Hong Kong Financial Secretary Paul Chan Mo-po: Will not reduce the stock stamp duty; the increase in stamp duty this fiscal year mainly comes from stocks.

Financial Secretary Paul Chan attended a special meeting of the Legislative Council Finance Committee to consider the possibility of the government establishing a mechanism to review the stock stamp duty. Chan stated that the stamp duty is an important source of government revenue, with the main increase in stamp duty this fiscal year coming from stocks, while property stamp duty has been significantly reduced due to market conditions still being unstable. He emphasized the need to consider public finance and public interest perspectives. Additionally, the government will consider Hong Kong's competitiveness compared to other regions to prevent business loss. Chan reiterated that there will be no further reduction in the stock stamp duty unless the external environment makes Hong Kong less competitive. According to previous research, the current level of stamp duty is deemed appropriate in terms of transaction volume and competitiveness. As for new areas such as real estate funds and exchange traded funds, there will be more flexibility, but the government will still adhere to the bottom line of revenue collection and will not overlook the feelings of the general public.