HIGHLIGHTS-HK leader Carrie Lam unveils property measures

17-Oct-2019 Intellasia | Reuters | 6:02 AM Print This Post

Embattled Hong Kong leader Carrie Lam unveiled a package of property measures on Wednesday aimed at restoring confidence in her administration after more than four months of anti-government protests in the Chinese-ruled city.

Here are some highlights of Beijing-backed Lam’s pre-recorded speech:


* Says impact of more than 400 protests in the past four months has spread

* Says protests cause injuries to more than 1,100 people and the arrest of over 2,200

* Says government will continue to uphold “one country, two systems” formula

* Says will not tolerate calls for independence or anything that hurts China’s national security and sovereignty

* Says continued violence and spread of hatred will damage city’s core values


* To drastically increase transitional housing projects to provide 10,000 units in next three years

* Plans to accelerate the sale of 42,000 units of public housing under tenants purchase scheme

* Proposes to raise cap of property value to HK$8 million from HK$4 million for 90 percent financing under mortgage insurance programme for first-time home-buyers

* Protests have slowed government’s plans to increase land supply

* To use land resumption ordinance to boost land supply, with 450 hectares (1,112 acres) earmarked in New Territories East, where the government will claim back about 700 hectares (1,730 acres) of private land from developers, of which 400 acres (162 hectares) is targeted in the next few years

* Urges all developers to support use of land resumption ordinance to develop public housing and homes for first-time buyers



Category: Hong Kong

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