City leader stresses importance of using public funds to accelerate development of I&T, housing megaproject, citing 2001 case of science park
Hong Kong residents will enjoy the “dividends” of the Northern Metropolis, the city leader has said, while vowing to use investment and preferential measures to accelerate the megaproject’s development amid a budget deficit.
Chief Executive John Lee Ka-chiu made the pledge on Sunday as his innovation minister said he believed that several companies joining the initiative would enjoy preferential land prices this year.
Lee also urged his finance chief, Paul Chan Mo-po, to manage the government’s funds wisely as Hong Kong planned to set aside money to create entities that would manage the various industrial parks forming part of the 30,000-hectare (74,130-acre) megaproject.
The city leader made the remarks in a televised interview in response to a question about whether spending public money on the Northern Metropolis would exacerbate or prolong the city’s financial deficit.
