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Hong Kong’s Financial Secretary delivered a budget speech on 28 February 2018. The section dedicated to the financial services industry is available here.
Briefly, the following items are noteworthy for the asset management sector:
The speech provides no major surprises in the government’s areas of focus for the financial services industry, although the formal announcement of a limited partnership regime review will be welcomed by the private funds industry. The introduction of tax relief for voluntary MPF contributions should provide a much-needed incentive and impetus for investors to save more realistic amounts for retirement through the MPF system.
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