CPA Australia has urged the Hong Kong government to enact further reforms in the upcoming Policy Address to strengthen the city’s position as an international financial hub. The accounting body proposed measures in five areas: reinforcing financial leadership, developing an international innovation and technology centre, promoting ESG initiatives, attracting and retaining talent, and boosting the domestic economy. Cliff Ip, Divisional President of CPA Australia in Greater China, said Hong Kong should capitalise on its strengths to continue attracting foreign investment. Recommendations include expanding assets under the Capital Investment Entrant Scheme (CIES) to encompass private credit, single-family office investments, and art and collectibles. CPA Australia also advocated for speeding up a re-domiciliation regime, diversifying exchange-traded funds, unifying Web 3 and virtual asset oversight, and assisting SMEs in adopting artificial intelligence solutions.
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