New Markets for HK's Future Development

The government finds new markets for the future development of Hong Kong, including "One Belt, One Road" which is a strategic initiative proposed by Chinese President Xi Jin-ping in 2013.

HKSAR government will keep raising the business sector and the community's awareness of the Belt and Road Initiative. By doing this, the government is going to cooperate with Hong Kong Trade Development Council (HKTDC) to organise the inaugural Belt and Road Summit where representatives of key officials, international organizations can engage and discuss the future development of Hong Kong in May.

"One Belt, One Road" refers to the Silk Road Economic Belt and 21st Century Maritime Silk Road which is a long-term development strategy launched by the Chinese government with the intention of promoting economic cooperation among countries.

The government also will continue the discussion with the Central Government as well as the China-led Asian Infrastructure Investment Bank (AIIB) which was officially launched last month, supporting the work of AIIB.

A closer economic partnership arrangement with Macao should be introduced this year as well.

Relating to the aviation and maritime centre and logistics, the three-runway system project is expected to complete in eight years. The system is expected to handle 100 million passengers and nine million tonnes of cargo annually in 2030.

A land of ten hectares in Tuen Mun West is reserved for logistic purposes.

Owing to a double in E-commerce from $140 billion in 2008 to $280 billion in 2012, Hongkong Post will introduce self-collection lockers in the community for the public to collect their online purchases in the first half of 2016.

A "single window" is expected to be launched in 2018 to connect with governments' system and trade information platforms run by the private sector.   

The scope of tax deduction for capital expenditure incurred for the purchase of Intellectual Property rights will increase from the existing five categories to eight, which are layout-designs of integrated circuits, plant varieties and rights in performance.