Hong Kong announces the Action Plan for the Development of Corporate Finance Center.

The Hong Kong Special Administrative Region government announced the "Hong Kong Enterprise Treasury Center Development Action Plan" on the 9th, proposing targeted strategies to strengthen Hong Kong's position as a major hub for multinational enterprise treasury centers, establishing Hong Kong as the main base for enterprise treasury centers, and further enhancing Hong Kong's platform function of "bringing in and going out." The action plan was jointly developed by the Financial Services and the Treasury Bureau, the Inland Revenue Department, the Hong Kong Monetary Authority, and Invest Hong Kong. The plan focuses on two main objectives: attracting more multinational corporations to set up enterprise treasury centers in Hong Kong and assisting existing enterprise treasury centers in Hong Kong to expand and fully utilize Hong Kong's complete financial ecosystem. The action plan explicitly encourages multinational corporations from around the world to concentrate on managing funds, allocating assets, and controlling risks in Hong Kong. Key measures include: tax system reforms, continuous expansion of a comprehensive network of double taxation avoidance agreements, targeted promotions, strengthening talent training and industry communication. The Financial Services and the Treasury Bureau's Secretary, Christopher Hui, stated that amidst the backdrop of building a strong financial country, promoting the development of enterprise treasury centers in Hong Kong is an important part of supporting the implementation of the "Fifteenth Five-Year Plan" and actively participating in the country's high-level opening-up. Hui said that the action plan outlines a clear path for the development of enterprise treasury center businesses in Hong Kong. The Financial Services and the Treasury Bureau will closely cooperate with relevant government departments and the industry to actively implement it. This plan will help companies leverage Hong Kong's unique financial advantages, making Hong Kong the "strategic base port" for mainland enterprises to go global and the ideal gateway for overseas companies to enter the mainland and even the Asian markets, while further promoting the development of Hong Kong's asset management industry.