Chinese investors remain a key driver of Hong Kong's property market, despite the Chinese government's 20% tax on rental income and capital gains from overseas properties held by mainland residents via offshore trusts or overseas holding companies, agents say. China's Ministry of Finance and State Taxation Administration announced the new rules in July, providing a 90-day compliance window that closed on October 22. Some agents noted that the Hong Kong property market has quickly absorbed the impact of the new tax rules, with Hong Kong residential property transactions rebounding 18.5% in September, and total value increasing by 29.3%.