BEIJING, Jan. 25 Xinhua website reported Sing Tao Daily in Hong Kong, the Hong Kong General Chamber of Commerce survey found that 45% of respondents expect economic growth this year of 3% -5%.
Chamber of Commerce Hong Kong's economic outlook for this year's survey showed that 45% of the respondents expect economic growth this year between 3% to 5%. In addition, 42% of people expected inflation rate of 2% to 4%.
half of the respondents think that the competitiveness of Hong Kong was flat over the past year, 63% of people expected, competitiveness in the next 3 to 5 years will not improve. Nearly 74% of the respondents think the lack of long-term planning of Hong Kong Special Administrative Region Government; about 72% thought that Hong Kong is facing competition from other growing economies, while more than 78% believe that the high cost of doing business and regulatory increase.
respondents believe that Hong Kong is facing the biggest challenges include the lack of long-term plans, the high cost of doing business, as well as increased competition from rivals.
Chamber of Commerce recommends that the Government should adopt tax reforms to improve the business environment, released next month's Budget to improve the business environment, tax concessions and enhance competitiveness, including the profits tax from 16.5% to 15%, and suggested that the first 50 million small business taxable income only have to pay a special tax rate of 10%.
the same time, the Government set up an independent committee to review the Hong Kong tax system, such as adding group loss relief and relaxation of foreign partner's interest may be tax deductible. Chamber of Commerce called on the government make good use of the existing excess reserves, but also refers to solve the environmental pollution is a priority.
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