The Honourable Paul MP Chan, GBM, GBS, MH, JP, Financial Secretary of the Hong Kong Special Administrative Region, delivered his 2022-2023 Budget Speech to the Legislative Council on 23 February 2022.
Every year, the Hong Kong business community hosts a luncheon for hundreds of executives to hear the Financial Secretary elaborate on the details of his latest Budget. Unfortunately, due to the COVID-19 situation, this is not possible again this year. However, we are deeply honoured that the Financial Secretary accepted our invitation to speak to the Hong Kong business community online on 23 March. Attendees were able to hear Mr Chan discuss the Government??s plans to steer its fiscal policy and enhance Hong Kong's competitiveness. Not least, he also discussed measures to help Hong Kong businesses cope with the extreme difficulties they are experiencing as economy struggles with this pandemic.
Developing the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and the Hainan Free Trade Port (Hainan FTP) are China's national strategies that are planned and promoted by President Xi Jinping. As Hong Kong and Hainan enjoy a strong bond and abundant economic complementarities with one another, our interdependent development offer unparalleled opportunities for Hong Kong companies.
Since the release of the Master Plan of the Construction of Hainan Free Trade Port two years ago, Hainan has attracted global enterprises to invest in the province and share new business opportunities leaps and bounds. Thanks to the open policy framework featuring "Zero-Tariff, Low Tax Rate, Simplified Tax System and much more Freedom".
With independent customs operations launched from year 2025, Hainan will be the largest free trade port in the world. To enable Hong Kong companies to fully embrace policy advantages and investment opportunities Hainan FTP has to offer.