CIMA recommendations to bolster Hong Kong economic future

Core Insights - CIMA has proposed policy recommendations to enhance Hong Kong's status as a leading financial center and stimulate long-term economic growth [1][2] - The recommendations focus on leveraging Hong Kong's position as an international gateway and attracting businesses and finance professionals [2][5] Policy Recommendations - Development of policies that highlight Hong Kong's financial strengths and its role in global markets [2] - A strategic approach to attract local, regional, and international businesses and finance professionals [2] - Proposal of an Industrial Strategy to diversify the economy across various sectors, including business, education, technology, and infrastructure [2] Regulatory Environment - Creation of a "proportionate and predictable" regulatory environment to assist businesses in strategic planning and resource allocation [3] - Recommendations for the Hong Kong Government to lead in establishing regulations to prevent "greenwashing" and enhance market integrity, thereby increasing public trust [3][4] Sustainability and Education - Adoption of the new HKFRS Sustainability Disclosure Standards to promote responsible business practices and equitable economic growth [4] - Expansion of the Continuing Education Fund (CEF) to include international professional qualifications accessible through digital platforms [4] Talent Attraction - Promotion of Hong Kong as an attractive location for living and working, emphasizing career advancement, job stability, and a supportive tax environment [5] Economic Outlook - AICPA and CIMA's third quarter Economic Outlook Survey indicates a slight increase in optimism among US business leaders, with 34% expressing a positive outlook, up from 27% in the previous quarter [6]