Elevating Business Horizons: Hong Kong, London Shape New Collaborative Success

A delegation led by Hong Kong's Financial Secretary Paul Chan is visiting London from September 25-28, 2024. This visit aims to strengthen ties with European businesses and promote co-operation in financial services, innovation, and technology.

In his address to approximately 350 leaders from the British political and business sectors at the annual Hong Kong Dinner, Mr. Chan emphasized the enduring economic and cultural ties between Hong Kong and the UK. He reaffirmed the city's commitment to the "one country, two systems" arrangement, stressing the importance of common law and a friendly business environment.

Mr. Chan invited European businesses and talent to explore opportunities in Hong Kong, highlighting new legislation that simplifies the extension of leases beyond 2047. He also noted Hong Kong's absence of various taxes such as capital gains, goods and services, value-added, and digital services tax.

Hong Kong's economy has shown robust growth. The city is home to 2,700 single family offices, has the fourth-largest IPO market globally this year, and is expanding its innovation and technology ecosystem, he added.