Connect with us

Media OutReach

CPA Australia proposes policy ideas to support Hong Kong’s long-term competitiveness

Published

9 months ago

on

HONG KONG SAR – Media OutReach Newswire – 21 August 2025 – As Hong Kong continues to navigate global economic shifts and rapid technological transformation, CPA Australia has today submitted a series of recommendations to the Hong Kong Government for the Policy Address 2025 consultation.

As one of the world’s largest professional accounting bodies, CPA Australia has outlined proposed measures across five key areas:

  • Reinforcing Hong Kong’s role as an international financial centre
  • Developing Hong Kong into an international innovation and technology (I&T) hub
  • Promoting environmental, social and governance (ESG) and the green economy
  • Diversifying the economy
  • Developing, attracting and retaining talent.

Ms Karina Wong, Divisional President of CPA Australia in Greater China 2025, said: “Amid the uncertainties created by trade frictions with major economies, Hong Kong has demonstrated its unique advantages as a strategic gateway connecting mainland China and the world. We need to amplify our competitiveness to secure the city’s long-term economic vitality, for example, the free port status and unrivalled business environment.”

CPA Australia recommends the HKSAR Government considers introducing a Qualified Refundable Tax Credit (QRTC) scheme for multi-national enterprises in the maritime services and commodity trading sectors. A QRTC provides a more flexible and effective incentive structure that can help to boost these sectors.

“A QRTC would allow Hong Kong to better compete for multinational investment and reinforce its position as a premier international trade centre and shipping centre,” Ms Wong said. “We also propose expanding the scope of the half-rate tax concessionary regime for commodity trading to include the captive commodities traders serving group companies outside Hong Kong and include the financial commodity transactions, such as derivatives trading.”

Low-altitude economy is another area that CPA Australia supports to diversify the economy, for its potential to transform logistics, mobility, and urban planning.

Ms Wong added: “Hong Kong can lead in low-altitude innovation by establishing demonstration zones, collaborating with the Greater Bay Area on cross-border channels, and attracting global talent to this emerging sector. With strong research capabilities and a growing commitment to innovation and technology implementation – evidenced by the establishment of government-led Regulatory Sandbox pilot projects, Hong Kong is well-positioned to translate innovation into practical applications.”

An efficient and effective government process to deliver public services, and a green environment for sustainable development are crucial factors to do business, as well as to attract enterprises and investments to Hong Kong. Therefore, CPA Australia proposes a suite of initiatives including the promotion of a robust e-government framework.

Mr Cyrus Cheung, Deputy Divisional President of CPA Australia in Greater China 2025 said: “We suggest the Government considers modernising operations and implements a ‘tell us once’ compliance model for individual and business data access in a secure and convenient manner. For example, we propose introducing legislation to allow data sharing across relevant and approved government agencies, and to establish an integrated platform that enhances data management across governmental departments. To simplify the processes of public services, we also suggest the Government reduces its reliance on in-person authentication where appropriate, and consolidates government services onto a single platform, such as iAM Smart, which allows online authentication across different services.”

Mr Cheung also emphasised the importance of sustainable development in shaping Hong Kong’s future. He called for better alignment of the Hong Kong Taxonomy for Sustainable Finance with the international standards to attract investment in green projects.

“Energy policy is core in our sustainability goals. The taxonomy should reflect the role of various forms of low-carbon energy in supporting Hong Kong’s transition to a net-zero economy,” he said. “We also encourage the government to develop a standardised carbon trading framework and explore the Carbon Connect initiative to strengthen Hong Kong’s leadership position in green finance.”

Hong Kong’s sound financial system and free flow of capital continue to underpin strong investment inflows, and the city is poised to return to its position as the world’s top IPO market in 2025, Mr Kelvin Leung, Deputy Divisional President of CPA Australia in Greater China 2025, said. “Despite global uncertainties and trade tensions, Hong Kong’s capital market remained resilient, drawing more family offices to setup in the city and reinforcing its role as a preferred venue for fund raisings.

