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Business / Economy

HK to play super-connector for Belt and Road Initiative

(Xinhua) Updated: 2015-08-10 10:14

Leung criticized the filibustering of some opposition lawmakers within the SAR's legislature on many economic and livelihood issues, which has already slowed down Hong Kong's paces of economic development.

Speaking of Hong Kong people's livelihood, the chief executive agreed that housing problem is the biggest one among others, as many public polls showed that Hong Kong residents have repeatedly complained about unaffordable housing price and the long queuing time to acquire government's public housing apartments.

According to Leung, who has prioritized the housing problem since he took office, the amount of private estates to be completed in 2016 will be 70 percent more than the average amount of the past ten years, a record high in recent ten years, which could, to some extent, alleviate the increasing demand.

Leung stressed that addressing housing problem is a long-term work in Hong Kong and should not be given up halfway. Therefore, Leung said Hong Kong must have continuous land supply.

"In long-term plan, one of the solutions is sea filling. We now have some bold visions beyond the Victoria Harbor," Leung told Xinhua.

The chief executive noted that increasing land supply is for not only solving Hong Kong residents' housing problem but also the region's economic development needs, including the financial industry.

"Statistics have shown that there are also strong demand for land, especially business buildings, in Hong Kong. So the government has an ambitious plan to develop Kowloon East, which will be another major business center in the future," said the executive.

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