Hong Kong Won’t Impose Departure Tax, Says Finance Chief (1)

Hong Kong Financial Secretary Paul Chan said he has no plans to impose a departure tax on residents, rejecting a proposal aimed at easing the government’s widening deficit.

“I don’t think it’s something good for Hong Kong,” said in an interview with Bloomberg TV at the World Economic Forum in Davos on Wednesday.

The pro-business Liberal Party made the proposal last week. Hong Kong residents are traveling to neighboring Shenzhen and other mainland cities in record numbers to shop and dine, sparking concern from the local retail and service sectors. Hong Kong leader John Lee previously said the government welcomes ...