HONG KONG — Hong Kong’s leader announced a cut to liquor tax Wednesday as the Asian financial hub hopes to revive its reputation as a travel destination with a vibrant nightlife and dining scene., Chief Executive John Lee now faces challenges with economic competitiveness against regional rivals like Singapore, Japan, and mainland Chinese metropolises.during the COVID-19 pandemic have dampened local demand.
The government previously told lawmakers that after wine duties were abolished in 2008, imports jumped 80% in a year and the city welcomed hundreds of new wine-related businesses.similar national legislation Lee also pledged to make the city into an international hub for post-secondary education by offering scholarships to overseas students, and promised moves to develop the “silver economy” and “low-altitude economy,” Beijing's buzzwords for markets like elderly care, private aviation and drones.
Lee said owners of subsidized flats must ensure each home has windows, an individual toilet and a minimum floor area of 8 square meters after a grace period.
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