Hong Kong’s retail sales jumped by 12.8 per cent in March, bringing first-quarter growth to 9.8 per cent, driven by a spurt in sales of electric cars ahead of the withdrawal of tax breaks.
Provisional figures released by the Census and Statistics Department on Wednesday showed that retail sales reached HK$33.9 billion (US$4.32 billion) in March.
The March increase was largely fuelled by car sales as buyers raced to make deals before the first registration tax concessions for electric cars ended…