Hong Kong shopping malls ring up record Christmas sales

Jan 5, 2012, 3:06 GMT

Hong Kong - Hong Kong malls rang up record sales over Christmas as wealthy shoppers from mainland China flocked over the border, a news report said Thursday.

The apm mall in Kowloon saw a 40-per-cent year-on-year surge in December with takings totaling 320 million Hong Kong dollars (41.2 million US dollars), the South China Morning Post reported.

The upmarket Times Square mall on Hong Kong island has meanwhile seen Christmas sales up 20 per cent compared to 2010, the newspaper said, with 30 per cent of customers from mainland China.

Maureen Fung, spokeswoman for apm mall owner Sun Hung Kai Properties, told the newspaper 2011 had been 'the best Christmas' with 1.36 million shoppers from December 24 to 27.

The recession-busting sales come as a strong Chinese yuan and high inflation in mainland China brings record numbers of people over the border to shop in Hong Kong.

Retailers expect even greater numbers to flock to Hong Kong in January for the Lunar New Year. The Chinese Year of the Dragon begins on January 23 and is marked by a two-week national holiday.