Skip to main content

Featured

More HZMB private car quotas set

The governments of Hong Kong and Macau have agreed to increase the regular quotas for Hong Kong cross-boundary non-commercial private cars using the Hong Kong-Zhuhai-Macao Bridge to Macau, the Transport Department announced today.   The decision was made to enhance traffic flow between Hong Kong and Macau, better utilising the bridge, the department said.   It will increase the Hong Kong quota by 1,000, following the earlier quota allocation of 1,800 for Hong Kong.   The additional quota will be distributed in two phases from the second quarter.   Half of the additional 1,000 quota allocations is for company applicants and the other half is for individual applicants. The quotas are valid for no more than three years. The eligibility criteria of quota applications remains the same.   Private cars allocated with Hong Kong quotas will be permitted to access the city of Macau multiple times using the bridge.   The Hong Kong quota allotments will be re-allocated upon expiry thro

HK attracts more investment

The Offshore China Fund Awards honours last year's elite performers in the Mainland's fund-management sector - business professionals who have excelled in meeting, and surpassing, changing market needs. In all, 36 well-deserved awards will be given out.   Beyond the stars, the industry in general has performed in excellence, despite the continuing challenges of the COVID-19 pandemic. At the end of 2020, your sector's funding totalled nearly HK$35 trillion, up a cheering 21%, year on year.   Our goal is clear: to develop Hong Kong into an international asset- and wealth-management centre. That vision is being realised through the industry's top-class professionalism and the continuing support of the governments in Hong Kong and cities in the Guangdong-Hong Kong-Macao Greater Bay Area, together with Mainland regulators.   The most recent initiative, the Greater Bay Area Wealth Management Connect, got going last September. As of last December, more than 21,000 individual investors had participated, acquiring financial products totaling RMB240 million. In the long run, the cross-boundary scheme will take our fund-management and offshore renminbi businesses to another level entirely.   We also welcome family offices to establish a presence here, capitalising on Hong Kong's singular advantages. In my Budget announced last month, I proposed tax concessions for investment vehicles managed by single family offices. We hope to submit the proposal to the Legislative Council later this year.   Financial Secretary Paul Chan delivered this video speech at the Offshore China Fund Awards 2021 on March 18.
http://dlvr.it/SLw60R

Popular Posts