Hong Kong Chief Executive-elect Carrie Lam enters a news conference with Chief Secretary Matthew Cheung and Financial Secretary Paul Chan. Despite the promise of change, her team is made up mostly of familiar faces including Financial Secretary Paul Chan, Chief Secretary Matthew Cheung and Justice Secretary Rimsky Yuen. In an interview with China's official Xinhua news agency this week, Lam warned Hong Kong activists not to promote independence from China. At a time when Hong Kong's competitiveness, including in financial services, has been eroded by the likes of Singapore, Shanghai and London, Lam said a financial leaders forum would be formed to "push Hong Kong's financial sector to a new level". Hong Kong should "have the guts" to change tax regulations to enhance competitiveness, she said.

Source: Otago Daily Times June 21, 2017 09:00 UTC