Ex-finance chief believes Hongkongers bound to seek affordable options after Huaqiangbei trip

Former Financial Secretary John Tsang Chun-wah recently shared his visit to the electronic markets in Huaqiangbei, Shenzhen and encouraged local businesses to reevaluate their strategies and focus on sustainable, long-term development.

In the Facebook post published on Sunday, Tsang noted the border was bustling with crowds of all ages on the day he traveled to Shenzhen with friends and family.

He pointed out that food prices were only about one-third of those in Hong Kong, yet the quality remained excellent. The former finance chief then ventured into the electronics market at Huaqiangbei, where he discovered a wide range of appliances available at impressively low prices.

Tsang noted that he returned to Hong Kong with a new Bluetooth speaker, an electric nail clipper and a Blu-ray player.

He concluded that the trend of consumers shifting to areas with lower pricing was inevitable, expressing hope for Hong Kong businesses to review their positioning as it is essential for long-term development.