Lawmakers Give CE Thumbs Up For Policy Address

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2021-10-06 HKT 17:09

Share this story

facebook

  • Lawmakers give CE thumbs up for policy address

Legislators hailed Chief Executive Carrie Lam's policy address on Wednesday, with New People's Party chairwoman Regina Ip describing it as far-sighted and high quality.

Ip said the proposal to create a Northern Metropolis is a "grand vision" which will bring substantial, long term benefits to Hong Kong.

She said the government should cooperate with the private sector to fund the project.

“The government has not put a price tag on the development. I think it can be done through public-private partnership,” she said.

“The government could set up a special purpose vehicle, in other words, a corporation to invite private sector participation to finance this project rather than as an expenditure item on our budget.”

Liberal Party lawmaker Tommy Cheung also backed the Northern Metropolis plan, saying it is good that more economic activities and jobs will be created in the northern part of Hong Kong.

"A lot of housing for people in the next twenty years and a lot of jobs will be moved to this part. It is something that we like to see. We don't want it to be centralising in Central, Wan Chai and Causeway Bay. That would not help small businesses," he said.

DAB lawmaker Elizabeth Quat welcomed the government's plan to move forward with work on Article 23 national security legislation, saying this should be done as soon as possible.

Federation of Trade Unions lawmaker Alice Mak, meanwhile, said she hoped the government would get cracking on all its plans as soon as possible. But she said as Hong Kong enters a new era, the authorities must make sure they don't leave grassroots residents behind.

RECENT NEWS

ZA Bank Brings Nasdaq Data To Hong Kong, Expanding US Stock Access And Investor Education

ZA Bank and Nasdaq have announced a collaboration aimed at enhancing digital wealth management in Hong Kong and interna... Read more

Hong Kong To Study One‑Stop Infrastructure For Equities, Bonds And Digital Assets

The Hong Kong Monetary Authority’s (HKMA) CMU OmniClear and the Hong Kong Exchange (HKEX) are set to begin a study on... Read more

Hong Kong To Issue First Stablecoin Licenses In March, Expand Crypto Regulation

Hong Kong will issue its first licenses for fiat-referenced stablecoin issuers in March and introduce new legislation l... Read more

MSIG Joins US$6B IFC Credit Insurance Facility To Boost Emerging Market Lending

MSIG USA and Mitsui Sumitomo Insurance (MSI Japan), together referred to as MSIG, have joined a new insurance-ba... Read more

Why The $2 Trillion Stablecoin Prediction Is Too Low

McKinsey estimates the stablecoin market will hit $2 trillion by 2028. But according to Sam Lin, COO of dtcpay, even th... Read more

RedotPay Eyes US IPO With Potential US$1 Billion Raise

RedotPay is reportedly exploring an IPO in the US that could raise more than US$1 billion, according to people famili... Read more