‘Mission impossible’ for China’s Greater Bay Area without flow of people, Hong Kong bourse chief Charles Li warns, saying facial recognition way forward
HKEX chief also calls for relaxation of tax rule for Hong Kong residents who work across border
Artificial intelligence technology could be used to boost the number of Hongkongers crossing the border to work in mainland China by calculating to the minute how long they spent there for tax purposes, the boss of the city’s stock exchange operator said on Wednesday.
Hong Kong Exchanges and Clearing chief executive Charles Li Xiaojia also called for a relaxation of a tax rule for Hong Kong residents who work across the border for more than 183 days a year.
Tax differences are seen as a factor that discourage Hongkongers from working across the border.
Currently, even a quick trip across the border is counted as one day for residents, and those who spend 183 days a year for work are required to pay the mainland’s heavy tax rate on income generated there.