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Whiskey trader John Rhodes raised a glass as Hong Kong recently cut its liquor tax, hoping the city’s move will boost his business by allowing him to bring in more good drinks and promote his brand, while also offers opportunities for expansion into mainland China and other Asian countries. to land.

Rhodes, 59, who founded his company Jon Dory in Hong Kong a decade ago, importing Scotch whiskey and offering private cask services, said the city was still a “showroom showcase” for global brands and an easy way to reach the mainland.

But the tax cut did not go far enough if the city wanted to compete with established rivals such as Singapore and Taiwan, he said.

“If you look at Taiwan, for example, where they have absolutely zero percent tax with minimal import duties, this is really the hub where so much product comes in and out. Singapore is also another hub,” said the Briton, who has lived in Hong Kong for thirty years.

Rhodes and other merchants said the cut would result in opportunities to bring more premium and premium spirits to the city for trade in Asia, but trade-related costs, rent for storage and logistics costs remained high. And Hong Kong still lagged behind the mainland and Singapore in terms of trade value in the region.

In his last policy speech in October, city leader John Lee Ka-chiu floated the idea of ​​turning Hong Kong into a global liquor trading center.