Hong Kong to close deals with firms from strategic sectors in months: Paul Chan
A handful of leading firms from emerging industries are expected to receive preferential policy packages and set up operations in Hong Kong within the “next couple of months”, the city’s finance chief has said, as part of efforts to attract investment. In an exclusive interview with the South China Morning Post, Financial Secretary Paul Chan Mo-po provided an update on the city’s drive to draw…
Hong Kong's finance chief, Paul Chan Mo-po, revealed plans to finalize deals with leading firms from strategic sectors within the next few months. During an interview with the South China Morning Post, Chan stated that his committee was in close discussions with a handful of firms in emerging industries, such as aerospace and new materials.
These firms would be offered preferential policy packages, including land grants, tax reductions, and co-investments with the government. The assessment of applications would be conducted on a case-by-case basis, taking into account factors such as investment amounts, potential growth, and economic benefits. The administration would also assist firms in securing approvals from authorities and providing expertise unavailable in the local market.
The preferential policy package was proposed in last year's policy address to facilitate negotiations between Hong Kong's investment attraction agencies and target firms. This year's policy address aims to roll out preferential tax rates of 5% or half-rate for selected enterprises operating in key sectors, including finance, advanced manufacturing, and research and development.
Written by urgent.news from South China Morning Post - Hong Kong's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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