Legco Vets Funding For Lantau Tomorrow Studies

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

"); });
2020-11-27 HKT 16:37
Legco’s Finance Committee on Friday began vetting a funding request for studies related to the “Lantau Tomorrow Vision” project which involves creating a new metropolis on artificial islands.
Chairman of the committee, Chan Kin-por, said around six hours had been set aside for discussion of the HK$550 million funding application.
The meeting got off to a good start with no opposition from any of the lawmakers, although a few did ask for a clarification here and there.
Finance sector lawmaker Chan Chun-ying, for example, questioned development chief Michael Wong on whether there would be a consultant capable of conducting such a large-scale study.
DAB lawmaker Lau Kwok-fan, meanwhile, asked if the government would consider different financing options for the project, which is expected to cost well over HK$600 billion.
Lau's partymate Ann Chiang wanted to know if officials would take into account climate change and rising sea levels during the reclamation work.
Despite the support from pro-establishment councillors, the opposition camp – which resigned en masse from the council this month – have long opposed the plan, saying it will ruin Hong Kong’s environment and empty the public coffers.
Conservation groups have also demanded the immediate withdrawal of the mega reclamation project, saying there are many other options for the government to acquire land for development.
Rezoning sites and taking back brownfield sites, they say, are viable alternatives that the government should consider.
TOPPAN Edge And Partisia Partner For Fully Privacy-Focused Digital Identity Solution
TOPPAN Edge is partnering with Partisia to develop a fully privacy-focused digital identity using Partisia’s Decentr... Read more
Livi Bank Achieves HKD2.9B In Customer Deposit Growth
livi Bank reported a total operating income of HK$220 million in 2024 in its latest annual report results, marking a 76... Read more
OSL And Ant Digital Partner To Drive Real-World Asset Tokenisation
OSL Group (863.HK), a publicly listed company for digital assets, and Ant Digital Technologies signed a Memorandum of U... Read more
WeLab Bank Hits Profit In 2025 With HKD750M Revenue
WeLab Bank achieved profitability in Q1 2025*, continuing from 2024 when it achieved breakeven within four years of its... Read more
Adoption Of GenAI Rises In Hong Kongs Financial Sector, Though Focus Remains On Internal Operations
In Hong Kong, financial institutions are increasingly adopting generative artificial intelligence (genAI), aiming for e... Read more
HKMA Forms CargoX Expert Panel To Modernise Trade Finance
On 28 April 2025, the Hong Kong Monetary Authority (HKMA) announced the creation of an Expert Panel on Project Cargox. ... Read more