Earlier in the address, he announced the city will lower the stock trade stamp duty to 0.10% from 0.13%, which the tax was raised to at the height of the pandemic in 2021.
Hong Kong is slashing extra stamp duties for some homebuyers and reversing a pandemic-era increase in stock trade levies as officials seek to boost the beleaguered property sector and revive the city’s status as a financial hub.
Chief Executive John Lee detailed the measures Wednesday during the second policy address of his tenure, including a highly anticipated move to cut taxes for homebuyers who aren’t from the city as well as residents who already own property — the first change to housing curbs in the decade since they were introduced.
