|2021/01/12||HKGCC Budget Proposals for 2021-2022|
The Chamber has called on the Financial Secretary Paul Chan to implement near-term measures to help businesses hurt by the prolonged pandemic. In its submission to the Government’s 2021-2022 Budget, the Chamber also suggested, among other measures, issuing government debt to preserve fiscal strength, promoting Hong Kong as a leader in green finance and conducting a comprehensive review of the MPF system.
|2021/01/04||Statement of Support for a Municipal Solid Waste (MSW) Charging Scheme|
The Chamber is pleased to note that a Legislative Council’s Bills Committee was formed on 16 October 2020 to again study a bill to implement a charging scheme for the purpose of reducing MSW following a previous attempt to do so during the previous legislative term. The Chamber believes that such a charging scheme would lay a useful foundation for Hong Kong to manage waste in a more responsible and effective manner.
|2020/12/17||Response to the Government's Revised Amendment Proposal on Raising Penalties of Occupational Safety and Health Legislation|
The Chamber submitted a letter to the Labour and Welfare Bureau in response to the Government’s Revised Amendment Proposal on the Occupational Safety and Health Legislation. The Chamber disagreed with the substantial increase in penalties as it might lead to drastic consequences during the present dismayed economic situation. Instead, the Government should tackle the problem at source and focus on education and prevention instead of punishment.
|2020/12/14||Securities and Futures Commission’s Consultation Paper on Proposed Amendments to its Anti- Money Laundering and Counter-Terrorist Financing Guideline (the Guideline) September 2020|
The Chamber does not object to the Commission's proposal to amend its guidelines under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, but suggests that any additional compliance requirements should be facilitative and reasonably practicable to achieve.
|2020/09/30||Consultation Paper on Proposals to Introduce a Paperless Listing & Subscription Regime, Online Display of Documents and Reduction of the Types of Documents on Display|
The Chamber supports the HKEX’s proposals to go paperless although, in the process of doing so, consideration should be given to maintaining paper-based options so that some degree of flexibility is provided to the investing public.
|2020/09/30||Chamber Submission to the 2020/21 Policy Address|
Amidst the unprecedented challenges confronting Hong Kong, the Chamber has put forward five key recommendations on which the Government should be addressing as a matter of priority for the coming year. The Chamber has also included proposals that the Government should be looking at over the medium to long term.
|2020/09/18||Consultation Paper on the proposed application of the United Nations Convention on Contracts for the International Sale of Goods to the HKSAR|
The Chamber welcomes measures which are conducive to the development of international trade such as the proposal to apply the UN Convention on CISG to Hong Kong. While there are apparent benefits of doing so, a proper cost-benefit analysis should be conducted to better assess the impact this may have on the Hong Kong business community and our status as a leading international trading centre.
|2020/09/17||Follow-up Submission on Proposed Companies (Corporate Rescue) Bill|
The Chamber has made a follow-up response to the Financial Services and the Treasury Bureau based on the latest draft of the Companies (Corporate Rescue) Bill. The response provides further suggestions on the appointment of a provisional supervisor during the corporate rescue procedure and reiterates points made in the Chamber’s earlier submission.
|2020/09/10||Proposal to Provide Tax Concession for Carried Interest|
The Chamber supports the Government’s proposal to provide tax concession for carried interest as this could further strengthen Hong Kong’s status as an international asset management hub and has put forward views on the proposed measures in response to an invitation from the Financial Services and the Treasury Bureau.
|2020/08/07||Submission on Companies (Corporate Rescue) Bill Proposals |
In response to the Financial Services and the Treasury Bureau’s invitation, the Chamber has submitted its views on the Government’s latest proposals to introduce a statutory corporate rescue procedure and insolvent provisions in Hong Kong. The Chamber believe there is a pressing need to provide companies in financial difficulties with an alternative to liquidation especially under the sustained difficulties that Hong Kong has been experiencing since the middle of last year.