Hong Kong to become an aircraft leasing hub?

A task force set up in Hong Kong by the Economic Development Commission’s Transport Working Group appears set to recommend that the territory should aim to become an aircraft leasing hub.

Dewey Yee, who leads the Working Group on Transportation, said “Hong Kong’s integrated financial infrastructure is widely accepted by the global international financial and investment community.  Hong Kong is already the gateway to China, and to preserve and further boost its rank and achieve greater international acknowledgment and acceptability, the creation of a novel Premier Aerospace Finance Centre is the vital way forward.”

What this means in real terms, is that Mr. Yee believes Hong Kong must restructure its tax policy in a way that will allow it to compete with Ireland and Singapore in attracting lessors.