Hong Kong customs officers seize HK$105 million worth of precious metals from smugglers at the border so far this year
Gold bars worth HK$11 million seized in Shenzhen, the latest in wave of smuggling busts
Border guards in Hong Kong have seized more than HK$100 million worth of precious metals being smuggled in and out of the city at border checkpoints this year, more than doubling the amount seized in the whole of last year.
Officials have attributed the surge to increased security checks and said smugglers were looking to exploit the differing gold prices on both sides of the border while avoiding high mainland tariffs.
And on Wednesday a Hong Kong man was caught entering the city from mainland China with HK$11 million (US$1.4 million) worth of undeclared gold in his car boot.
Customs officers stopped the BMW for inspection at Shenzhen Bay immigration control point, where city officials work on mainland land leased to the Hong Kong government. They arrested the driver, a 31-year-old Hongkonger, after seizing 35kg of undeclared gold with an estimated value of HK$11 million in the boot.
By Thursday afternoon, the man was still being held for questioning and had not been charged.
So far this year, officers busted 25 cross-border smuggling cases at the city’s immigration control points and seized HK$105 million worth of precious metals in total, arresting 34 people.
