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Hong Kong’s ‘perfect’ liveability, low taxes are advantages as global finance hub: Paul Chan
- Hong Kong’s finance chief Paul Chan highlights city’s advantages like low taxes, ‘perfect’ liveability, government-backed ecosystem for start-ups
- He also makes a strong pitch for the city boosting its status among firms from overseas in emerging sectors within the so-called new economy
“There is an ecosystem that includes peers. We organise different activities to enable players in the field to interact with. So being in Hong Kong, you won’t be alone,” Chan said.
“We also have a very low and simple tax regime … we don’t have GST (goods and services tax), we don’t have VAT (value added tax) and we don’t have capital gains tax,” Chan said.
Life was “not all about making money”, Chan noted, saying liveability was “perfect” in Hong Kong.
“If you like hiking, we have mountains, if you like water sports, we have excellent beaches,” he said.
“But apart from fine dining, you may perhaps like to explore culture. Go to the wonton noodle shops and the street stores. Wonderful experience. I could go on and on,” the finance tsar said, speaking without a script.
Chan also emphasised that Hong Kong could become a regional hub for green technology and finance.
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