HKRMA trims local retail sales growth estimates from 0-1% to -1-0%

Yu Pang-chun, Chairman of Hong Kong Retail Management Association, said that the recovery of the local retail market of will be affected as the terrorist attack against the US has shaken the confidence of Hong Kong citizens on the economy. The association has trimmed its estimation for the turnover growth of local retail industry this year from 0-1% to -1-0%. The association has talked with the Hong Kong Housing Authority and certain developers for lowering rentals, but some property owners disappointed the association by requesting

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