HONG KONG, Nov. 1 (Xinhua) -- China's Hong Kong Special Administrative Region (HKSAR) Chief Executive Lam Cheng Yuet-ngor said Wednesday that promoting high-value-added aviation services including aircraft leasing is one of the key areas that the HKSAR government is pressing ahead with.
Speaking at the inaugural ceremony of the Hong Kong Aircraft Leasing and Aviation Finance Association, Lam said that the inauguration was a major milestone which signifies the development of a new vibrant business in Hong Kong.
As a global financial center and international aviation hub, Lam said, Hong Kong has already possessed favorable conditions necessary to thrive as an aviation financing hub in Asia, including free economy, the rule of law, robust financial services infrastructure, excellent aviation infrastructure and a strong pool of talents in both financial services and aviation sectors.
Under the "one country, two systems" principle, Hong Kong enjoys excellent access to the vast mainland market, Lam added.
"To take forward the initiative of developing aircraft leasing business in Hong Kong, we have amended the relevant legislation to provide a dedicated tax regime," she said, noting that profits tax concessions are given to qualifying aircraft lessors and qualifying aircraft leasing managers.
Lam said that the government, however, can not act alone to build up the aircraft leasing and financing sector, and she is pleased to witness the inauguration which helps put Hong Kong in the global market of aircraft leasing and related businesses.
