CIMA Unveils Strategic Recommendations for Hong Kong

The Chartered Institute of Management Accountants (CIMA) has thrillingly stepped forward with a robust set of policy proposals aimed directly at Chief Executive John KC Lee, presenting a visionary roadmap for the future of Hong Kong.

These game-changing recommendations are specifically tailored to elevate Hong Kong’s status as a "premier" financial hub while igniting long-term economic dynamism.

Harnessing Hong Kong’s Global Potential

CIMA's strategic framework seeks to capitalize on Hong Kong’s unique position as an "international gateway". By fostering policies that highlight the city’s financial strengths, CIMA envisions a refreshed approach to attracting top-tier businesses and finance professionals from both local and global arenas.

Diversification for a Resilient Future

Underpinning this vision is CIMA’s proposed Industrial Strategy, which spans diverse sectors—from business and education to technology and infrastructure. This multi-faceted approach aims to diversify Hong Kong’s economy, empowering it to weather global shifts more effectively.

Creating a Predictable Regulatory Landscape

To ensure businesses can thrive, CIMA advocates for a "proportionate and predictable" regulatory environment. This will facilitate better strategic planning and resource allocation for enterprises operating in and out of Hong Kong.

Championing Sustainability and Market Integrity

In light of the global shift towards sustainability, CIMA urges the Hong Kong Government to lead the way in establishing firm regulations to combat "greenwashing" and bolster "market integrity". These measures are crucial for fostering public trust as the city embraces the new HKFRS Sustainability Disclosure Standards, promoting responsible business practices that contribute to fair economic growth.

Broadening Access to Professional Development

CIMA further proposed an expansion of the Continuing Education Fund (CEF) to include international professional qualifications, making them accessible via digital platforms even outside Hong Kong. This would pave the way for more opportunities in professional development.

Attracting Global Talent to Hong Kong

To enhance its appeal as a prime destination for skilled talent, CIMA recommends that Hong Kong market itself as an attractive place to live and work. Highlighting career advancement, job security, and a supportive tax regime can significantly entice international professionals.

Seizing the Moment for Transformation

CIMA’s chief executive, Andrew Harding, proclaims that "Hong Kong stands at a defining moment to reimagine its future as a dynamic, purpose-driven global city." With shifting global markets and technological advancements reshaping every sector, he emphasizes that this is a unique opportunity for the Government to position Hong Kong as a paragon of sustainable growth, digital innovation, and talent excellence.