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ExclusiveHong Kong’s John Lee calls trade offices ‘jewels’ under attack by West, vows to open more
- Lee also points to city’s tax system as an advantage, with investors able to ‘take home’ earnings without paying dividend or capital gains taxes
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Hong Kong’s overseas trade offices are “jewels” under attack by unfriendly Western governments in a geopolitical tussle with China, but their attempts to undermine the city’s economic interests will only spur it to set up more such missions in other countries, Chief Executive John Lee Ka-chiu has promised.
The city’s leader hailed the efforts of Hong Kong’s Economic and Trade Offices (ETOs) in promoting business and economic cooperation, dismissing suspicions about them raised by Western countries.
He also cited Hong Kong’s tax system as an advantage, with income tax being much lower than in other jurisdictions.
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Investors could also “take home” what they earned since they were not required to pay dividend or capital gains taxes, while affluent residents did not face any estate tax, Lee added.
“When we are in a propaganda war, then what people will do is they attack your jewels,” he told the Post in an exclusive interview.
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“I will only make my ETOs stronger. They will cover wider areas. So we’ll have ETOs open in more places.”
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