Liquor imports jump 40pc following duty reduction, says Paul Chan

Financial Secretary Paul Chan Mo-po said an impressive 40 percent surge in imported liquors has been recorded during the first four months after the duty reduction was implemented last October.

The duty rate for liquor with an import price over HK$200 was slashed from 100 percent to 10 percent for the portion exceeding HK$200, while the tax for liquor priced at HK$200 or below remains unchanged. 

The financial chief said on Wednesday that Hong Kong is opening its doors while other economies are imposing trade barriers.

Chan also stated that Hong Kong is actively expanding into new markets, including the Association of Southeast Asian Nations (ASEAN) and Middle Eastern regions, which boast abundant resources and untapped potential.

Meanwhile, Chan highlighted that the city welcomed over 16 million visitors in the first four months of this year, marking a 10 percent year-on-year increase, with international arrivals surging by 17 percent.

He added that the government remains committed to attracting high-spending tourists and encourages overseas businesses to leverage Hong Kong as a "showroom" for new opportunities.