A SHOPPING mall in Guangzhou will begin selling duty-free Hong Kong goods in January 2004.

The Juntai Shopping Mall, located at the intersection of Zhongshan Road 5 and Beijing Road, has assigned its 2nd and 3rd floors as "CEPA Hong Kong City," the New Express reported.

The Hong Kong City will feature booths run by Hong Kong businessmen and sell Hong Kong goods exclusively.

More than 100 booths have already been allocated for Hong Kong sales and more than a half have already been booked. For booths still under lease, the leaseholders are willing to give them up for up to 50,000 yuan (US$8,000). The booths were leased for several thousand yuan. However, Wu Fan, general manager of Juntai, said the rent for Hong Kong City would not exceed 3,000 yuan per square meter.

"The rent for Hong Kong City would not be higher than for other shops on Beijing Road,"said Wu.

Wu encouraged Hong Kong businessmen to bring high-end products to Hong Kong City, such as top-grade cosmetics, jewelry, furniture and clothes. "The demand for these luxuries is very high here," Wu said.

According to the Closer Economic Partnership Agreement (CEPA), tariffs will be waived on 273 Hong Kong goods after January 2004.

Other shopping malls are also planning to sell duty-free Hong Kong goods, such as the Guangming Plaza, Mingsheng Plaza, and Herun Plaza. Representatives of the shopping malls will go to Hong Kong to attend a CEPA opportunities expo Dec. 2-3.
 

Editor:Wings