Yau Ying-wah: Further Reduction of Liquor Tax Requires Careful Consideration

The Budget proposes to develop Hong Kong into an international convention and exhibition capital, allocating HK$100 million to pilot cooperation with international organizations to attract more exhibitions to Hong Kong.



Secretary for Commerce and Economic Development Yau Ying-wah stated that with the gradual increase in exhibition venues in Hong Kong, there are conditions to attract more exhibitors and tourists to spend money in Hong Kong.



Currently, the average spending per person per night for exhibitions in Hong Kong is about HK$7,000 to HK$8,000, which can boost the overall economy.



Yau suggested considering attracting large-scale machinery exhibitions, auto shows, yacht shows, or small private aircraft exhibitions, but no final decision has been made yet.



Meanwhile, regarding the government's decision not to adopt suggestions for further reducing liquor tax, Secretary Yau pointed out that after the reduction in liquor tax, the trade volume and value increased several times.



However, the main purpose of the measure is to boost the liquor trade, not to encourage public drinking.



The government needs to carefully consider all aspects, including balancing business needs and protecting public health.