'Consult Welfare Experts Before Buying Properties'
"); jQuery("#212 h3").html("

"); });
2019-03-02 HKT 13:13
The Chief Executive of the Hong Kong Council of Social Service, Chua Hoi-wai, has urged the government to consult experts before buying any private properties for welfare use.
Financial Secretary Paul Chan had announced in his budget on Wednesday that the government will spend around HK$20 billion dollars to buy at least 60 private units to house welfare facilities such as childcare and elderly centres.
But the plan has come under skepticism from critics who say the plan will benefit landlords or push up property prices.
Chua, for his part, stressed the proposal will be hugely beneficial to the elderly and working mothers. To allay the society’s concerns, he said the government should increase its transparency and consult welfare professionals before making the purchases to make sure the sites are suitable and can readily meet people's needs.
“We should be very cautious not to jack up the property prices. I believe that the government’s procurement policy could have some special measures on this. And I also think that some related professionals can be involved, and the public and also the Legislative Council can have some monitoring measure”, Chua said.
Hong Kong Fund Industry May Double With Tokenised Finance And 24/7 Trading Access
Hong Kong could potentially double the size of its fund industry by moving from legacy infrastructure to token-based fi... Read more
HKMA Alerts Public To Scam Website And Login Screens Posing As Official Site
The Hong Kong Monetary Authority (HKMA) has issued a public alert regarding a fraudulent website and online login scree... Read more
Hong Kong Fintech Promotion Blueprint Indicates 4 Incoming Flagship Projects
The Hong Kong Monetary Authority (HKMA) released the Hong Kong Fintech Promotion Blueprint on 3 February 2025, which sh... Read more
Visa To Enable Cross-Border Payments To 95% Of UnionPay Cardholders In China
At Web Summit Qatar, Visa and UnionPay International (UPI) announced an agreement to enable cross-border money transfer... Read more
HKMA Launches Fintech Blueprint With AI, DLT, Quantum And Cybersecurity Focus
The Hong Kong Monetary Authority (HKMA) published a Fintech Promotion Blueprint to support responsible innovation and f... Read more
How Gaming Giants Are Redefining The Experience Of Paying
Gaming isn’t just a hobby; it’s a global infrastructure challenge. In this episode Vincent Fong (Chief Editor, Fint... Read more