Hong Kong legislator Wu Jiezhuang: Oppose proposals to impose stamp duty on virtual assets and other tax increases

National Committee member of the Chinese People's Political Consultative Conference and Hong Kong Legislative Councilor Wu Jiezhuang posted on X platform, expressing that this morning he met with Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan Mo-po, and Undersecretary Edward Yau Tang-wah. He expressed his hope that the major principles of the budget proposal should be zero tax increase, minimal fees, and increased momentum. He opposes various proposed tax increases in society, including capital gains tax, departure tax, and virtual asset stamp duty. He believes that it is necessary to enhance the development drive of various industries by removing barriers and vigorously developing Web3 industry.