Mainlanders favor HK insurance despite new payment limits

Hong Kong is a famous destination for mainland shoppers to buy luxury products at a reasonable price. But now, more people are going to Hong Kong for another shopping item, insurance. Insurance shopping in Hong Kong has gotten so popular that China’s Union Pay is now limiting the amount anyone can pay to a Hong Kong insurance company to 5,000 US dollars per transfer. Also, the insurance regulator has recently warned mainlanders that insurance bought in Hong Kong is not protected by domestic law. What’s the business all about? Our reporter Mi Jiayi explains.

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