“Investors choose Hong Kong for investment and wealth management because we are globally connected, rule-of-law based and responsive to market needs. We should be more proactive in promoting Hong Kong as a dual listing destination for overseas companies, and we encourage the Government and relevant regulators to explore the feasibility of an “IPO Connect” mechanism, to meet growing mainland investor demand for access to global assets.”

To increase private market liquidity, CPA Australia suggests piloting an intermittent trading facility for private companies in a controlled environment. “This would offer growth-stage companies a stepping stone toward future public listings, supported by clear eligibility, proportionate disclosure and robust settlement safeguards,,” Leung said.

Mr Leung also highlighted opportunities in digital assets, “It is a notable step for Hong Kong to launch the ‘LEAP’ framework to develop a trusted and innovative digital-assets ecosystem. We welcome the Government’s move to promote the responsible expansion of stablecoins under a fit-for-purpose regulatory regime. The Government should also consider a clear roadmap for real-world asset (RWA) tokenisation that balances innovation with strong investor protection.”

CPA Australia has also proposed recommendations on strengthening SME cybersecurity such as to launch a CyberSafe SME Subsidy Programme and introduce a CyberSafe HK certification. We also suggest initiatives such as increasing maternity and paternity leave similar to other developed economies, to attract and retain talent.

Hashtag: #CPAAustralia

The issuer is solely responsible for the content of this announcement.

About CPA Australia

CPA Australia is one of the largest professional accounting bodies in the world, with nearly 175,000 members in over 100 countries and regions, including more than 22,500 members in Greater China. CPA Australia is celebrating its 70th anniversary in Hong Kong this year. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on issues affecting the accounting profession and the public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at

Related Topics:

Media OutReach

Hong Kong Company Formations Surge 40.5% in 2025, Outpacing Regional Competitors

Published

14 hours ago

on

15/05/2026

By

Air Corporate data reveals 9 in 10 founders incorporated in Hong Kong do so remotely, driven by a 20% surge in Middle Eastern entrepreneurs seeking cost-effective operational alternatives to Dubai.

HONG KONG SAR – Media OutReach Newswire – 15 May 2026 – Air Corporate registered a 40.5% increase in Hong Kong incorporations in 2025, with the first quarter of 2026 already up 48% year-over-year. This data indicates that Hong Kong is reasserting itself as the leading Asian jurisdiction for company formation, fueled by a new wave of remote founders from the Middle East, North Africa, and Europe.

The prevailing narrative over the past five years suggested that Singapore was eclipsing Hong Kong; however, recent incorporation volumes challenge this. According to city-wide official figures cited by Vivian, Founder of Air Corporate, approximately 195,000 companies were registered in Hong Kong in 2025, compared to around 77,000 in Singapore.

“There was a lot of fuss about Singapore taking over Hong Kong as preferred jurisdiction over the last few years, but for 2025 alone, around 195,000 companies were formed in HK, vs around 77,000 for Singapore,” said Vivian. While city-wide registrations rose roughly 35% in 2025, incorporations at Air Corporate specifically grew by 40.5%. Vivian added, “With a 35% increase in the number of companies registered in 2025, Hong Kong is definitely back in the game as the top jurisdiction to start a company.”

The reality of Hong Kong company formation is increasingly global, lean, and founder-led. Nine in ten founders incorporated in Hong Kong with Air Corporate do not live there.

Key demographic and operational insights from Air Corporate’s client base include:

  • Approximately 90% of founders operate remotely from abroad, while 10% or less are based in Hong Kong.
  • Entrepreneurs aged 35 to 44 represent the largest age cohort at 38%, demonstrating that Hong Kong attracts founders in their prime career years rather than just younger digital nomads.
  • Serial entrepreneurs make up 60% of Air Corporate’s client mix, utilizing Hong Kong as an operational base for multiple companies, while first-time founders account for the remaining 40%.
  • A total of 89% of new companies are launched by solo founders (58%) or small teams of two to five individuals (31%).
  • Mainland China, Hong Kong, Turkey, India, the UAE, Australia, France, and Morocco rank among the top source markets for these founders.

