Tycoons told to help resolve city's shortage of homes
Hong Kong chief executive Carrie Lam meets reporters after visiting the polling station at the Convention Centre on September 19 2021 in Hong Kong, China. Picture: GETTY IMAGES/ANTHONY KWAN
On Sunday, Hong Kong held its first vote since China overhauled the former British colony’s electoral system to ensure that only those loyal to Beijing run the city. “After improving the election system, government efficiency can increase. Once efficiency is raised, of course it will want to solve people’s problems,” she said, namely border reopening in the near future and housing issues longer term.
Raymond Cheng, head of Hong Kong research at CGS-CIMB Securities, said investors were concerned that Beijing would ask Hong Kong to impose measures such as price caps or home purchase restrictions akin to recent rules introduced in mainland China.Citi analysts said that developers’ shares were oversold on the back of the report but that “without any near-term actions to remove policy risk concerns ... the sector may not see any sustainable rebounds”.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong leads Asian sell-off as Evergrande fears spreadAsian markets fell Monday on fears about contagion from a possible collapse of teetering property giant China Evergrande, while sentiment was also dragged by the Federal Reserve's plans to taper monetary policy, surging Delta infections and signs of a weakness in the global recovery.
Read more »
Hong Kong slides to almost 11-month low as Asian stocks sag over tapering fearsFederal Reserve meeting headlines those of a dozen central banks, including SA
Read more »
Hong Kong leads Asian sell-off as Evergrande fears spreadAsian markets fell Monday on fears about contagion from a possible collapse of teetering property giant China Evergrande, while sentiment was also dragged by the Federal Reserve's plans to taper monetary policy, surging Delta infections and signs of a weakness in the global recovery.
Read more »
Hong Kong slides to almost 11-month low as Asian stocks sag over tapering fearsFederal Reserve meeting headlines those of a dozen central banks, including SA
Read more »
PERCY LETWABA: Shared data is vital for cities to identify risks and boost service deliveryTechnology offers effective way of tackling urbanisation, climate change and water management
Read more »
PERCY LETWABA: Shared data is vital for cities to identify risks and boost service deliveryTechnology offers effective way of tackling urbanisation, climate change and water management
Read more »