Hong Kong introduces new Corporate Treasury Centre policy to promote excellence in managing financial risks under the ‘New Normal’ (2nd edition)

2nd edition (updated in Mar 2016)

Asia has gained increased importance on the world stage as international companies look to establish footprints in the region, and in more recent times, Asian companies, in particular Chinese State-owned Enterprises (SOEs) and Privately-owned Enterprises (POEs), expand their businesses overseas. Mainland SOEs and POEs are particularly encouraged by the Chinese Central Government’s policies of “One Belt, One Road”, further liberalisation of capital account, and internationalisation of the RMB.

Corporate treasury plays an extremely important role to support these expansions, and in particular, the use of a corporate treasury centre (“CTC”), if designed and implemented properly, could bring great benefits to corporates. Hong Kong has been one of the premier locations of choice for regional CTCs; however, Hong Kong’s attractiveness in recent years has been hindered by certain unintended taxation consequences, but there is good news on the way with the recent changes announced in the 2015/16 budget as well as formal submission of the CTC policy to Legco in Dec 2015.

Click here for the first edition: Hong Kong drives to become a corporate treasury hub with new polices and incentives

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