Furthermore, 73% of new Hong Kong incorporations are directly tied to physical goods trade with China. This consists of e-commerce and dropshipping businesses (38%) and the trading of goods (35%). The recovery of in-person trade flows, including events, such as the Canton Fair and various industrial fairs, is pulling foreign founders back into the Greater China orbit and establishing Hong Kong as the natural entry point and financial layer over the world’s largest manufacturing base.

Air Corporate’s data recorded a 20% year-over-year growth in founders originating from the Middle East. This shift highlights a reverse migration where founders previously incorporated in Dubai are now choosing Hong Kong. Based on Vivian’s observations, founders often arrive in Dubai expecting fast incorporation and low costs, but discover that incorporation and maintenance are significantly more expensive than in Hong Kong, and banking remains difficult. Consequently, many founders move to Hong Kong after 12 to 24 months in the UAE, a trend accelerated by the Hong Kong government’s strategic outreach to the region.

For lean, remote-first businesses, speed-to-market is a critical factor. A founder located anywhere in the world can incorporate in Hong Kong and open a working bank account in approximately 7 days using digital banking partners. Currently, 90% of Air Corporate’s clients utilize these digital banking partners.

“Hong Kong and Singapore are the only places in Asia where you can set up your company, get a corporate account, and be in business in less than a week,” concluded Vivian.

Air Corporate is a service provider facilitating company formation and incorporation in Hong Kong for serial entrepreneurs, first-time founders, and remote-first business owners operating globally.

Media Inquiries
To learn more about Hong Kong company formation, visit Air Corporate’s website or contact their team directly.

Hashtag: #AirCorporate

The issuer is solely responsible for the content of this announcement.

Continue Reading

Media OutReach

Natural Diamonds Sparkle on The Red Carpet at The 2026 Met Gala Celebrating “Costume Art”

Published

14 hours ago

on

15/05/2026

By

Today’s biggest stars express individuality and confidence with natural diamonds

NEW YORK, US – Media OutReach Newswire – 15 May 2026 – The 2026 Met Gala celebrating “Costume Art” took place May 4th at the Metropolitan Museum of Art in New York City, bringing together leading figures from across the globe for an unforgettable evening. These tastemakers showcased the most classic, refined and distinctive diamond jewelry looks of the season. Below, A Diamond is Forever highlights the standout trends from the event.

Desert diamonds

Desert diamonds emerged as a striking throughline on the Met Gala carpet, with a range of hues in distinctive settings taking focus.

Rihanna led the trend in a pair of exceptionally rare old Moghul Golconda fancy brown-yellow diamond earrings by Glenn Spiro, featuring two pear-shaped natural diamonds totaling 51.9 carats. Doja Cat offset her all nude look with a pair of large Leviev Diamonds floral-shaped earrings while Paloma Elsesser made a statement in a 29.5-carat diamond necklace by Bernard James, centered around a 15-carat fancy light yellow pear-shaped natural diamond. Cara Delevingne wore a De Beers London Forces of Nature High Jewelry ring, featuring marquise yellow diamonds set as eyes, while Emma Chamberlain opted for yellow and white diamond earrings by Chopard, underscoring the continued allure of warm diamond hues.

Magnificent Diamond Earrings

A wide variety of captivating silhouettes defined the natural diamond earrings on the Met Gala carpet. Zoë Kravitz delivered a modern twist with oversized diamond flower earrings by Jessica McCormack. Chase Sui Wonders opted for Jean Schlumberger by Tiffany & Co. Sea Fan earrings, bringing an element of sculptural artistry to the look. Gracie Abrams selected gently dangling Chanel earrings, adding understated fluidity, while Connor Storrie selected simple hoop earrings from Tiffany & Co., reinforcing the clean and enduring appeal of natural diamonds.

