Hong Kong authorities have more than doubled their fiscal deficit estimate to HK$100 billion for the 2024-25 financial year, prompting calls to prioritize cutting expenses and potentially raising taxes due to weaker revenue from a soft property market. The structural reliance on land sales has been cited as a significant issue, with experts warning of the impact of slow economic growth on the current fiscal model. Finance chief Paul Chan Mo-po noted a slump in government revenue from land sales, stamp duty, and corporate taxes, emphasizing the need to consider cost-saving measures and resource reallocation before resorting to tax increases or external financing.
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Women to Watch 2024: Ava Lee, Society | Analysis
Ava Lee, a seasoned advertising professional, has spearheaded the success of Society in Hong Kong since its inception in 2017, securing major clients like Pizza Hut and BMW and earning accolades like "The Best Newcomers" and "Integrated Agency of the Year." Through innovative media planning strategies and a focus on fostering a transparent and inclusive agency culture, Lee has driven sustained business growth and high levels of employee satisfaction, while also championing community engagement initiatives...
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