LegCo Meeting to Consider Inland Revenue (Amendment) (Automatic Exchange of Information) Bill 2026 on June 17

LegCo to consider Inland Revenue (Amendment) (Automatic Exchange of Information) Bill 2026

The following is issued on behalf of the Legislative Council Secretariat:

The Legislative Council (LegCo) will hold a meeting on Wednesday (June 17) at 11am in the Chamber of the LegCo Complex. During the meeting, the Second Reading debate on the Inland Revenue (Amendment) (Automatic Exchange of Information) Bill 2026 will resume. If the Bill is supported by Members and receive its Second Reading, it will stand committed to the committee of the whole Council. After the committee of the whole Council has completed consideration of the Bill and its report is adopted by the Council, the Bill will be set down for the Third Reading.

Meanwhile, the Banking Legislation (Miscellaneous Amendments) Bill 2026 will be introduced into the Council for the First Reading and the Second Reading. The Second Reading debate on the Bill will be adjourned.

Mr Jimmy Ng will move a motion on "Nurturing internationalized vocational and professional talents to drive innovation and technology development". The motion is set out in Appendix 1. Mr Ken Lee, Mr Cheung Pui-kong and Mr Ng Wun-kit will move separate amendments to Mr Ng's motion.

Source: HKSAR Government Press Releases

On other Members' motions, Ms Nixie Lam, Mr Tang Ka-piu, Mr Lam Chun-sing and Dr Chan Han-pan will move four separate proposed resolutions under section 34(4) of the Interpretation and General Clauses Ordinance to extend the period for amending subsidiary legislations. The proposed resolutions are set out in Appendices 2 to 5.

Source: HKSAR Government Press Releases

Source: HKSAR Government Press Releases

Source: HKSAR Government Press Releases

Source: HKSAR Government Press Releases

During the meeting, Mr Ng will present the "Finance Committee Report on the examination of the Estimates of Expenditure 2026-2027" and address the Council.

Members will also ask the Government 22 questions on various policy areas, six of which require oral replies.

The agenda of the above meeting is available on the LegCo Website (www.legco.gov.hk). Members of the public can watch or listen to the meeting via the "Webcast" system on the LegCo Website. To observe the proceedings of the meeting at the LegCo Complex, members of the public may call 3919 3399 during office hours to reserve seats.

The Legislative Council, Photo source: reference image

Hong Kong rises to rank second globally in World Competitiveness Yearbook 2026

In the latest World Competitiveness Yearbook (WCY) 2026 published by the International Institute for Management Development, Hong Kong's global competitiveness has risen for the third consecutive year, up one place to second globally this year, the highest since 2019.

Among the four competitiveness factors in the WCY 2026, Hong Kong ranks second globally in "Government efficiency" and third in "Business efficiency". Hong Kong ranks eighth and 11th globally in "Infrastructure" and "Economic performance" respectively. As regards the various competitiveness sub-factors, Hong Kong tops the rankings in "Tax policy" and "Business legislation"; ranks second globally in "Finance"; third globally in "International trade", "International investment", "Management practices" and "Education"; and fourth globally in "Public finance" and "Basic infrastructure".

A Government spokesperson said today (June 18), "The WCY 2026 reaffirms Hong Kong as one of the most competitive economies in the world, and notes that Hong Kong's rise to second globally sustains the strong upward trajectory from 2024 and 2025. In the competitiveness factor 'Government efficiency' Hong Kong continues to rank second globally, reflecting the Hong Kong Special Administrative Region (HKSAR) Government's ongoing efforts to promote free and open, stable, predictable and business-friendly economic policies, as well as the international community's trust in Hong Kong's legal and regulatory environment. Hong Kong's 'Business efficiency' is ranked third globally, reflecting the strong support for industry development rendered by our robust financial ecosystem, as well as the seamless alignment of the city's business practices and environment with international best standards."

The spokesperson added, "Amid rapidly evolving geopolitical dynamics, Hong Kong, with its close connectivity to both the Chinese Mainland and the world under the 'one country, two systems' principle, and its sound institutions, open markets and sustained investments in innovation, has become a 'value hub' that offers both security and growth opportunities. In fact, Hong Kong continues to excel in various international rankings including those for economy, finance, and talent. The International Monetary Fund has also given positive recognition to Hong Kong in recent months, and major credit rating agencies have successively reaffirmed Hong Kong's credit ratings and 'stable' outlook. All these echo the WCY 2026 results.

"Currently, Hong Kong is formulating at full speed its first Five-Year Plan to proactively align with the National 15th Five-Year Plan. With the staunch support of our country, the HKSAR Government will work together with all sectors of society to strengthen our role and function as a 'super connector' and 'super value-adder', with a view to better integrating into and serving the overall national development, achieving our own high-quality development, creating more new room for development for our people and businesses, as well as opening up new opportunities for global investors and enterprises."

Source: AI-found images