China has eased visa rules for Shenzhen residents traveling to Hong Kong, allowing unlimited visits within a year instead of the previous one-trip-per-week limit.

Shenzhen residents will soon be able to make more frequent trips to Hong Kong under the resumption of a multiple-entry visa scheme, which was suspended in 2015 owing to concerns about overcrowding in the city and unlicensed cross-border trade.

Move benefiting Shenzhen residents could reduce impact of Hongkongers spending across border, but businesses must ‘find right opportunities’.

Hong Kong plans to waive tax on investment gains from cryptocurrencies and other alternative assets for hedge funds, private equity funds and certain family offices as the city strives to enhance its appeal as a wealth management hub.

Hong Kong has sought to position itself as a centre for crypto businesses. Bitcoin has surged since Donald Trump won the US presidential election this month, with investors betting his return to the White House will boost the crypto industry after he championed it on the campaign trail.

Hong Kong’s new tax policy aims to exempt crypto gains tax for hedge funds, private equity funds, and other institutional investors. The proposal, if approved,