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Wealth and asset management industry welcomes HK budget initiatives, but wants progress on FO tax exemptions

Hong Kong’s wealth and asset management (WAM) industry has welcomed initiatives outlined in the government’s budget 2021/22 announcement last week but is asking authorities accelerate progress on amending tax exemption rules to benefit family offices. The budget speech delivered by Financial Secretary Paul Chan last Wednesday detailed measures in three areas targeting the promotion of Hong Kong as a WAM…

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