Hong Kong Businesses Turn to Mandarin, Xiaohongshu for Survival

Increasing reliance on Chinese money changing marketing tools
Chinese make up bulk of immigrants and tourists in the city

Pedestrians with luggages on Russell Street in the Causeway Bay area.Photographer: Chan Long Hei/Bloomberg

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By Shirley Zhao and Krystal Chia

August 1, 2024 at 12:00 AM UTC

This article is for subscribers only.

Hong Kong real estate broker Habitat Property used to count on the city’s Western professionals for the bulk of its business. Things are different nowadays.

Mainland Chinese clients now make up 40% of transactions, compared with 10% before Covid, said founder Victoria Allan. Another 40% are from Hong Kong, while clients from the West are down to just 20%.