The Voice of Business in Hong Kong since 1861
The Chamber firmly believes in the critical importance of expanding Hong Kong’s tax treaty network and has put forward a number of suggested jurisdictions in response to an invitation from the Financial Services and the Treasury Bureau. We hold high hopes that substantive progress can be achieved in the near term by actively engaging the jurisdictions. Additionally, we highly recommend that the Government allocate additional resources to expedite the process.
The Chamber fully supports the Government’s proposed implementation of the Basic Law Article 23 Legislation, which is a welcomed step in the right direction for Hong Kong as it seeks to fulfill its constitutional duty and safeguard national security under the principle of “one country, two systems”. Whilst Hong Kong’s economic and social prosperity, as well as competitiveness as an international business hub rests upon such developments, sufficient clarity on the legal provisions and solid education and support from the Government for businesses and the public should also be considered to facilitate awareness and consensus building for the new legislation.
The Chamber is largely supportive of the Government’s latest proposals to further promote paperless corporate communications amongst Hong Kong's businesses to meet sustainability and efficiency objectives, which is also timely to facilitate further digital transformation within both the public and private sphere. At the same time, we recommend that a more detailed consultation of industry stakeholders on the legislative proposals, prior to their taking effect, would be beneficial to addressing potential uncertainties associated with these proposals, thereby meeting business needs whilst protecting investor interests.