The Hong Kong government has decided on Friday to impose higher stamp duties on property transactions in a bid to cool the city’s exuberant home prices.
New residential supply to reach 67,000 units in next 3 or 4 years.
In demonstrating the government’s resolve to tackle the city’s housing problem, Chief Executive Leung Chun-ying said he would personally take charge of the overall planning, coordination and implementation of all housing policies by different departments in Hong Kong.
Aside from its economic benefits, the greatest value of Qianhai — dubbed South China’s Manhattan — lies in its role as an external financial liberalization experiment and demonstration area model, as well as a modern service industry cooperation zone between Shenzhen and HK, to be replicated throughout the whole of China.
Entity to operate as a public company, non-statutory advisory body to govt.
