Hong Kong News

Nonpartisan, Noncommercial, unconstrained.
Wednesday, Apr 24, 2024

Hong Kong’s finance chief says top land supply, housing bodies to meet this week

Hong Kong’s finance chief says top land supply, housing bodies to meet this week

Financial Secretary Paul Chan says government will respond to housing crisis ‘with determination and courage, but also wisdom and techniques’.

Two new top-level committees on land supply and public housing projects will hold their first meetings this week to focus on streamlining internal procedures, Hong Kong’s finance chief has said.

Appearing on a radio programme and writing on his official blog, Financial Secretary Paul Chan Mo-po on Sunday also responded to expectations laid down by Chinese President Xi Jinping for the new administration, which included resolving the city’s deep-seated housing woes through a “people-oriented” philosophy.

“The government shall face problems not only with determination and courage, but also wisdom and techniques to identify the crux. We can’t rush over with our heads down,” he said.

Ten days after taking office under the administration of Chief Executive John Lee Ka-chiu, Chan revealed the Steering Committee on Land and Housing Supply and the Task Force on Public Housing Projects, chaired by the second-term finance minister and his deputy Michael Wong Wai-lun, respectively, would hold their first meetings this week to set priorities at a macro level.

The two high-powered bodies were among four new interdepartmental task forces announced by Lee last week. The other two will focus on tackling intergenerational poverty and coordinating district affairs.

Expediting land and housing supply, speeding up project delivery and streamlining development-related procedures were among the pressing tasks faced by the former two, Chan said.

“Certain unnecessary procedures handled by different departments should be eliminated while the statutory ones should be conducted simultaneously. Some internal work in the bureaucratic structure should also be reduced,” he said, without providing examples.

Chinese President Xi Jinping has said he expects Hong Kong’s new government to tackle the city’s housing crisis.


The finance minister also said the steering committee would closely monitor the development of the Northern Metropolis project, which aims to house about 2.5 million people in the New Territories, and the Lantau Tomorrow Vision blueprint to create a new metropolis on man-made islands in the waters off Lantau Island.

An ongoing interim report on the Lantau project was expected to be ready within the year, Chan said, adding that reclamation work would not be completed until 2027.

He also attributed previous delays in delivering new housing to unfinished transport infrastructure, noting such issues should be avoided during future development projects.

Chan added that the government would intervene in a timely manner to remove obstacles faced by development projects.

Also responding to Xi’s expectation that the new administration would be a “capable government that serves an efficient market”, Chan pledged to lead his colleagues in developing a breakthrough mindset to overcome past policies of “big market, small government” and “positive non-interventionism”.

“The world is no longer the same. Look at how the governments in our neighbouring cities play an active role in steering the economy,” he said, vowing to attract more Chinese and overseas companies across various sectors to set up bases in Hong Kong to diversify the economy.

Separately, Secretary for Development Bernadette Linn Hon-ho said it was important for the new administration to streamline land development-related procedures, adding she hoped authorities could adopt innovative methods of finding land and building homes.

Among the potential innovations the government could draw upon, Linn cited the “modular integrated construction” prefab technique, which relies on free-standing, integrated modules produced at a factory in mainland China.

Newsletter

Related Articles

Hong Kong News
0:00
0:00
Close
It's always the people with the dirty hands pointing their fingers
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Steve Jobs' Son Launches Venture Capital Firm With $200 Million For Cancer Treatments
Google reshuffles Assistant unit, lays off some staffers, to 'supercharge' products with A.I.
End of Viagra? FDA approved a gel against erectile dysfunction
UK sanctions Russians judges over dual British national Kara-Murza's trial
US restricts visa-free travel for Hungarian passport holders because of security concerns
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Political leader from South Africa, Julius Malema, led violent racist chants at a massive rally on Saturday
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
'I am not your servant': IndiGo crew member, passenger get into row over airline meal
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Spanish Citizenship Granted to Iranian chess player who removed hijab
US Senate Republican Mitch McConnell freezes up, leaves press conference
Speaker McCarthy says the United States House of Representatives is getting ready to impeach Joe Biden.
San Francisco car crash
This camera man is a genius
3D ad in front of Burj Khalifa
Next level gaming
BMW driver…
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Joe Biden admitted, in his own words, that he delivered what he promised in exchange for the $10 million bribe he received from the Ukraine Oil Company.
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
×