Many Funding Requests Have To Wait: Chan Kin-por
"); jQuery("#212 h3").html("

"); });
2018-03-26 HKT 19:05
The chairman of Legco's Finance Committee, Chan Kin-por warned on Monday that around 20 to 30 government funding requests may not be approved before the council breaks for the summer recess in July.
This came as the pan-democrats sought lengthy discussions on more initiatives than he expected.
Chan explained that he had originally thought that the pan-democrats would seek detailed debates on just two of the items on the agenda – funding for the innovation and technology park at the Lok Ma Chau Loop, and expenditure relating to the Hong Kong-Zhuhai-Macau Bridge.
But he said opposition lawmakers have indicated that they want more time for discussing 16 other controversial items, like infrastructure works for the West Kowloon Cultural District.
The finance committee chief said he expects each 'controversial' item to take eight hours of debate.
He also said he will seek to schedule more meetings, but conceded that he expects the committee to be able to deal with only around half of the controversial items, and anywhere between 30 to 40 of the more straight-forward projects before the summer recess.
The committee is yet to deal with around 70 funding requests for various government projects. Chan had revealed after a meeting with Chief Executive Carrie Lam last Thursday that livelihood-related projects – such as those relating to hospital development and schools – will be pushed to the top of the agenda for speedy approval.
But Chan is now warning that even with the reshuffle, many items will have to be carried over to September when the council reconvenes.
XTransfer Partners With Bank SinoPac HK To Expand Cross-Border Payment Services
XTransfer has entered into a collaboration with Bank SinoPac, through its Hong Kong Branch, to expand international ope... Read more
Standard Chartered To Launch Bitcoin And Ethereum Custody Services By 2026
Standard Chartered Bank (Hong Kong) participated in Hong Kong Fintech Week 2025 (HKFTW25) as a strategic partner, annou... Read more
HashKey And Kraken Form Partnership On Institutional Tokenised Assets
HashKey and Kraken have announced a strategic partnership to promote institutional adoption of tokenised assets. The co... Read more
Reap Expands Global HQ With New Office In Hong Kong
Reap, a global fintech company providing stablecoin-enabled financial infrastructure, has expanded its global headquart... Read more
HeyMax Debuts In Hong Kong, Partnering With Cathay To Drive Regional Growth
Loyalty and travel rewards platform HeyMax has made its first international launch in Hong Kong, partnering with Cath... Read more