The amount of money spent by mainland Chinese tourists on life insurance in Hong Kong has suffered the worst slump on record, plunging by three quarters as the Covid-19 pandemic prevented people from travelling to the city.

Mainlanders spent a total of HK$6.2 billion (US$799.96 million) on life policies in Hong Kong in the first half of the year, a 76 per cent decline from the same period a year ago, according to the Insurance Authority. They accounted for 10 per cent of the total spent.

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