News related to
global

• Connecting China and global markets to power growth
• Strengthening Hong Kong as a global trade and wealth hub
• Diversifying the economy and boosting workforce competitiveness
• Raising living standards for a healthier and liveable city

Connecting China with global markets and powering Hong Kong’s future economic engine

CPA Australia emphasises that Hong Kong must reinforce its position as the premier gateway connecting China with global markets. As China’s 15^th Five Year Plan places greater focus on high-quality opening up, Hong Kong is uniquely positioned to help Chinese enterprises expand overseas while attracting foreign direct investment into the Mainland through Hong Kong. Strengthening this gateway function will be critical to driving the city’s next phase of economic growth.

Mr Anthony Lau, Co-Chair of CPA Australia’s Greater China Taxation Committee stated,

“Developing a unified and coherent tax incentive framework for Corporate Treasury Centres (CTC) and regional headquarters (RHQ) would further strengthen Hong Kong’s appeal as a base for multinational operations. In addition, the effectiveness of re-domiciliation has attracted many overseas companies to move their legal domicile to Hong Kong. As there is no clear guidance on whether re-domiciliation will trigger Mainland tax liabilities and tax reporting obligations, we recommend the Hong Kong Government engages with the Mainland tax authorities to clarify that no actual transfer of assets occurs during the process, and therefore no Mainland tax should arise.”

“We also recommend advancing market connectivity measures such as allowing a tax deduction specifically for IPO-related expenses for companies that list on the Main Board of the HKEX, and continuing to enhance existing cross boundary financial mechanisms such as introducing an IPO Connect scheme.”

A streamlined approach would reduce complexity, improve tax certainty and encourage overseas and Mainland enterprises to centralise management, financing and strategic functions in Hong Kong.

CPA Australia also highlights the importance of positioning the Northern Metropolis as a flagship cross‑border innovation zone that will drive Hong Kong’s future growth. Mr Lau said, “To support the infrastructure development, we suggest the Government adopts forward‑looking financing tools that ease pressure on public finances. These may include issuing bonds targeted at with an estimate amount for example USD2 billion at different maturity to international investors, and providing a tax exemption for bond holders on interest income and trading profits derived from bonds issued for Northern Metropolis infrastructure projects, whether issued by the government or the private sector.

“To attract leading innovation and technology enterprises to the zone, we further recommend broadening the scope of qualifying R&D expenditures to include activities outsourced to related parties based and operating in other cities within Greater Bay Area. This reflects the increasingly integrated nature of cross boundary innovation and supply chains.”

Strengthening Hong Kong as a global trade centre and a hub for wealth retention

Hong Kong’s long‑standing role as a free, open and trusted trading and financial gateway remains central to its international relevance.

Ms Karina Wong, Deputy Chair of the Greater China Taxation Committee said, “Hong Kong should build on its unique status as a global trading centre by strengthening the free trade port regime and expanding support for high-value commodity trading, which would help diversify the city’s economic base and enhance market depth. Qualifying commodity items such as silver and rare-earth materials remain outside the current scope, the qualifying list needs to be reviewed regularly, with sufficient legislative flexibility, to ensure timely updates in response to market developments. The Government could also consider whether the scope should extend beyond physical trades and incidental income to cover derivative driven transactions, which form a significant part of global commodities activity.”

A stronger family office ecosystem is central to reinforcing Hong Kong’s role as Asia’s preferred hub for wealth management and succession planning. “We recommend introducing a preferential 8.25 per cent profits tax rate for Single Family Office, Multi Family Offices (MFOs) and fund managers to enhance Hong Kong’s competitiveness relative to other regional wealth management centres.

“Aligning the permissible investment asset classes under the family office tax concession regime with those under the Capital Investment Entrant Scheme (CIES) would also streamline operations, provide greater investment flexibility and further strengthen Hong Kong’s appeal among global wealth owners managing long term capital,” added Ms Wong.

Modernising Hong Kong’s philanthropy framework would encourage a more caring and compassionate community and strengthen the city’s appeal to long-term capital. “The generous donations supporting residents and the reconstruction of Wang Fuk Court show that Hong Kong is a caring city. To encourage greater philanthropic participation, we suggestremoving the current 35 per cent cap on cash donation deductions and allowing a full 100 per cent deduction, while introducing a 300 per cent enhanced deduction for contributions to designated funds, such as the Community Care Fund and Disaster Relief Fund. This would direct more resources toward areas of social need.

“These reforms will strengthen Hong Kong’s ecosystem for trade, wealth management and philanthropy, helping the city attract and retain long term capital and strengthen Hong Kong’s competitive edge,” Ms Wong said.

