Hong Kong has for many years traded on the idea that it is Asia's global city, a welcoming home and gateway for foreign business to work in China and Southeast Asia.
It is the equivalent of London for Europe, New York for North America and Dubai for the Middle East.
However, recent government policy appears to suggest a lack of appetite to maintain this position, against rivals like Singapore and Shanghai.
The administration's approach to the tax on property is a good example.
The tax levy on properties resold in less than three years is good, clearly focused on speculators. But what is the function of the tax on foreigners buying property? This will make the cost of living for foreign staff of international businesses even more expensive.
I am director of an international business with more than 1,000 staff in Hong Kong and the mainland.