On Monday, Hong Kong’s finance secretary Paul Chan stated, the government is weighing its options for introducing a more “competitive” tax arrangement in order to attract private equity funds to the city.

The development comes in the wake of China’s handling of the pro-democracy protests which have battered the economy, which is now facing recession.

Paul Chan made these comments at a regional finance forum without providing any further details on the proposed measures.

He went on to add, Hong Kong’s banking system was has sufficient liquidity despite the “unprecedented” turbulence generated by the handling of pro-democracy protests which have roiled the city for more than six months.

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