E-News subscription
Product Enquiry
0
Customs - Luxury investors spooked by reports of China border crackdown
08 October 2018

 

The share price of a number of European luxury groups fell sharply on October 4 after online reports of more stringent border checks on Chinese travellers bringing items into the country.

Those to suffer included LVMH, Kering, Hermès and Burberry.

Investors were alarmed after videos on social media that appeared to show border guards looking for travellers attempting to import over the duty-free allowance of 5,000 yuan (just over $7000).  This reportedly took place at Shanghai Pudong Airport. 

There has been no confirmation of an official change in policy with regards to this matter.

Information courtesy of Leatherbiz 

Tags:
COMMENT SECTION
COMMENTS
0 comments