Chen Maobo: Continuously optimizing Hong Kong's tax policies to create a more convenient business environment.

On June 29th, the Tax Policy Consultative Committee, chaired by Hong Kong Financial Secretary Paul Chan Mo-po, held its first meeting. Committee members listened to and discussed various preferential policies and measures under Hong Kong's current tax system, as well as relevant content proposed in this year's Budget, including preferential policies to promote investment and industrial development. Paul Chan Mo-po said: Tax policy is an important component in enhancing the competitiveness of the economy. Hong Kong has the advantage of a simple and low tax system, and its tax policy is widely recognized internationally. For example, in the latest World Competitiveness Yearbook published by the International Institute for Management Development, Hong Kong's tax policy has been ranked first globally for two consecutive years. However, in the face of the constantly changing and increasingly fierce global competitive environment, we must keep pace with the times, continuously optimize tax policies, create a more business-friendly environment, attract more high-quality enterprises to settle in Hong Kong, and support the long-term development of Hong Kong's economy. I sincerely thank all committee members for their participation and support, and for sharing their valuable insights and suggestions. The Financial Secretary proposed the establishment of the Tax Policy Consultative Committee in the 2026-27 Budget. The Committee's terms of reference include providing advice to the government on tax policy matters and, considering the evolving global tax environment and Hong Kong's international tax obligations, striving to maintain and enhance Hong Kong's economic development and competitiveness. The members include representatives from the commercial and professional sectors, as well as relevant government departments, as listed below: Chairman Financial Secretary Official Members Deputy Financial Secretary Director of Financial Services and the Treasury Bureau Director of Commerce and Economic Development Bureau Permanent Secretary for Financial Services and the Treasury (Treasury) Commissioner of Inland Revenue Government Economist Head of Budget and Tax Policy Branch Unofficial Members (listed in alphabetical order of English surnames) Roger Barbour Dr. Che Yat-Chiu Chan Shui-Kuen Chan Chung Yan Chan Ka-Wai Chan Tat-Hin Johannes Hack Namalee Kodikara Lam Sai-Ho Lo Choy-Yun Paul McSheaffrey Dr. Ng Kam-Wa Michael Olesnicky Au Hiu-Ming Chan Yuen-Chun Chan Cho-Hang Yan Yuen-Wai