Hong Kong will cut taxes on home purchases and stock trades, part of efforts to revive its credentials as a financial hub and boost a struggling property market.
The new measures, he added, are being made in light of an"increasing housing supply in Hong Kong in the coming years." The local bourse will also lower some market-data fees later this year, and roll out new listing rules next year for research-and-development-focused companies. It will also consider reducing minimum trading spreads.