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Hong Kong authorities broadcasts measures to lure rich household places of work

HONG KONG: Hong Kong’s authorities introduced a sequence of measures on Friday (Mar 24) to draw rich household places of work to arrange within the monetary hub as authorities attempt to restore enterprise confidence and investor attract after three years of extreme COVID-19 guidelines.

A revamped funding migration scheme, new tax concessions and incentives akin to artwork storage services on the metropolis’s worldwide airport can be a part of the choices for household places of work within the Chinese language particular administrative area, the federal government stated in a press release.

The announcement comes as the previous British colony holds the Wealth for Good summit on Friday, which it stated had attendance from greater than 100 household places of work and enterprise figures together with former Yahoo CEO Jerry Yang, tycoon Richard Li, Robert Rosen of the Invoice and Melinda Gates Basis and Neil Shen, founding managing accomplice at Sequoia China.

“The coverage assertion demonstrates our dedication to develop Hong Kong into a number one world household workplace hub,” Paul Chan, town’s monetary secretary stated.

Chan stated this might assist bolster Hong Kong’s monetary sector in addition to areas together with expertise, inexperienced, arts and tradition and philanthropy.

Metropolis chief John Lee stated final 12 months that he had set a goal of attracting 200 massive household places of work to arrange in Hong Kong by 2025.

Hong Kong’s push to draw rich households comes as many rich people and firms shifted to rival monetary hubs akin to Singapore after Beijing’s imposition of a nationwide safety regulation on Hong Kong in 2020.

The shift was accelerated by stringent COVID-19 curbs that sealed Hong Kong’s borders and remoted it from the remainder of the world because it adopted China’s zero-COVID coverage.

Hong Kong has tried to rejuvenate its picture by internet hosting a sequence of occasions and conferences designed to enchantment to worldwide guests together with Artwork Basel this week and the Rugby Sevens and music competition Creamfields in April.

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