Hong Kong’s stock exchange was second in the world last year in terms of initial public offerings. Photo: AP
Hong Kong’s stock exchange was second in the world last year in terms of initial public offerings. Photo: AP

Innovation, not low costs, will energise Hong Kong stock market, finance chief says in defending tax increase

  • Paul Chan doubles down on commitment to raising the stamp duty on stock transactions to 0.13 per cent on August 1, in spite of objections from the industry
  • ‘We are not in a race to compete on low costs, instead, we need to come up with innovative policies,’ he says

Hong Kong’s stock exchange was second in the world last year in terms of initial public offerings. Photo: AP
Hong Kong’s stock exchange was second in the world last year in terms of initial public offerings. Photo: AP
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