Hong Kong Financial Secretary Paul Chan said today (16th) that there will be no further reduction in stamp duty on stock transaction unless external conditions undermine Hong Kong's competitiveness.
He also believed that the current stamp duty level is appropriate in terms of trading volume and competitiveness. New sectors such as real estate investment trusts (REITs) and exchange traded funds (ETFs) will be treated more leniently, but authorities will adhere to the principle of 'collecting what is due' and remain mindful of public sentiment.
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