港人北上消费潮，回不到过去了

Core Viewpoint - The trend of Hong Kong residents consuming in mainland China does not negatively impact their local consumption, as evidenced by a systematic study conducted by Hong Kong Chinese University [3][6]. Group 1: Consumption Trends - Hong Kong residents' travel to mainland China has returned to pre-pandemic levels, with approximately 9% of total consumption being spent abroad, amounting to about 50 billion HKD per quarter [4]. - The average spending of Hong Kong residents in mainland China ranges from 300 to 500 HKD per person, with over 450 million active users on the AlipayHK platform reflecting the consumption habits of more than two-thirds of Hong Kong residents [5]. - The consumption patterns differ significantly between Hong Kong and mainland China, with over 80% of spending in mainland China on lifestyle services, while local consumption in Hong Kong is primarily focused on retail and dining [5][6]. Group 2: Service Industry Dynamics - The upgrading of the service industry in mainland China has created new consumption forms that are difficult for Hong Kong to replicate, contributing to the sustained trend of residents consuming in mainland China [6]. - Digital services are becoming a key driver for integration in the Greater Bay Area, with over 200,000 Hong Kong residents using cross-border services in the past year, shifting from spontaneous to essential consumption [6][7]. Group 3: Economic Implications - The increase in Hong Kong residents' consumption in mainland China has led to a spillover effect, expanding beyond major cities to lower-tier cities and other regions [7]. - The consumption patterns indicate a potential outflow of spending from Hong Kong, which could lead to structural changes in the local economy if the trend continues [9]. - Historical data shows that foreign tourists' spending in Hong Kong has consistently exceeded local residents' spending abroad, indicating a net inflow of consumption that supports local businesses [8].