FT大视野

How China’s slowdown is deepening Hong Kong’s ‘existential crisis’

The territory’s growing reliance on China has turned into a distinctly mixed blessing — with questions of how long hallmarks of its own system can endure

Rosanne Wong should be enjoying a year of recovery at her four cigar shops in Hong Kong, after three years of Covid restrictions were finally lifted at the start of the year and traditionally high spending mainland Chinese tourists returned. 

Hand-rolled Cuban cigars have been in high demand — prices for some of the most-sought after types have more than doubled over the past three years.

Instead, in what should have been peak season during October, coinciding with China’s Golden Week national holiday, sales were down roughly 30 per cent compared to the beginning of the year.

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