HONG KONG, Oct 25 — Buffeted by years of upheaval and China’s economic slowdown, Hong Kong’s leader today outlined his annual policy vision focused on kick-starting the...
Bandar Mahkota Cheras' Restoran Hakka Yong Taufu deserves a star for its plump 'yong tau foo' filled with fish paste, minced pork and salted fish
Mass pro-democracy protests in 2019, the Covid lockdown, the emigration of tens of thousands of residents and unease over a national security crackdown have all sapped energy from one of Asia’s most vibrant cities. But Lee, who was sanctioned by the US government for his role in cracking down on freedoms after the pro-democracy protests in 2019, also emphasized the need to bolster national security — a priority for China’s President Xi Jinping.“External forces continue to meddle in Hong Kong affairs,” he said, adding that fresh security legislation including laws to counter alleged espionage activities, known as Article 23, would be enacted by the end of 2024.
“The Hong Kong business environment is already facing challenges due to an unwelcoming atmosphere and a repressive political climate,” said Sunny Cheung, an exiled activist and visiting fellow at John Hopkins University in Washington D.C.Turning to the property market, Lee said stamp duty, would be halved to 7.5 per cent from 15 per cent for second home buyers and non-citizen buyers with immediate effect, to help revive a sector that is one of the economy’s pillars.
The reaction from investors was lukewarm, with shares of Sun Hung Kai Properties 0016.HK and Henderson Land 0012.HK, two major residential property developers, closing down 0.5 per cent and 0.7 per cent, respectively.
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