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The Economy
The city has committed to implement the OECD's Base Erosion and Profit Shifting package. In July, it amended the Inland Revenue Ordinance to codify the transfer pricing principles and implement the minimum standards of the package.
Government Procurement
Hong Kong, China is a signatory to the Agreement on Government Procurement of the World Trade Organisation (WTO GPA). Government procurement is undertaken on the principles of public accountability, value for money, transparency and the maintenance of open and fair competition. The Government Logistics Department is the government's procurement agent for various goods and related services. Open tendering is normally adopted to meet departments' procurement needs at the best value for money, with due regard to the lifetime cost, environmental considerations and stability of supply. Restricted or single tendering may be used under exceptional circumstances. In 2018, the department procured goods and related services amounting to $4.16 billion from 27 countries and territories, including Hong Kong.
The department maintains supplier lists for different categories of goods and services to facilitate sourcing. It publishes tender notices online and notifies the relevant listed suppliers about open tenders. Tender notices for procurements covered by the WTO GPA are also published in the Government Gazette and issued to consulates and overseas trade commissions where appropriate. Bidders may download tender documents and submit their offers online.
Websites
Financial Services and the Treasury Bureau (The Treasury Branch): www.fstb.gov.hk/tb/en Government Logistics Department: www.gld.gov.hk
Office of the Government Economist, Financial Secretary's Office: www.oge.gov.hk
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