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.

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.

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.