AGP Executive Report
Last update: 10 hours agoWealth Hub Watch: Hong Kong has overtaken Switzerland as the world’s top booking centre for cross-border wealth, with cross-border wealth assets up 10.7% to US$2.95tn in 2025, helped by mainland inflows and a strong IPO pipeline. Policy & Transport: The Transport Department is studying how to expand driver-monitoring systems beyond franchised buses to other vehicle types, as lawmakers and road-safety groups push for wider coverage and infrastructure upgrades. Tax & Trade: Hong Kong unveiled new tax breaks to lure commodity traders and shipping firms, including an 8.25% profits tax rate for physical commodity trading and an optional 15% concessionary rate for qualifying shipping-related activities under BEPS 2.0. Markets: Risk-off sentiment hit Asia as US-Iran tensions and higher oil prices weighed on stocks; Hong Kong’s Hang Seng also slipped in the broader selloff. Ride-hailing Regulation: Uber says a survey of passengers and drivers finds the proposed 10,000 permit cap “very insufficient,” adding pressure ahead of the Legislative Council’s summer recess. China Auto Export Boom: China’s passenger car exports jumped 73% in May, with EV exports more than doubling, as higher fuel prices boost EV demand.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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