Hong Kong Needs Closer China Ties, Blackstone’s Leung Says
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Hong Kong should build a free-trade zone with the neighboring Chinese province of Guangdong to make it a more competitive commercial and financial center for the world’s second-biggest economy, a former top city official said.
By creating a zone that allows Hong Kong-based companies and individuals to freely access Chinese markets, the city would be able to better exploit lower tax rates and other advantages it has over Shanghai and mainland regions, Antony Leung, who served as finance secretary from 2001 to 2003 and is now greater China chairman for Blackstone Group LP, said yesterday at a Bloomberg seminar.