HONG KONG – Hong Kong Chief Executive John Lee on Wednesday will lay out his vision for the city’s revival as an international financial hub during his maiden policy address, which is likely to include measures to ease property taxes and visa restrictions.
While the city’s most punishing Covid-19 controls have been lifted, the economy is still projected to contract this year for the third time since 2019 as rising interest rates, global inflation and Such a change would allow firms to skip a process that now requires them to show they’ve made efforts to recruit locals for roles before hiring from the mainland or abroad.
Mr Lee’s policy address won’t likely lay out a precise time frame for the full removal of restrictions, either for Hong Kong’s international borders or for its shared land border with mainland China, according to a South China Morning Post report citing anonymous sources. The paper did say, however, that Mr Lee would pledge to relax more measures as the city begins to host international events in November.