|2022/09/09||Chamber Submission to the 2022/23 Policy Address|
In anticipation of John Lee’s inaugural Policy Address, the Chamber has submitted recommendations on 9 key policy areas on which it feels the current administration should be focusing on as a matter of priority.
|2022/07/28||International Sustainability Standards Board (ISSB) Consultation on Sustainability-related Financial Information and Climate-related Disclosures|
The Chamber welcomes and supports the ISSB’s initiative to formulate a comprehensive set of global sustainability disclosures to serve as performance guideposts for businesses, while providing consistent, comparable and high-quality ESG reporting designed to meet investor needs. However, questions over the approach to and with the proposed standards, such as the lack of clarity on when the ISSB will be fully quorate and the absence of the principle-based GRI standard, will have to be addressed before the new standards are introduced.
|2022/07/22||Consultation on Proposed Refinements to Hong Kong’s Foreign Source Income Exemption (FSIE) Regime for Passive Income|
The Chamber supports the Government’s efforts to remove Hong Kong from the European Union’s watchlist by introducing changes to our FSIE regime while upholding the key principles of our taxation policy. However, more clarity should be provided on certain issues including the interpretation and application of covered income and economic substance requirement, as well as the eligibility criteria for the proposed participation exemption.
|2022/07/19||HKGCC’s Survey on Travel and Quarantine Restrictions|
The Chamber has called on the Government to normalize international connectivity. Based on findings from a Chamber survey conducted in May 2022, an overwhelming majority of respondents have been affected by restrictive travel measures.
|2022/07/18||Consultation on Occupational Safety and Occupational Health Legislation (Miscellaneous Amendments) Bill 2022|
HKGCC supports the Government’s policy objective of improving health and safety at work. However, we believe that it can be achieved more effectively by means other than significantly raising penalties, and doubling the period for summons from six months to one year as proposed.
|2022/06/10||Discussion Paper on e-HKD from Policy and Design Perspective|
The Chamber welcomes the notion of an e-HKD as a digital legal tender given the associated benefits that would go towards consolidating the city’s standing as an international financial centre. The Chamber has also put forward design and implementation recommendations on the development of such a Central Bank Digital Currency.
|2022/06/06||Competition Commission Consultation on the Proposal to Vary (Renew) the Competition (Block Exemption for Vessel Sharing Agreements) Order 2017|
The Chamber welcomes the Commission’s proposals to extend the Block Exemption for Vessel Sharing Agreements) Order 2017 (“the Order”). At the same time, we continue to advocate for the extension of the Order for five years, as well as the removal of the market share limit for vessel sharing agreements currently imposed under the Order.
|2022/06/01||Submission on Public Consultation on the Review of the Statutory Minimum Wage Rate |
HKGCC welcomes the opportunity to comment on the review of the Statutory Minimum Wage (“SMW”) rate, which we recommend to be left unchanged at the current level of $37.5 per hour.
|2022/04/27||Chamber Submission to the 2022 Chief Executive Candidate|
In its letter to the sole CE Candidate John Lee, the Chamber has made a range of recommendations including the call for a clear roadmap to restore links with the rest of the world.
|2022/04/08||Consultation Paper on Proposal to Provide Tax Concession for Family-owned Investment Holding Vehicles|
The Chamber welcomes the proposal to grant qualifying entities the right to enjoy tax concessions as this would further consolidate Hong Kong’s position as a premier international financial centre. At the same time, the Chamber calls on the government to also address non-taxation issues to better position Hong Kong as a preferred destination for family offices.