Stamp Duty Is a Key Government Cash-Cow, Will Not Budge Easily, Says HKEX CEO
Dou Shicong
DATE:  Oct 17 2017
/ SOURCE:  Yicai
Stamp Duty Is a Key Government Cash-Cow, Will Not Budge Easily, Says HKEX CEO Stamp Duty Is a Key Government Cash-Cow, Will Not Budge Easily, Says HKEX CEO

(Yicai Global) Oct. 17 -- In reply to rumors that Hong Kong Exchanges and Clearing Ltd. [HK:0388] (HKEX) wants to try to persuade the administrative region's government to lower the stamp duty on securities trades or cancel it outright, Charles Li, HKEX's chief executive, said the stamp duty is an important source of government revenues, no concrete talks on the subject are in the works, and the stamp duty will not easily change.

Promoting the financial services industry is the stated policy of Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor and HKEx is therefore mooting asking her government to lower the stamp tax on securities trades or cancel it, Bloomberg News reported. 

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Keywords:   Hong Kong Exchanges And Clearing Limited,Stamp Tax,Li Xiaojia