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.
Binance Pay And TBCASoft Enable QR Payments Across Merchant Networks In Japan
Binance Pay has partnered with TBCASoft to enable QR code payments through the HIVEX Network, starting with a planned r... Read more
OSL Launches AgentPay For AI Agent Stablecoin Payments
OSL Group has launched AgentPay, a stablecoin payment infrastructure designed to enable AI agents to execute autonomous... Read more
The Biggest AI Governance Gap In APAC Lies In Proof And Traceability
AI has outgrown the role of an assistant, now moving money, approving transactions, and carrying out multi-step tasks w... Read more
HSBC Sells Tokyo HQ As It Prepares For 2029 Relocation
HSBC has sold its Tokyo headquarters building to a unit of Mitsubishi HC Capital, according to Bloomberg. The sale come... Read more
Why Multi-Currency Cards Need More Than Card Issuing
Tap a multi-currency card in Tokyo, and the payment looks no different from any other card transaction. Behind the tap,... Read more
China CITIC Bank Names Wang Junwei As CEO
China CITIC Bank International (CNCBI) has appointed Wang Junwei as its Executive Director and Chief Executive Officer,... Read more