Fresh from attempts to extricate himself from the recent penny stocks fiasco, Hong Kong's Financial Secretary, Antony Leung Kam-chung sought on Monday to reassure somewhat larger league investors that the jurisdiction will remain an attractive location in which to invest.
Speaking at a venture capital conference earlier this week, the Financial Secretary announced: 'Our tax base, or our revenue source right now is territorial in Asia and there is no intention of the government changing that,' adding that:
'As a matter of fact I have instructed the director of Inland Revenue to study this issue to ensure that Hong Kong remains a very attractive place for fund managers, including private equity investors and venture capitalists.'
The Hong Kong Standard reported that Mr Leung then went on to stress the benefits of SAR investment, which in his opinion include its independent judiciary, free flow of capital and information, favourable corporate tax regime, and 'viable exit route' for capital.
http://www.thestandard.com.hk/thestandard/news_detail_frame.cfm?articleid=34600&intcatid=1
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