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Chinanews, Guangzhou, Dec. 6 – As the US dollar exchange rate to Renminbi declines, Renminbi's value against Hong Kong dollar, which is pegged1 to the dollar, also rises. Renminbi's rising value has started to bring a positive effect on the Hong Kong tourism industry since many mainlanders are now considering a tour to Hong Kong. In Shenzhen and Dongguan, two cities in south China's Guangdong Province, the number of people registering for Hong Kong tour has increased a little bit recently.
Based on the recent exchange rate, a cosmetics2 product sold at 630 yuan in Hong Kong last year is now worth around 600 yuan. Last year, mainlanders might pay 10,657 yuan for every 10,000 Hong Kong dollars and now, it will save them 600-some yuan to exchange for the same amount. Because of this lower price of Hong Kong dollar, many people in the mainland want to travel to Hong Kong at this time. Some travel agencies in Shenzhen also include shopping activities in their tour package. More and more people make calls to the travel agencies for information and the number of people registering for Hong Kong tours increase has by 20% over last year. Some travel agencies have started to offer a higher price for inbound tours and they might not lower the price of outbound tours until the exchange rate remain relatively3 stable, said these travel agencies.
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