DAB lawmakers on Thursday known as on the authorities to extra decrease imprint accountability on stock transactions to make the stock market extra appealing.
The authorities reduced the imprint accountability on stock transactions from 0.13 percent to 0.1 percent for every merchants and sellers in November last year, but DAB lawmaker Edmund Wong urged that handiest sellers must unruffled pay the imprint accountability of 0.1 percent.
“Many of the capital markets are in actuality charging a zero imprint accountability or a somewhat low imprint accountability. We assume that lowering the transaction fee will most certainly be important for declaring our competitiveness with the worldwide markets, to boot to in accordance with the worldwide trend of a zero imprint accountability tax rate,” he talked about.
“Despite the indisputable fact that it can perchance also honest fetch an worth on authorities revenues within the long duration of time, we assume that the applications may perchance also extra wait on our competitiveness, to boot to attracting the skill, and the money to Hong Kong for extra investment.”
DAB lawmaker Rock Chen, within the meantime, talked about it took an common of eight months for companies to derive newly listed in Hong Kong, which became double that within the US.
He talked about Hong Kong must unruffled streamline its vetting and approval procedures for unusual itemizing applications as that can provide extra certainty for companies.
“For Hong Kong, the time to combat via IPO applications is comparatively lengthier than tons of our global opponents, especially the US,” he talked about.
“We propose a service pledge, that methodology for every aspects, the regulators and also the candidates, extra enquiries must unruffled be issued within 22 exchange days, roughly one calendar month. So as that can make the communication and the enquiries extra useful.”
Chen talked about China’s central financial institution unveiled a series of measures to elevate the country’s financial system, which incorporated cutting again passion rates and rates on existing mortgages.
He talked about the measures would profit Hong Kong, but the metropolis must unruffled make its market extra appealing, fairly than handiest counting on external elements.