Diversifying the economy and enhancing workforce competitiveness

As advanced economies accelerate digital transformation and adopt emerging technologies, Hong Kong’s long-term competitiveness will depend on the city’s ability to scale innovation, raise productivity and strengthen the capacity of its workforce and enterprises.

“We propose to relaunch a revamped Technology Voucher Programme to help businesses, in particular SMEs, accelerate digitalisation and adopt artificial intelligence (AI) solutions that enhance efficiency and competitiveness.

“Strengthening R&D related tax incentives is equally important in driving innovation, therefore we propose increasing the cap for the highest rate of the R&D super tax deduction by raising the threshold for the 300 per cent deduction on qualifying R&D expenditure from HK$2 million to HK$4 million.” said Mr Janssen Chan, Co‑Chairperson of CPA Australia’s Greater China Taxation Committee.

SMEs remain the backbone of Hong Kong’s economy, yet many continue to face cost pressures and increasing competition.

“We recommend raising the cap under the two-tier profits tax regime for concessional 8.25 per cent half-rate from HK$2 million to HK$4 million of assessable profits. Extending the SME Financing Guarantee Scheme beyond March 2026 is another move that would ease operating pressures for smaller businesses and encourage reinvestment,” added Mr Chan.

By raising the two-tier profits tax cap, extending financing support and retooling tech programmes for AI adoption, the Government can give SMEs the room to grow and strengthen their long-term resilience.

Raising living standards and building a healthier and more liveable city

Mr Adam Chiu, member of the Greater China Taxation Committee, said the Budget should introduce targeted tax and subsidy measures that deliver practical support to households while encouraging healthier and more productive lifestyles.

“To provide direct relief to taxpayers, we recommend maintaining the 100 per cent salaries tax rebate on the 2025/26 final salaries tax, capped at HK$6,000. This would help offset rising living costs and support disposable income, particularly for middle‑income earners. We also propose introducing a tax deduction of up to HK$60,000 for working families who employ domestic helpers specifically to care for children, elderly family members or persons with special care needs. This would help ease caregiving pressures, support labour‑force participation.” Mr Chiu said.

He added that lifelong learning and skills upgrading are increasingly important in a rapidly evolving economy. “To enable individuals to undertake more advanced or specialised training, including in emerging areas such as AI, we recommend increasing the subsidy ceiling under the Continuing Education Fund to HK$30,000 per eligible applicant, and increasing the cap on the self-education tax deduction to HK$150,000 per year. To promote physical wellbeing, we also propose a tax deduction of up to HK$2,000 for sports‑related expenses.”

“By supporting working families, encouraging lifelong learning and promoting healthier lifestyles, these measures can collectively enhance quality of life and help build a more resilient and inclusive Hong Kong,” Mr Chiu said.

CPA Australia believes these recommendations will strengthen Hong Kong’s ability to engage more effectively with global markets, enhance its competitiveness as an international financial and business hub, and improve quality of life for residents. Taken together, these measures will help ensure Hong Kong is well positioned for a more sustainable, innovation driven and inclusive future.

Hashtag: #CPAAustralia

The issuer is solely responsible for the content of this announcement.

About CPA Australia

CPA Australia is one of the largest professional accounting bodies in the world, with more than 176,000 members in over 100 countries and regions, including more than 22,500 members in Greater China. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on issues affecting the accounting profession and the public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at cpaaustralia.com.au

Joker Xue is widely regarded as one of the most influential artists within the Mandopop industry. Known for his emotionally driven songwriting and distinctive vocal style, Xue has released multiple chart-topping albums and consistently sold out large-scale tours across Asia. In recent years, he has maintained active engagement with fans through concerts and social media platforms, reinforcing his reputation as a leading voice in contemporary Chinese pop music.

Meticulously crafted to capture his signature style, the figure features a casual yet instantly recognisable look – complete with his trademark glasses, a relaxed white T-shirt, and a playful pointing pose that reflects his charismatic stage presence. During the Lunar New Year period, fans to Madame Tussauds Singapore will be able to get up close with this lifelike figure as if he were standing right before and enjoy an immersive experience that blends pop culture with festive celebration.

“We hope Joker Xue’s wax figure brings an added sense of excitement and festive cheer to our Lunar New Year celebrations,” said Steven Chung, General Manager of Madame Tussauds Singapore. “The Lunar New Year is a special time for joy, reunion, and fresh beginnings, and we look forward to welcoming guests to celebrate the season with us in a fun, immersive, and meaningful way.”

The time-limited festive activities include:

Madame Tussauds Singapore continues to be a platform where fans can connect with global icons through unique, real-life experiences, blending entertainment, storytelling, and celebrity culture.

Join us this festive season to celebrate the Lunar New Year with Joker Xue and other international celebrities, and start the year with joy, luck, and unforgettable memories.

