Lam 鈥榙etermined鈥 over cost of housing
Print Edition
HONG Kong’s chief executive-designate Carrie Lam said yesterday that she was “very determined” to tackle the high cost of housing in the densely populated city, a topic that is among the top concerns of foreign businesspeople working there.
Lam, the financial hub’s former chief secretary, was elected on Sunday to lead the city.
She pledged in her victory speech that she would work to unite the political divisions that had hindered policy-making and legislative work.
Speaking at a Credit Suisse investment conference in the city, Lam also said that Hong Kong faced tough competition from the region and from China’s mainland cities which were “becoming very powerful.”
The cost of housing is one of Hong Kong’s biggest social issues and making homes more affordable was among outgoing leader Leung Chun-ying’s top priorities.
Lam said land and labor were two “major bottlenecks” for Hong Kong’s development. “On the land issue, I am very determined to tackle that in the next term of government in a big way,” she told her audience of 200 financial and business professionals.
“It’s not just looking at the annual land sale program but really, the long-term supply of land, or better still, a land bank for Hong Kong.”
During her election campaign, Lam had also pledged to tackle the problem by increasing the supply of land.
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