Accountants urge bold steps to revive HKLocal | 14 Jan 2020 5:47 pm
The Association of Chartered Certified Accountants said today that government will need to introduce "bold and innovative" measures to lift the economy and revive confidence among locals and overseas markets regarding Hong Kong's competitiveness, RTHK reports.
The chairman of the association's Hong Kong office, Kenneth Wong, said he had heard that some multinational firms are considering moving away from the city.
"People are really choosing not to come to Hong Kong if they're not from here. If for meetings they'll choose other ways, like video conferences or other channels," he said.
He said that a survey they conducted showed that the association members expect poor economic conditions in the year ahead.
The accounting body said most of the 200 members it polled thought the seven months of anti-government protests have hurt the SAR's competitiveness.
Respondents to the survey also said they think the Sino-US trade tensions have negatively impacted their outlook for the Hong Kong economy.