China’s Immigration Administration announced new policies for cross-border travel on November 29. These include the implementation of a “multiple-entry” visa for trips from Shenzhen to Hong Kong, a “weekly-entry” visa for travel from Zhuhai to Macau, and a “multiple-entry” visa for trips from special economic zone Hengqin (Zhuhai) to Macau. The policy quickly sparked market reactions, with local Hong Kong consumption stocks seeing significant gains that day. Sa Sa International rose 7.46%, Samsonite gained 3.94%, Bossini increased by 3.30%, and Chow Tai Fook saw a 2.67% rise. According to the Asia Tourism Exchange Center, the tourism market between Mainland China and Hong Kong/Macau is expected to grow by 9% to 12% YoY in 2024. The new policies are seen as a major signal to activate the tourism and consumption markets, with particularly positive effects expected for retail, hospitality, and luxury sectors in Hong Kong and Macau.