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As global tax rates fall, Hong Kong’s traditional advantages are eroding. Tax policies should be used to encourage sectors where the economy has room to expand.
The National People's Congress Standing Committee has sketched out a broad framework for the election of Hong Kong's chief executive by universal suffrage in 2017.
The National People's Congress Standing Committee decision on political reform completed step two of the five-step process required to amend the method for the selection of Hong Kong's chief executive. It is a significant step forward in the city's democratic development.