For more information about booking tickets to visit Joker Xue at Madame Tussauds Singapore, please visit www.madametussauds.com/singapore/
Hashtag: #MerlinEntertainments #MadameTussaudsSingapore

The issuer is solely responsible for the content of this announcement.

Madame Tussauds Singapore

Madame Tussauds has been inviting people to walk the red carpet and get closer to the revered – and feared – for over 250 years. With 22 attractions in the world’s top destination cities, we are dedicated to giving millions of visitors the opportunity to mingle with the mighty from A-listers to music legends, heroes of sport, to infamous world leaders. Today, we continue to partner with the global icons of a generation to create astonishing lifelike figures from sittings and offer exciting and interactive experiences to ensure guests have never felt closer to fame.

About Merlin Entertainments
Merlin Entertainments is a world leader in branded entertainment destinations, offering a diverse portfolio of resort theme parks, city-centre gateway attractions and LEGOLAND Resorts which span across UK, US, Western Europe, China and Asia Pacific. Dedicated to creating experiences that inspire joy and connection, Merlin welcomes more than 62 million guests annually to its growing estate, with over 140 sites across 23 countries. An expert in bringing world-famous entertainment brands to life, Merlin works with partners including the LEGO Group, Sony Pictures Entertainment, Peppa Pig, Dreamworks and Ferrari to create destinations where guests can immerse themselves in a wide array of brand-driven worlds, rides, and uplifting learning experiences. See www.merlinentertainments.biz for more information.

By K Raveendran The sharp note of disappointment sounded by Scott Bessent over the India–European Union free trade agreement says less about a single deal and more about a changing geometry of power in the global economy. At one level, Washington’s frustration reflects a familiar concern that sanctions and trade penalties are losing their bite […]

The article India-EU Free Trade Deal Redraws Balance Of Economic Power appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Speaking during the engagement, Abdulla bin Touq Al Marri, Minister of Economy of the United Arab Emirates, said air traffic between the UAE and India continues to show strong momentum, with around 1,231 direct flights operating each week between cities in both countries. Those services are spread across multiple carriers and hubs, reflecting the depth of commercial, tourism and people-to-people ties that underpin the aviation relationship.

The scale of connectivity has few parallels globally. The UAE serves as a critical transit and destination market for travellers from India, while Indian cities form the largest single source of international passengers for UAE airports. Industry data indicates that traffic has surpassed pre-pandemic benchmarks on several routes, driven by a rebound in business travel, a sustained flow of expatriate workers, and rising leisure demand in both directions.

Officials discussed measures to ensure that bilateral air services arrangements remain responsive to market realities. Capacity management, slot allocation at congested airports, and coordination on safety and security standards featured prominently. There was also a focus on ensuring that regulatory processes keep pace with airline expansion plans, particularly as carriers introduce new wide-body aircraft and add frequencies to secondary cities.

Bin Touq noted that aviation cooperation has spillover benefits for wider economic engagement, supporting tourism, trade in services and cargo connectivity. Air freight was identified as a growing pillar, with belly-hold capacity on passenger aircraft playing an increasing role in moving high-value and time-sensitive goods, including pharmaceuticals, electronics and perishables.

From the Indian side, officials emphasised the importance of predictable access to UAE hubs for carriers as they scale up international operations. India’s airport expansion programme, which has added new terminals and greenfield airports across several states, is expected to unlock further growth in outbound travel. That expansion has altered traffic patterns, enabling more direct international services from tier-two and tier-three cities, many of which already have links to the UAE.

Airlines operating on the corridor include network carriers and low-cost operators, creating a competitive landscape that has helped keep fares in check while expanding choice. The presence of multiple hubs in the UAE has also diversified routing options, strengthening resilience during peak travel periods and operational disruptions.

Beyond capacity, the talks addressed cooperation on sustainability and workforce development. Both sides acknowledged mounting pressure on the aviation sector to curb emissions and improve fuel efficiency. While sustainable aviation fuel remains limited in supply and expensive, officials discussed the importance of policy alignment, pilot projects and knowledge sharing to accelerate adoption over time.

Training and skills were another area of interest, as airlines and airports face shortages of pilots, engineers and air traffic management professionals. Partnerships between training institutions and recognition of certifications were flagged as practical steps to ease bottlenecks without compromising safety standards.

Technology and digitalisation also featured, with attention on passenger processing, biometric systems and data sharing to improve the travel experience. As passenger volumes rise, authorities are seeking to reduce congestion through smarter border controls and interoperable systems that can be scaled across airports.

The civil aviation dialogue sits within a broader economic partnership that has deepened over the past two years, including trade and investment initiatives across manufacturing, energy and digital services. Aviation remains a visible barometer of that relationship, given its sensitivity to economic cycles and consumer confidence.