Don't blacklist Hong Kong, says UK

Britain is against the idea put forward by France of including Hong Kong on a tax-haven blacklist, the UK's top financial regulator said yesterday.

"I don't think we have seen Hong Kong needing to be covered by blacklisting," said Adair Turner, chairman of the UK's Financial Services Authority.

"Obviously, it is important we have common standards of not only the regulatory quality, about which there is no doubt at all in relation to Hong Kong, but also agreements on how we deal with tax."