HK lawmakers: 5-year tax break too short to lure major firms

Hong Kong lawmakers support proposed tax incentives for large innovative companies but argue the five-year concession period is insufficient to attract major firms to establish headquarters. The policy, announced by Chief Executive John Lee, offers preferential profits tax rates of 5% or 8.25%, half the standard rate. The debate signals potential adjustments to the incentive design, which could affect Hong Kong's competitiveness in attracting corporate investment.