Source: eCompany Author: Han Zhongnan On June 25th, the Hong Kong Stock Exchange disclosed that Berkshire Hathaway sold 2.0175 million shares of BYD Company Limited on June 19th, with an average reduction price of HKD 234.57 per share, cashing out approximately HKD 473 million, and the shareholding ratio decreased from 6.18% to 5.99%. It is worth noting that on June 11, Berkshire Hathaway just made a reduction and cashed out HKD 311 million. Reviewing the previous information, since the first reduction of BYD in August 24, 2022, the "stock god" Buffett has reduced his holdings of BYD many times. The shareholding ratio of Berkshire Hathaway has been adjusted from 19.92% to the current 5.99%. Some strategic analysts said that once Berkshire Hathaway's shareholding ratio of BYD drops to 5%, Buffett's reduction speed may accelerate. On June 25th, BYD A shares rose by 1.63%, closing at RMB 254.01 per share, and Hong Kong stocks rose by 0.84%, closing at HKD 239.60 per share. In the Berkshire Hathaway shareholder meeting held in May this year, Buffett mentioned BYD, saying that BYD and Costco were the stocks that he and Munger worked together for these years and Munger most firmly advocated buying. Talking about why he reduced holdings of BYD, Buffett said that Berkshire Hathaway's investment in BYD was similar to the investment in Japan five years ago, which was a large investment that was rare outside of the United States. In the future, he hopes to focus more on the United States. In fact, recently, not only has Buffett been continuously reducing his holdings of BYD, but his favorite "apple" has also been greatly reduced. The latest holding situation submitted by Berkshire Hathaway to the US Securities and Exchange Commission (SEC) shows that in the first quarter of 2024, Buffett reduced his holdings of Apple Inc. by about 116 million shares, reducing his holdings of Apple from 49.3% at the end of 2023 to 40.3%. Analysts pointed out that judging from the portfolio adjustment actions, Buffett is withdrawing from the technology sector and returning to the industries he was familiar with before. The most obvious change is that Buffett has re-established a large position in Chubb Ltd. which he previously owned. Buffett also said in a recent letter to shareholders, "Property and casualty insurance provides the core protection for Berkshire's health and growth." "Only take a swing when conditions are right," Buffett believes that unless he can find investment standards with low risk and lucrative returns, he will not spend this money.
Author: Cao Chen.

On November 29th, the Exit and Entry Administration of the People's Republic of China announced that, with the approval of the State Council, the "one sign, multiple trips" policy for traveling to Hong Kong will be implemented in Shenzhen, Guangdong Province, the "one week, one trip" policy for traveling to Macau will be implemented in Zhuhai, and the "one sign, multiple trips" policy for traveling to Macau will be implemented in the Hengqin Guangdong-Macao Deep Cooperation Zone.

Half an hour after the policy announcement, the search popularity for Hong Kong and Macau destinations on the tongchengtravel platform increased by over 30% compared to the previous period.

According to data from tongchengtravel, the Hong Kong and Macau regions ranked among the top 10 popular overseas travel destinations for mainland residents this year. Since the beginning of the year, orders for mainland residents traveling to Hong Kong and Macau have increased by over 11% year-on-year. For travelers from Shenzhen and Zhuhai, Hong Kong and Macau are familiar "old friends". Taking the Shenzhen-Hong Kong route as an example, since the beginning of the year, the number of vehicle and ferry orders from Shenzhen to Hong Kong has increased by 21% year-on-year, ticket orders have increased by 38%, and car rental orders have increased by 53%.

Qin Jing, vice president of tongchengtravel Group, believes that in recent years, the demand for tourism, cultural and business exchanges between mainland China and Hong Kong and Macau has continued to grow. This adjustment of policy not only provides convenience for travelers facilitating multiple trips, enriching the life experience of residents in the south china greater bay area concept, but is also expected to boost tourism and related industry revenue in Hong Kong and Macau. Moreover, this initiative will effectively strengthen urban linkages within the south china greater bay area concept, promote regional integration, and bring more possibilities and vitality to regional development.

On the qunar platform, one hour after the policy announcement, the search popularity for Hong Kong and Macau increased by 40% compared to the previous period, with train and hotel searches seeing the highest increases. A reporter found that some train trips from Shenzhen to Hong Kong were already sold out on December 1. In terms of hotel bookings, this year, Hong Kong and Macau ranked among the top five popular overseas travel destinations on the qunar platform, with bookings exceeding the same period last year.

The Qunar Big Data Research Institute analyzes that the introduction of the "one visa for multiple trips" and "one trip per week" policies will effectively promote personnel exchanges within the region, strengthen familial ties, and foster cultural and business cooperation, further advancing the integration process of the south china greater bay area concept.

The Chief Researcher of Tongchengtravel Research Institute, Cheng Chaogong, also stated that the implementation of facilitation policies for Hong Kong and Macau visa arrangements for cities in the Greater Bay Area such as Shenzhen and Zhuhai will further promote the integrated development of the tourism industry in the Greater Bay Area. Since 2024, a series of customs facilitation policies aimed at Hong Kong residents have been implemented at Shenzhen ports, effectively driving their tourism and holiday consumption in the north. Data shows that during key periods in 2024 such as Easter, the Dragon Boat Festival, and summer vacations, the flow of Hong Kong residents traveling north to Shenzhen has reached new highs, making weekend trips to Shenzhen a new choice for many Hong Kong citizens, indicating that the implementation of customs facilitation measures has a significant promotional effect on increasing the flow of people between core cities in the Greater Bay Area.

It is believed that with the optimization of visa policies for cities in the Greater Bay Area such as Shenzhen and Zhuhai, the flow of travelers from these areas to Hong Kong is expected to see a significant increase, especially during weekends and public holidays such as Christmas, New Year's Day, and the Spring Festival, which are anticipated to welcome a peak period for Greater Bay Area residents traveling to Hong Kong.

Data from the Tongchengtravel platform indicates that core cities in the Greater Bay Area, such as Shenzhen, have consistently ranked among the top source cities for mainland visitors to Hong Kong. In the first three quarters of 2024, the booking popularity of cultural tourism attractions and leisure products in Hong Kong sourced from mainland cities such as Shenzhen has increased nearly sevenfold compared to the previous year. Additionally, Hong Kong serves as an important departure point for outbound travel for Greater Bay Area residents, and it is expected that after the optimization of visa policies, the international departure and transit flow at Hong Kong airport from Shenzhen and Zhuhai will further increase.

Editor/Jeffy