Hong Kong Plans Half-Rate Tax Breaks to Lure Commodity Traders

Hong Kong will establish tax concessions on profits for commodity traders, a move aimed at reinforcing the city’s role as a trading hub.

The government will provide half-rate tax breaks for traders to set up businesses in Hong Kong, driving demand for shipping and maritime services, Chief Executive John Lee announced in his annual policy address on Wednesday. The necessary legislative amendments will be made in the first half of next year, Lee said.

The measure is designed to attract global trading houses to set up or expand in the city, at a time when Singapore has become the preferred ...