The Liberal Party has suggested waiving the buyers' stamp duty for locally registered companies without foreign directors or shareholders. James Tien Pei-chun, honorary head of the party, said this would alleviate the impact on the city's image as a free market. The government has imposed a 15 per cent tax on the real-estate transactions of non-permanent residents to cool the property market.
The Hong Kong Convention and Exhibition Centre's business remained stable despite the gloomy global economic outlook, according to managing director Monica Lee-Muller. She said the centre had held 1,224 events in the past year, of which 116 were exhibitions. It received more than 5.6 million visitors.
Police and immigration officers arrested 10 mainland women yesterday after carrying out raids on four flats in Yau Ma Tei, allegedly used as brothels. The women, aged between 22 and 57, were detained for breaching their conditions of stay.