Hong Kong import tax cut is intended to boost the liquor industry, stimulate tourism, and support the growth of sectors such as logistics and storage.

Hong Kong's leader pledged on Wednesday to reform and revive the economy and financial markets including slashing liquor duties, while seeking to improve dire living conditions for the city's poorest.

Hong Kong’s leader announced a cut in liquor taxes on Wednesday in a bid to revive the Asian financial hub’s reputation as a travel destination with a vibrant nightlife and dining scene. After fulfilling Beijing’s long-standing imperative to enact a homegrown national security law,