2024-02-16 08:58:44
Liu Yeqiang: The government’s land premium policy is out of touch with reality, “flour is more expensive than bread”
Heung Yee Kuk held a New Year’s greeting today. In his speech, Heung Yee Kuk Chairman Liu Yip-keung said that the government’s land premium policy is out of touch with the reality of market supply and demand. It is likened to when the price of flour is higher than bread, “everyone has the incentive to produce bread.”
Liu Yeqiang pointed out that the real estate market is in a downturn, and the land price premium policy has made developers hesitate to move forward. For example, he gave the example of six land-exchange applications in the northern metropolitan area recently. However, developers and the government disagreed on the premium, and the government eventually had to step in to acquire the land. He believes that the government should adopt a quantitative easing policy when it comes to land price premiums. Liu Yip-keung hopes that the SAR government will continue to communicate with the Heung Yee Kuk on major and minor issues related to the New Territories, so that “what the people call for, we will respond to.”
Liu Yeqiang: The government’s land premium policy is out of touch with reality, “flour is more expensive than bread”
Liu Yip-keung continued that the world is undergoing major changes not seen in a century, and Hong Kong, as an international financial center, will inevitably be affected. However, under the premise of relying on the motherland, Hong Kong has unique advantages and there are always more solutions than difficulties. He hopes that the SAR government will seize the opportunity and use its geographical advantages to “join forces” with Shenzhen to promote Hong Kong’s new engine of progress.
The government will complete the legislation of Article 23 of the Basic Law this year. Liu Yipqiang said that it is a responsibility that the SAR government and citizens must fulfill. As the highest public opinion representative in the New Territories, the Heung Yee Kuk has its unshirkable responsibility and will definitely help promote legislative work and fully and accurately implement one country, two systems.
The original article was published on AM730
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