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Big Apple vs Pearl of the Orient? How higher taxes in New York may open door for Hong Kong

Big Apple vs Pearl of the Orient? How higher taxes in New York may open door for Hong Kong
South China Morning Post Sunday 01 November 2026, 12:00 UTC By Daisy Wu 1 min read
Key Points

On November 4 last year, Zohran Mamdani won the New York mayoral election on a promise to make the city more affordable, with expanded social programmes funded in part by raising taxes on the city’s wealthiest residents and most profitable corporations. Nearly a year since his upset victory, he has secured one major piece of that agenda: a surcharge on high-end second homes. He also continues to push for higher corporate and income taxes.

On November 4 last year, Zohran Mamdani won the New York mayoral election on a promise to make the city more affordable, with expanded social programmes funded in part by raising taxes on the city’s wealthiest residents and most profitable corporations. Nearly a year since his upset victory, he has secured one major piece of that agenda: a surcharge on high-end second homes. He also continues to push for higher corporate and income taxes. The proposals have intensified criticism of Mamdani, a...
Big Apple (ORG) Pearl (PERSON) Orient (LOCATION) New York (LOCATION) Hong Kong (LOCATION) Zohran Mamdani (PERSON) Mamdani (PERSON)
Originally published by South China Morning Post Read original →

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