CPA Australia proposes recommendations for Hong Kong’s 2025 Policy Address
CPA Australia has presented a series of recommendations to the Hong Kong Government as part of the consultation for the upcoming Policy Address 2025.
This initiative seeks to address the ongoing economic changes and technological advancements affecting the region.
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Karina Wong, divisional president of CPA Australia in Greater China 2025, said: “Amid the uncertainties created by trade frictions with major economies, Hong Kong has demonstrated its unique advantages as a strategic gateway connecting mainland China and the world.
“We need to amplify our competitiveness to secure the city’s long-term economic vitality; for example, the free port status and unrivalled business environment.”
The recommendations focus on five main areas, including strengthening Hong Kong’s position as an international financial centre, establishing the city as a hub for innovation and technology, and diversifying the economy.
Additionally, CPA Australia has emphasised the need to promote environmental, social and governance principles and the green economy, alongside strategies for attracting and retaining skilled talent.
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By GlobalDataThe proposals include the introduction of a Qualified Refundable Tax Credit (QRTC) scheme targeting multinational enterprises in the maritime services and commodity trading sectors to provide a more flexible incentive structure.
Wong added: “A QRTC would allow Hong Kong to better compete for multinational investment and reinforce its position as a premier international trade centre and shipping centre.
“We also propose expanding the scope of the half-rate tax concessionary regime for commodity trading to include the captive commodities traders serving group companies outside Hong Kong and include the financial commodity transactions, such as derivatives trading.”
The organisation said it also supports the exploration of the low-altitude economy, which could impact logistics, mobility and urban planning in Hong Kong.
To improve the business environment, CPA Australia highlighted the importance of an efficient government process for delivering public services and fostering a sustainable green environment to attract investment.
In this context, an e-government framework has been proposed as part of the initiatives.
Cyrus Cheung, deputy divisional president of CPA Australia in Greater China 2025, underscored the critical role of sustainable development in shaping Hong Kong’s future.
He called for better alignment of the Hong Kong Taxonomy for Sustainable Finance with international standards to encourage investment in green initiatives.
Kelvin Leung, also a deputy divisional president of CPA Australia in Greater China 2025, noted that Hong Kong’s established financial system and the free flow of capital are essential for maintaining strong investment inflows.
He expressed confidence that the city could regain its status as the leading initial public offering (IPO) market globally by 2025.
To improve liquidity in the private market, CPA Australia has proposed testing an intermittent trading facility for private companies within a regulated environment.
Moreover, CPA Australia has recommended measures to strengthen cybersecurity for small and medium-sized enterprises (SMEs), including the introduction of a CyberSafe SME Subsidy Programme and a CyberSafe HK certification.
Lastly, CPA Australia has proposed increasing maternity and paternity leave to align with practices in other developed nations, with the aim of attracting and retaining talent in Hong Kong.
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