Northern Metropolis ‘large-scale land disposal’ a win-win, Paul Chan says
Fast-tracking the Northern Metropolis through a “large-scale land disposal” scheme underscores the government’s push to integrate technology, industry and talent while accelerating Hong Kong’s economic restructuring, the finance chief has said. In a blog post on Sunday, Financial Secretary Paul Chan Mo-po said the megaproject’s success hinged on attracting “high-value-added, high-potential…
Hong Kong's Financial Secretary Paul Chan Mo-po has endorsed the Northern Metropolis' "large-scale land disposal" scheme, asserting it will foster economic transformation by bringing in high-value industries and talent. Chan described the project as a win-win solution that leverages private sector strengths, reducing the government's financial burden.
The scheme's pilot area in Hung Shui Kiu, covering 10.5 hectares, aims to create jobs and develop industrial chains. Chan emphasized the importance of strategic industries and job creation during the bidding process. Meanwhile, Hong Kong is also focusing on expanding storage capacity and gold refining industries to become a trading hub for precious metals.
The government has introduced trial operations for its central gold clearing and settlement system and is attracting overseas refiners to establish operations in the city. Hong Kong's aim to tap into the Islamic finance market also requires deepening collaboration, with the city considering issuing renminbi Islamic bonds.
Written by urgent.news from South China Morning Post - Hong Kong's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
