HONG KONG -- Hong Kong’s leader announced a cut in liquor taxes on Wednesday, October 16, 2024, as the Asian financial hub hopes to revive its reputation as a travel destination with a vibrant nightlife and dining scene.After fulfilling Beijing’s long-standing imperative to enact a homegrown national security law, Chief Executive John Lee now faces challenges with economic competitiveness against regional rivals like Singapore, Japan and mainland Chinese metropolises.
Since that law took effect, many of the city's leading activists have been prosecuted, forced into self-exile or silenced. The Hong Kong government said the security laws are necessary for the city’s stability.But in the wake of these dramatic political changes, many middle-class families and young professionals have emigrated to Britain, Canada, Taiwan and the United States.