AustCham's Submission to the Hong Kong SAR

6 October 2017

Hong Kong: The Australian Chamber of Commerce in Hong Kong and Macau submitted its recommendations to the Hong Kong SAR ahead of the Chief Executive's first policy address due to take place next week.

In this submission, AustCham calls for the HKSAR to continue to preserve Hong Kong's place as a major international city by:

  1. Preserving the rule of law, independence of the judiciary, freedom of speech and free flow of capital;
  2. Harnessing Hong Kong’s inherent dynamism and capacity to innovate by laying fertile ground for start-ups and embracing digital technology; “walk the talk” in terms of ensuring that the bureaucracy acts as a role model establishing technological and digital best practices;
  3. Continuing to address entrenched bank account opening and administration difficulties impacting the ability of our members to do business;
  4. Providing clarity on potentially critical changes to data sharing arrangements and outline Hong Kong’s vision to act as a data hub;
  5. Providing tax incentives and certainty for corporations through a proposed regional headquarter tax concessions and Group Tax loss relief, among other initiatives;
  6. Stepping up critically needed actions to address Hong Kong ‘s impending ageing crisis and seek to mandate raising the retirement age across the board.

AustCham also fully supports the Hong Kong Government’s commitment to Free Trade Agreement (FTA) negotiations with Australia, noting the significance of the territory’s recent conclusion of talks with ASEAN on an FTA.

You can find our full submission here.