The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Super-capitalism’s cashflow crisis

Hong Kong is facing a crisis - how to fund an increasing budget deficit at a time of almost unprecedented economic downturn.

Shenzhen: might lure more shoppers if Hong Kong
levies a sales tax

Unemployment, already high, is predicted to reach new records, economic growth forecasts are falling by the month, and none of the magic bullets that served in the past, such as windfalls from high land prices or exports of manufactures, is in the portfolio of measures available to solve the problem.

Now a high-powered government committee has caused controversy by proposing that it is time to consider new taxes. In particular, it suggests a 3% sales or consumption tax. For good measure the committee - the advisory committee on new broad-based taxes - adds several other taxation measures that might be considered. These include a departure tax of HK$18 (US$2.30)

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree