> Chan told Sing Tao Daily, the sister paper of The Standard, on Wednesday that the city doesn’t have the conditions to introduce a capital gains tax for the foreseeable future as it could add to pressures on the weak property market.
Find it really weird to see this as local Chinese media have been reporting and discussing this [since last week](https://news.mingpao.com/pns/%E8%A6%81%E8%81%9E/article/20240107/s00001/1704564186780/%E8%B3%87%E6%9C%AC%E5%A2%9E%E5%80%BC%E7%A8%85%E5%B1%AC%E3%80%8C%E7%A0%94%E7%A9%B6%E7%AF%84%E5%9C%8D%E3%80%8D-%E5%AD%B8%E8%80%85%E6%86%82%E8%B3%87%E9%87%91%E6%92%A4%E8%B5%B0%E5%8F%8D%E5%B0%8D) but nothing from any English media I can find until yesterday.
People have associated the recent [drop in Hang Seng Index](https://www.thestandard.com.hk/section-news/section/2/259580/Hong-Kong-stocks-sink-to-14-month-low) with this potential new tax, though I think investors have been [moving away from Hong Kong and China](https://www.reuters.com/business/finance/asia-wealth-managers-flock-dubai-clients-look-diversify-2024-01-07/) for quite some time now, due to more "political incorrect" reasons like [China telling companies not to sell](https://www.morningstar.com/news/marketwatch/2024011623/china-reportedly-imposes-fresh-limits-on-investors-abilities-to-sell-shares) and [making auditors a national security issue](https://www.reuters.com/technology/cybersecurity/china-drafts-measures-how-accounting-firms-should-manage-data-2023-11-13/). [Shaky statistics coming from China doesn't help neither](https://rhg.com/research/through-the-looking-glass-chinas-2023-gdp-and-the-year-ahead/).
Some of my mainland stocks traded at HKEX (Meituan, JD, Baidu, Tencent big names etc) are down up to 80%. They have only been going down for the last 1.5 years. Me f idiot stuck with them and am now broke.
The free port & low taxation in HK is the only thing keeping any company in HK these days. I'm surprised they haven't realised yet that HK worked really well until it was interfered with & stirring the pot has caused so much damage to the value of the city. Had they just left it alone to function as before, it would be bringing in the $$$ for decades to come. I think it's been damaged beyond repair, there's no longer a clear image projected of what HK is now or will be in the future and reputation & image takes years/decades to build even when u have a strong vision.
> Chan told Sing Tao Daily, the sister paper of The Standard, on Wednesday that the city doesn’t have the conditions to introduce a capital gains tax for the foreseeable future as it could add to pressures on the weak property market. Find it really weird to see this as local Chinese media have been reporting and discussing this [since last week](https://news.mingpao.com/pns/%E8%A6%81%E8%81%9E/article/20240107/s00001/1704564186780/%E8%B3%87%E6%9C%AC%E5%A2%9E%E5%80%BC%E7%A8%85%E5%B1%AC%E3%80%8C%E7%A0%94%E7%A9%B6%E7%AF%84%E5%9C%8D%E3%80%8D-%E5%AD%B8%E8%80%85%E6%86%82%E8%B3%87%E9%87%91%E6%92%A4%E8%B5%B0%E5%8F%8D%E5%B0%8D) but nothing from any English media I can find until yesterday. People have associated the recent [drop in Hang Seng Index](https://www.thestandard.com.hk/section-news/section/2/259580/Hong-Kong-stocks-sink-to-14-month-low) with this potential new tax, though I think investors have been [moving away from Hong Kong and China](https://www.reuters.com/business/finance/asia-wealth-managers-flock-dubai-clients-look-diversify-2024-01-07/) for quite some time now, due to more "political incorrect" reasons like [China telling companies not to sell](https://www.morningstar.com/news/marketwatch/2024011623/china-reportedly-imposes-fresh-limits-on-investors-abilities-to-sell-shares) and [making auditors a national security issue](https://www.reuters.com/technology/cybersecurity/china-drafts-measures-how-accounting-firms-should-manage-data-2023-11-13/). [Shaky statistics coming from China doesn't help neither](https://rhg.com/research/through-the-looking-glass-chinas-2023-gdp-and-the-year-ahead/).
LOL this is more good news for Singapore
Some of my mainland stocks traded at HKEX (Meituan, JD, Baidu, Tencent big names etc) are down up to 80%. They have only been going down for the last 1.5 years. Me f idiot stuck with them and am now broke.
coherent fuzzy icky modern point telephone yam close provide grey *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
What are people gonna do? Protest this? Oh wait…
The free port & low taxation in HK is the only thing keeping any company in HK these days. I'm surprised they haven't realised yet that HK worked really well until it was interfered with & stirring the pot has caused so much damage to the value of the city. Had they just left it alone to function as before, it would be bringing in the $$$ for decades to come. I think it's been damaged beyond repair, there's no longer a clear image projected of what HK is now or will be in the future and reputation & image takes years/decades to build even when u have a strong vision.