Apple to open fifth Hong Kong store on June 30 as Chinese expansion continues

Apple's will debut its fifth store in Hong Kong on June 30, reflecting the importance of both the city and the Chinese market in general.

The New Town Plaza outlet will launch at 10 a.m. local time next Thursday in the Sha Tin district, according to Apple. Operating hours will run from 10 a.m. to 10 p.m. seven days a week.

Hong Kong has long been a vital market for Apple, given the number of wealthy residents in the city. Prior to mainland China becoming an iPhone launch market, it was also a destination for gray-market shoppers, many of them scalpers.

Few other cities are as densely packed with Apple Stores. There are six apiece in New York City and London, for instance.

The new shop will be Apple's 46th in the Greater China region. Although the company's Chinese growth has seen setbacks in recent months, retail expansion is expected to continue, given the sheer number of middle- and upper-class shoppers Apple may be able to reach.