January 13, 2020 / 5:18 AM / 15 days ago

Hong Kong considers 'competitive' tax measures for private equity funds: finance secretary

FILE PHOTO: Hong Kong Financial Secretary Paul Chan speaks during a ceremony marking the first day of trade after Lunar New Year at the Hong Kong stock exchange in Hong Kong, China February 8, 2019. REUTERS/Tyrone Siu

HONG KONG (Reuters) - Hong Kong finance secretary Paul Chan said on Monday the government was considering a more “competitive” tax arrangement to attract private equity funds to the city and further relief measures to prop up an economy facing recession.

Speaking at a regional finance forum, Paul Chan did not offer further details on the measures.

Chan said Hong Kong’s banking system was running smoothly and had ample liquidity despite the Asian financial hub facing “unprecedented” turbulence, with pro-democracy protests having roiled the city for more than six months.

Reporting by Noah Sin, writing by Marius Zaharia; Editing by Himani Sarkar

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