Lantau plan to be studied: FS

2018-10-18 13:10:25

Detailed consideration is needed for the Lantau Tomorrow Vision as it is a large-scale and long-term development project which can be carried out in phases and requires capital arrangement.

Financial Secretary Paul Chan made the statement to the media after attending an event today.

Mr Chan said it is inevitable some fiscal reserves will be used due to the scale of the Government?s development plan.

There are different ways to arrange capital for large-scale infrastructure projects such as public-private partnership and bond issuance which have been adopted in the past, he said.

In terms of market turbulence, Mr Chan said stock markets have generally dipped this year but market risk can still be kept under control.

He reminded the public to be cautious with the local property market as some indexes show the premium between first-hand and second-hand homes has narrowed.

The global economic situation and rate hikes could put pressure on property prices, he added.

Mr Chan reiterated the Government will keep moving forward with its land sale plan.

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