Working for fruitful B&R

Source: Xinhua | 2017-12-20

HONG Kong aims to enhance cooperation with Shanghai to serve the treasury needs and overseas expansion of Chinese mainland companies under the Belt and Road Initiative, the head of Hong Kong's investment promotion agency told Shanghai Daily yesterday.

“Within the recent half year Hong Kong has offered Shanghai companies really exciting opportunities as they continued on their own internationalization,” said Stephen Phillips, director-general of InvestHK. “Hong Kong has so many ingredients that can help Shanghai companies go all around the world.”

He added that Hong Kong promotes its lower tax rates and open market to attract mainland investment. Hong Kong in October halved the profit tax rate for the first HK$2 million (US$256,000) generated by a small and medium sized company to 8.25 percent.

The Hong Kong government has also cut the tax for aircraft leasing companies in July.