South China Morning Post
International · 4 hrs ago
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Hong Kong retail sales jump 12.8% in March on back of higher car sales
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Hong Kong's retail sales increased 12.8% in March, driven primarily by a surge in electric car purchases ahead of the expiration of tax incentives, according to government statistics.
Hong Kong retail sales jump 12.8% in March on back of higher car sales
Hong Kong’s retail sales jumped by 12.8 per cent in March, bringing first-quarter growth to 9.8 per cent, driven by a spurt in sales of electric cars ahead of the withdrawal of tax breaks.
Provisional figures released by the Census and Statistics Department on Wednesday showed that retail sales reached HK$33.9 billion (US$4.32 billion) in March.
The March increase was largely fuelled by car sales as buyers raced to make deals before the first registration tax concessions for electric cars ended.
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