Hong Kong’s Chief Executive John Lee dropped a major policy blueprint this week, outlining ambitious plans to boost the city’s global competitiveness. From slashing liquor taxes to building a shiny new gold trading hub, here’s what you need to know.
🚢 Charting a Course for Maritime Dominance
A new Hong Kong Maritime and Port Development Board will steer the city’s shipping future, backed by funding for green fuel initiatives and upgraded port tech. Think real-time cargo tracking and plans to become Asia’s #1 green maritime hub by 2025!
🏡 High-Rollers Welcome: Property Now Part of Investment Scheme
Got HK$50 million to spare? The updated investment program now lets wealthy applicants count luxury property purchases toward residency—a move that’s already attracted over 550 applications since March. 💼
🍸 Cheers to Cheaper Booze (for Some)
Pricey whiskey imports just got friendlier: Duties on liquor priced above HK$200 dropped from 100% to 10% for the overage. Club promoters and logistics companies, rejoice!
💰 Gold Rush 2.0
Hong Kong plans to become the world’s premier gold trading hub, with upgraded storage vaults and new fintech-driven trading systems. Think 'Ocean’s Eleven' meets Wall Street, but fully legal.
🎓 Global Student Magnet
Hong Kong’s rolling out the red carpet for ASEAN and Belt and Road students, offering scholarships and visa extensions to build its 'Study in Hong Kong' brand. Over 160,000 talents have already moved in since 2022!
