Strategic enterprises: more than 40 strategic enterprises have set up or expanded their businesses in Hong Kong, or will do so. Total investment of over $40 billion, creating 13 000 jobs
Hong Kong Investment Corporation Limited: implement the first batch of direct investment and co-investment projects in the first half of this year, covering life technology, green technology, semiconductors, chips, etc.
Organise “Roundtable for International Sovereign Wealth Funds” and “Summit on Start-up Investment and Development in Hong Kong”
Submit legislative proposal to implement re-domiciliation mechanisms in first half 2024
Prepare to list an Exchange Traded Fund (ETF) in the Middle East tracking Hong Kong stock indices
Review arrangements of Top Talent Pass Scheme in mid-2024 and host a Global Talent Summit
Property Market
Cancel Special Stamp Duty, Buyer's Stamp Duty and New Residential Stamp Duty for residential properties with immediate effect
Further relax countercyclical macroprudential measures for property mortgage loans and adjust other supervisory policies for property lending
Stock Market
Actively take forward recommendations by Task Force on Enhancing Stock Market Liquidity
Introduce treasury share buy-back regime and maintain trading operations under severe weather: targeting to implement in mid 2024
Explore measures to enhance listing regime, improve transaction mechanism, boost investor services, step up market promotion, etc.
Waive stamp duties payable on transfer of Real Estate Investment Trust (REIT) units and jobbing business of option market-makers
Assisting Small and Medium Enterprises
SME Financing Guarantee Scheme: extend application period for 80% and 90% Guarantee Products till end March 2026
BUD Fund: inject $500 million with launch of “E-commerce Easy”. Provide up to $1 million per enterprise for implementing e-commerce projects in the Mainland
Digital Transformation Support Pilot Programme: SMEs in the F&B and retail industries to be invited to select ready-to-use solutions starting early this year
Building the Hong Kong Brand
Allocate over $1.09 billion to strengthen tourism development and organise events. Highlights include:
Splendid Victoria Harbour: Monthly pyrotechnic and drone shows; and revamping “A Symphony of Lights”. Pilot scheme on F&B, retail and entertainment facilities at the harbourfront
Immersive and in-depth tourism: based on themes such as “Citywalk”
Local characteristics: continue to hold “Sai Kung Hoi Arts Festival” and “Design District Hong Kong”
Launch a new Hong Kong tourism brand
Promote multi-destination tourism in collaboration with GBA cities
Quality tourism services: Launch new round of publicity to promote Hong Kong as a hospitable city
Earmark $100 million to boost mega-event promotions over next 3 years
Continue to organise thematic financial forums, such as the Global Financial Leaders’ Investment Summit and the Wealth for Good in Hong Kong Summit
Launch a new Sponsored Overseas Speaking Engagement Programme to sponsor renowned scholars and industry leaders in promoting Hong Kong overseas
Supporting People and Enterprises
Rates concession for domestic properties for the first quarter of 2024/25, subject to a $1,000 ceiling
Rates concession for non-domestic properties for the first quarter of 2024/25, subject to a $1,000 ceiling
Reduce salaries tax and tax under personal assessment for the assessment year 2023/24 by 100%, subject to a $3,000 ceiling
Reduce profits tax for the assessment year 2023/24 by 100%, subject to a $3,000 ceiling
Provide extra half-month allowance of standard CSSA payments, Old Age Allowance, Old Age Living Allowance or Disability Allowance. Similar arrangements for Working Family Allowance
