diff --git a/hgext3rd/p4fastimport/importer.py b/hgext3rd/p4fastimport/importer.py
--- a/hgext3rd/p4fastimport/importer.py
+++ b/hgext3rd/p4fastimport/importer.py
@@ -132,8 +132,9 @@
                     raise error.Abort("can't find rev %d for %s cl %d" % (
                         baserev, localname, change.cl))
                 changed.add(localname)
-                if change.cl in info['flags']:
-                    mf.setflag(localname, info['flags'][change.cl])
+                flags = info['flags'].get(change.cl, '')
+                if flags != mf.flags(localname):
+                    mf.setflag(localname, flags)
                 fileinfo[depotname]['baserev'] += 1
 
             linkrev = self._importset.linkrev(change.cl)
@@ -416,7 +417,6 @@
                     c.cl, self.relpath))
 
             meta = {}
-            fileflags[c.cl] = ''
             if self._p4filelog.isexec(c.cl):
                 fileflags[c.cl] = 'x'
             if self._p4filelog.issymlink(c.cl):
@@ -481,13 +481,9 @@
         meta = {}
         if self._p4filelog.isexec(self._cl):
             fileflags[self._cl] = 'x'
-        else:
-            fileflags[self._cl] = ''
 
         if self._p4filelog.issymlink(self._cl):
             fileflags[self._cl] = 'l'
-        else:
-            fileflags[self._cl] = ''
 
         if self._p4filelog.iskeyworded(self._cl):
             text = re.sub(KEYWORD_REGEX, r'$\1$', text)
diff --git a/tests/test-p4fastimport-import-replace-symlink.t b/tests/test-p4fastimport-import-replace-symlink.t
new file mode 100644
--- /dev/null
+++ b/tests/test-p4fastimport-import-replace-symlink.t
@@ -0,0 +1,59 @@
+#require p4
+
+  $ . $TESTDIR/p4setup.sh
+
+populate the depot
+
+  $ mkdir Main
+  $ mkdir Main/b
+  $ echo a > Main/a
+  $ echo c > Main/b/c
+  $ ln -s b Main/d
+  $ p4 add Main/a Main/b/c Main/d
+  //depot/Main/a#1 - opened for add
+  //depot/Main/b/c#1 - opened for add
+  //depot/Main/d#1 - opened for add
+  $ p4 submit -d initial
+  Submitting change 1.
+  Locking 3 files ...
+  add //depot/Main/a#1
+  add //depot/Main/b/c#1
+  add //depot/Main/d#1
+  Change 1 submitted.
+  $ p4 delete Main/d
+  //depot/Main/d#1 - opened for delete
+  $ p4 submit -d delete
+  Submitting change 2.
+  Locking 1 files ...
+  delete //depot/Main/d#2
+  Change 2 submitted.
+  $ echo d > Main/d
+  $ p4 add Main/d
+  //depot/Main/d#2 - opened for add
+  $ p4 submit -d replaced
+  Submitting change 3.
+  Locking 1 files ...
+  add //depot/Main/d#3
+  Change 3 submitted.
+  $ p4 files ...
+  //depot/Main/a#1 - add change 1 (text)
+  //depot/Main/b/c#1 - add change 1 (text)
+  //depot/Main/d#3 - add change 3 (text)
+
+Now import it
+
+  $ cd $hgwd
+  $ hg init --config 'format.usefncache=False'
+  $ hg p4fastimport --bookmark master -P $P4ROOT hg-p4-import
+  $ hg update -r 0
+  3 files updated, 0 files merged, 0 files removed, 0 files unresolved
+  $ ls -l Main/d
+  lrwxrwxrwx 1 .* Main/d -> b (re)
+  $ hg update -r tip
+  1 files updated, 0 files merged, 0 files removed, 0 files unresolved
+  $ ls -l Main/d
+  -rw-r--r-- 1 .* Main/d (re)
+
+End Test
+
+  stopping the p4 server