hotel industries, stimulate the overall economy, strengthen cultural and people-to-people exchanges between the mainland and Hong Kong.

Chan expressed his hope for more stimulation of local consumption and attraction of visitors to spend in Hong Kong in the retail sector. In terms of business and finance, efforts are being made to explore new products and funding channels to attract more talent to develop in Hong Kong. He mentioned that as of the end of last month, about 290,000 applications have been received for various talent programs, of which approximately 180,000 have been approved and about 120,000 people have arrived in Hong Kong. Among those approved under the "Talent List" program, the median age is 35, 60% are married individuals, and they generally bring their families to Hong Kong. More than half of the talents who have been in Hong Kong for six months or more have been employed, with a median monthly income of about HKD 50,000.

Local Consumption in Hong Kong and Macau Tourism Sector:

Local Consumption in Hong Kong: Chow Tai Fook (01929), Wharf Real Estate Investment (01997), Huazhu Group-S (01179), Sa Sa International (00178), CEC International (00759), AEON (00984), etc.;

Macau Tourism Sector: MGM China Holdings (02282), Sands China (01928), Galaxy Entertainment Group (00027), Melco International Development (0200), Wynn Macau (01128), SJM Holdings (00880), etc