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Hong Kong's Shopping Spree Surges On, and on

losing significance, Hong Kong is seen more and more by international luxury names as "the trend-setting city for the rest of China."

"The luxury market in Hong Kong is large and it is a window to the region, particularly China," said Boris de Vroomen, managing director of Moet Hennessy Diageo Hong Kong, whose brands include Moet et Chandon and Veuve Clicquot.

Proof of the central role of shopping in Hong Kong came when the visiting French president Jacques Chirac lent the city a huge Picasso, the first time the work had been shown in Asia.

Instead of being displayed in a gallery, the work was given pride of place in a downtown shopping mall.


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