Article 106
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of
its
to balance its expenditure and
The budget should
st rive
avoid deficits.
The Hong Kong SAR shall follow the princip le
measuring expenditure by revenues in drawing up
budget. It shall
revenues and to
correspond to the
product.
rate of increase in the gross domestic
Article 107
The Hong Kong
SAR shall practise an independent
taxation system.
With reference to the low tax policy previously
practised in Hong Kong, the Hong Kong SAR shall formulate
laws on its ow n to prescribe the types of tax, tax rates,
tax exemptions and other tax matters.
Article 108
The Government of the Hong Kong SAR shall create
the appropriate economic and leg al conditions for the
maintenance of the status of the Hong Kong SAR as an
international financial centre.
Article 109
The monetary and financial systems of the Hong
Kong SAR shall be governed by law.
The Government of the Hong Kong SAR shall decide
on its ow n its monetary and financial policies, shall
safeguard the free operation of financial business and financial markets and shall regulate and supervise them in
accordance with law.
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