Policy Address 2024 | Northern Metropolis to lead HK's growth with housing, economic projects, John Lee reveals
Hong Kong Chief Executive John Lee delivers his third Policy Address today (Oct. 16) at 11 a.m.
"The Northern Metropolis is the new engine of Hong Kong's economic development. We will expedite the implementation of economic and housing-related projects in the Northern Metropolis, while maintaining a prudent fiscal position," Lee said.
In the next five years, some 60,000 housing units involving about 10 new PRH estates will be completed and ready for intake.
The first batch of land at the San Tin Technopole will be put to the market, and the new Huanggang Port building, which will be co-located with immigration and customs clearance arrangements, will be completed. In the second five-year period, the number of new housing units will increase by about 150,000, with over 10 million square meters of gross floor area available for economic uses. The first joint-user government building in Kwu Tung North will be put to use, and the expanded North District Hospital will be ready for service. As for transport infrastructure, construction of the Northern Link (NOL) Main Line is scheduled for completion in 2034, and the Northern Metropolis Highway (San Tin Section) is set to open in 2036.
The government will promote the development of the Hong Kong-Shenzhen I&T Park in the loop, and leverage the strengths of the GBA to foster mutual capacity development.
- Capitalize on the Mainland's land resources and HK's advantages in cargo flow to develop a logistics industry circle
- Promote collaboration in the airport cluster of the GBA to expand business networks
- Enhance the mechanism on recognition of professional qualifications
- Mobilise capital for joint investment in the GBA
- Promote data flow for public convenience and business facilitation
- Scale up medical collaboration in the GBA
- Strengthen legal cooperation
- Nurture talents and create opportunities for youth development
Related News:
Policy Address 2024 | John Lee highlights talent development initiatives amid workforce shortage
Comment