Chan Maobo: Studying tax incentives for qualified institutions engaged in gold trading and settlement in Hong Kong

PANews February 25 News, the Financial Secretary of the Hong Kong SAR Government, Paul Chan, stated that after signing a cooperation agreement with the Shanghai Gold Exchange at the beginning of the year and establishing the Hong Kong Gold Central Clearing System, we will: study providing tax incentives for qualified institutions engaging in gold trading and settlement in Hong Kong; assist the industry in establishing an industry association to gather resources, strengthen promotion, and expand connections with domestic and international industry players; as well as help the industry understand the latest developments in the gold market, acquire relevant skills, and establish a training framework.

Paul Chan also mentioned that to continuously optimize the securities market, attract issuers, and improve market efficiency, the Hong Kong Stock Exchange will promote the following work: in the first quarter, revise listing requirements for “same share, different rights” companies, facilitate secondary listings for overseas issuers, optimize the initial public offering process, and provide more flexibility for biotech and specialized tech companies applying for listing; in the first half of the year, implement a refined listing framework for structured products and consult the market on the specific implementation plan for promoting a “T+1” settlement cycle; reform the trading unit for securities transactions, and, together with the Hong Kong Securities and Futures Commission and industry players, launch a paperless securities market system within the year.