One of Hong Kong’s most senior officials has promised business that the territory’s status as a “tax haven” is safe despite political and economic turmoil as the city fends off rivals to its regional financial hub role.
Matthew Cheung, the city’s highest ranking bureaucrat, also said Hong Kong’s respected judges would not have to swear a new oath to China and its ruling Communist party as the government cracks down on dissent in the city’s civil service.
“You can rest assured that for some time Hong Kong will still remain a tax haven — very low tax in Hong Kong is assured, foreign investors don’t worry about it,” Cheung, Hong Kong’s chief secretary for administration, said in an interview with the Financial Times.
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