Financial Secretary Paul Chan on Friday stood firm in his stance in not making any further cuts to stock trading stamp duties, saying the current level is "appropriate" in maintaining Hong Kong's competitiveness. At a special meeting of the Legislative Council's finance committee, lawmaker Robert Lee, representing the financial services sector, asked if the government would consider a mechanism to review stock market levies. The finance chief said stamp duty is a significant source of government revenue and that officials have to take into account the city's competitiveness when making changes to any financial policies. "I have made it very clear that I will not lower the stock trading stamp duty any further, unless the external environment undermines Hong Kong's competitiveness," Chan said. "According to our previous studies, we think that the current stamp duty level is appropriate with regards to transactions and competitiveness." On tax concessions, the finance chief said the government would review the changes in the coming years to see whether there is room for adjustment. Separately, several lawmakers focused on issuing bonds to fund large-scale developments, in their respective addresses during the meeting. The minister, for his part, said the government would consider issuing long-term bonds to finance the development of the Northern Metropolis, as the project would likely see returns and income later on.