Hong Kong banks set golden week lures for mainland Chinese visitors despite new levies

Hong Kong commercial banks continue to offer incentives to attract mainland visitors during the first golden week after Beijing tightened cross-border investment rules and enforced the collection of a 20 per cent levy on overseas investment or insurance gains. HSBC would offer up to HK$88,000 (US$11,215) for new high-end clients, as well as experiences including a National Day fireworks dinner and tickets to the China Open tennis tournament in Beijing or a K-pop concert, according to the bank’s...