New Year Bookshop opens in Mong Kok as Hong Kong independent bookstores face a harsh winter

41-year-old book lover Grace Lau invested a six-figure sum to open New Year Bookshop in Mong Kok, moving into a tenement building against the market trend. Recently, Hong Kong independent bookstores have closed one after another due to economic headwinds or political uncertainty. The opening, driven by passion and lower rents, is seen as a bold gamble on the literary prospects of the area.