Hong Kong strengthen ties with European businesses

He encouraged British businesses and talent to explore opportunities in Hong Kong.

Financial Secretary Paul Chan led a Hong Kong delegation on a four-day visit to London aimed at strengthening business connections in Europe.

The trip, which took place from 25 to 28 September, marks the second leg of Chan’s overseas journey aimed at enhancing cooperation, particularly in the areas of financial services and innovation and technology.

At the annual Hong Kong Dinner, Chan addressed around 350 leaders from the British political and business sectors, emphasising the strong economic and cultural ties between Hong Kong and the UK. 

He reaffirmed Hong Kong’s commitment to the "one country, two systems" principle, which ensures the rule of law and a favorable business environment.

Chan highlighted recent legislation that allows for the simplified extension of leases beyond 2047, highlighting Hong Kong's common law heritage and its pro-business stance. He noted the absence of capital gains tax, goods and services tax, and withholding tax on dividends and interest.

He also discussed Hong Kong's robust economy, which includes 2,700 single family offices and a fourth-ranking global IPO market this year. He encouraged British businesses and talent to explore opportunities in Hong Kong, aiming to bolster cooperation for mutual benefit.

During their visit, the delegation will participate in various events to share insights on Hong Kong's latest developments and advantages as a business hub.