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November 26, 2010

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Want to save money? Head for Hong Kong

WHAT a reversal of fortunes! The price of many food items and other household goods are now higher in Shanghai than in Hong Kong, according to a research report issued earlier this month by Fudan University and a local newspaper.

Their research surveyed prices in Carrefour supermarkets in Shanghai and Park 'n Shop supermarkets in Hong Kong, two comparable retailers. The basket of goods contained common everyday items.

According to the report, a one-liter bottle of Rejoice brand shampoo cost 75 yuan (US$10.96) in Shanghai and only the equivalent of 51.4 yuan in Hong Kong.

Other shampoos, body washes and hair-care products at Carrefour were between 25 percent and 30 percent more expensive than at Park 'n Shop.

Food products were cheaper, too.

Eggs and apples, for example, were less costly in Hong Kong than in Shanghai.

Newspapers in southern China report that many residents of Shenzhen, just across the border from Hong Kong, are traveling to Hong Kong to shop.

That's a change from the time-honored tradition of Hong Kong residents flocking across the border to buy cheaper goods on Chinese mainland.


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