Standout Diamond Moments

Natural diamonds appeared in personal, unconventional and eye-catching ways, offering moments of surprise and awe. Power couple Beyoncé and Jay-Z embodied this trend with Beyoncé wearing Chopard’s Queen of Kalahari necklace, named after the rare 342-carat diamond that provided 23 stones for Chopard’s Garden of Kalahari collection. Jay-Z contributed to the narrative with a vintage diamond brooch by Briony Raymond worn at the collar as an unexpected placement that underscored the piece’s versatility. Isha Ambani made the styling of diamonds an art form in itself, wearing her own diamond jewelry featuring approximately 150 carats of old mine-cut diamonds, including a three-strand necklace and chandelier earrings, while also incorporating diamonds sewn directly into the bodice of her sari to represent significant moments in her life.

Together, these looks highlighted a shift toward natural diamonds as vessels of personal expression, styled with intention, individuality, and a sense of the unexpected.

Hashtag: #MetGala #RedCarpet #ADiamondisForever #NaturalDiamonds #Diamonds





The issuer is solely responsible for the content of this announcement.

Continue Reading

Media OutReach

Turn Your Savings into a Front-Row Experience: HL Bank Singapore Offers Exclusive Passes to AsiaTop Music Festival 2026

Published

1 day ago

on

14/05/2026

By

The premier music festival will play host to 16 K-pop, regional and Malaysian stars including, in performance order: Day 1 – NexT1DE, Aina Abdul, Belle Sisoski, Win Metawin, NMIXX, WINNER, DAESUNG, KUN. Day 2 – Uriah See, Firdhaus, Butterbear, 82MAJOR, STAYC, CRAVITY, TWS, CxM

SINGAPORE – Media OutReach Newswire – 14 May 2026 – Your next major K-pop experience is just a savings goal away as HL Bank Singapore (“HLB Singapore”) bridges the gap between financial wellness and the front row. In an exclusive collaboration designed for the ultimate music enthusiast, the bank is offering fans the chance to secure a pair of sought-after AsiaTop Music Festival 2026 tickets, valued at up to RM1,098 (approx. S$355), simply by growing their wealth.

HL Bank Singapore is giving music fans the chance to redeem exclusive passes to the AsiaTop Music Festival 2026, featuring top Asian acts, through its iSavings Reward Campaign.

This unique initiative stems from the regional synergy between Hong Leong Bank (“HLB”) and Tencent Music Entertainment Group (JOOX and QQ Music). By aligning with Visit Malaysia Year and Visit Selangor Year 2026, HLB is transforming the traditional banking experience into a gateway for premium entertainment. Scheduled for 30 and 31 May 2026 at the iconic Sepang International Circuit, the festival promises a high-octane weekend featuring an elite lineup of Asian superstars, including the largest K-pop showcase in the ASEAN region.

Securing a spot at the heart of the action has been streamlined through the iSavings Reward Campaign, running from 9 May 2026 to 18 May 2026. To participate, fans first decide on their preferred festival experience, selecting either a pair of Standard Passes with a S$5,000 deposit or the high-energy, nearer-to-the-stars Rockzone Passes with a S$8,282 deposit for their chosen day.

Once a tier is selected, customers can register by depositing the qualifying funds into an iSavings account via FAST or Links transfer. To validate their entry, customers must include the specific Comment Code, such as PALLIR1 for Day 1 Rockzone, within the funds transfer description. The qualifying balance must be maintained within the account for a six-month (182 days) earmarked period.

With only 88 pairs of tickets available for this exclusive campaign, the stakes are high. Allocation is limited to 22 pairs per day for each ticket category and will be awarded strictly on a first-come, first-served basis. Fans are encouraged to act quickly to ensure their savings work as hard as they do while securing a premier seat at the musical event of the year.

For full terms & conditions, and further details, please visit: www.hlbank.com.sg/AsiaTop2026

Hashtag: #HLBankSingapore

The issuer is solely responsible for the content of this announcement.

HL Bank Singapore

HL Bank Singapore is the Singapore branch of Hong Leong Bank Berhad, a leading digital-centric Malaysia-based financial services institution with a rooted heritage in the country spanning over 120 years. Operating under a Full Bank Licence in Singapore, HL Bank offers a comprehensive range of financial services to our business, retail and high networth customers through our 4 core business segments – Business & Corporate Banking, Personal Financial Services, Private Wealth Management and Global Markets.

Continue Reading

Trending