'We are now embarking on a new chapter for further prosperity and this is a new phase for Hong Kong,' says John Lee.
leader John Lee will on Wednesday, October 19, deliver his inaugural policy address that is expected to focus on reviving the city’s credentials as an international business hub and on housing after extended COVID lockdowns and political upheaval.
COVID-19 restrictions have hit the China-ruled city hard since early 2020, battering shops and restaurants, bringing tourism to a halt, and stoking an exodus of expatriates. “Hong Kong has emerged from chaos to order, and now we’re moving from order to prosperity,” added Lee, referring to pro-democracy demonstrations in 2019.
In a bid to retain foreign workers, Lee is expected to announce a stamp duty refund for foreigners who have owned property in Hong Kong for more than three years and who agree to permanent residency, according to the South China Morning Post.
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