Reclamation Tech To Stop Subsidence: Michael Wong
"); jQuery("#212 h3").html("

"); jQuery(document).ready(function() { jwplayer.key='EKOtdBrvhiKxeOU807UIF56TaHWapYjKnFiG7ipl3gw='; var playerInstance = jwplayer("jquery_jwplayer_1"); playerInstance.setup({ file: "https://newsstatic.rthk.hk/audios/mfile_1449233_1_20190323113945.mp3", skin: { url: location.href.split('/', 4).join('/') + '/jwplayer/skin/rthk/five.css', name: 'five' }, hlshtml: true, width: "100%", height: 30, wmode: 'transparent', primary: navigator.userAgent.indexOf("Trident")>-1 ? "flash" : "html5", events: { onPlay: function(event) { dcsMultiTrack('DCS.dcsuri', 'https://news.rthk.hk/rthk/en/component/k2/1449233-20190323.mp3', 'WT.ti', ' Audio at newsfeed', 'WT.cg_n', '#rthknews', 'WT.cg_s', 'Multimedia','WT.es','https://news.rthk.hk/rthk/en/component/k2/1449233-20190323.htm', 'DCS.dcsqry', '' ); } } }); }); });
2019-03-23 HKT 11:39
The Development Secretary Michael Wong says subsidence will not be a problem for flats built on reclaimed land in waters east of Lantau.
Speaking on a radio programme, he said getting the first flats ready for sale in 13 years was an aggressive target but advancements in reclamation technology meant it was possible.
The government wants to reclaim land around Kau Yi Chau for housing, as part of the Chief Executive Carrie Lam's Lantau Tomorrow Vision project.
Wong also said revenue from land sales will ensure that the HK$624 billion plan will break even, despite only 30 percent of the residential land being earmarked for private housing.
He said future land revenue from the reclaimed land was based on the sale of 45,000 private residential units. He said the remaining 70 percent would be used for public housing.
On a separate matter, Wong said the government had no plans to develop a high-speed rail link from Qianhai in Shenzhen to the reclaimed land off Lantau.
Talk of a second high-speed link began after it appeared on a map at the Shenzhen Qianhai Exhibition Centre, raising questions about whether it had already become part of the Lantau project without the public's knowledge.
Wong said the SAR government had neither discussed such a plan with Shenzhen, nor had it accepted any proposal. But he said he would respect any idea from a neighbour.
SBI Holdings To Acquire Bitbank In US$289M Crypto Expansion
SBI Holdings has agreed to acquire Japanese crypto exchange Bitbank in a deal valued at approximately US$289 million, w... Read more
4 Ways Hong Kong Banks Fight Financial Crime Using AI, According To HKMA
The Hong Kong Monetary Authority (HKMA) wants banks to use AI in financial crime as a way to counter cyberattacks and s... Read more
Ripple Launches RLUSD Stablecoin In Japan Through SBI Group
Ripple has launched its US dollar-denominated stablecoin, Ripple USD, in the Japanese market. The expansion follows reg... Read more
SBI And Startale Launch Trust Bank-Backed Yen Stablecoin JPYSC In Japan
SBI Group has introduced its trust based stablecoin JPYSC in partnership with Singapore-based fintech company Startale ... Read more
Visa Study: Digital Wallets Lead Greater Bay Area Payment Preferences
Visa has released its latest Consumer Payment Attitudes Study, highlighting how payment seamlessness is linked to a shi... Read more
European And South Korean Banks Form Project Pangea For FX Settlement
Chainlink, South Korean infrastructure provider FairSquareLab, the Unified Korea Alliance (UniKA), and European stablec... Read more