HONG KONG (AP) — Hong Kong’s leader on Wednesday cut taxes for some homebuyers and stock traders to boost markets as the city seeks to maintain its reputation as a global financial hub.
Official data showed that a 15% year-on-year drop in home prices last December, and a 39% yearly decline in the volume of residential property transactions in 2022.
A former security chief handpicked by Beijing to lead Hong Kong, Lee also is aiming to enact the city's own security law next year.
But the city's constitution requires Hong Kong, a semi-autonomous territory, to enact its own laws for acts such as treason, secession and subversion.
“External forces continue to meddle in Hong Kong affairs,” Lee said, without elaborating.
Persons:
Hong, John Lee, Lee, ” Lee
Organizations:
British
Locations:
HONG KONG, China, Hong Kong, Beijing