Hong Kong Unveils Action Plan to Develop Corporate Treasury Centers

Hong Kong’s Financial Services and the Treasury Bureau (FSTB) Secretary Christopher Hui announced the Hong Kong Corporate Treasury Centre Development Action Plan at the Corporate Treasury Centre Forum on June 9. According to Odaily, the plan sets out targeted strategies to strengthen Hong Kong’s position as a key hub for multinational corporate treasury centers, promote the city as a primary base for such centers, and reinforce its role as a platform for “bringing in” and “going out.” The action plan was jointly prepared by the FSTB, the Inland Revenue Department, the Hong Kong Monetary Authority, and Invest Hong Kong. It outlines two main objectives: attracting more multinational companies to establish corporate treasury centers in Hong Kong, and supporting corporate treasury centers already operating in the city to expand and make fuller use of Hong Kong’s financial ecosystem.