Global investors should take a fresh look at China, where rapid technological advancement is converging with declining geopolitical risk relative to other regions, senior investment executives said at the Milken Institute’s Global Investors’ Symposium on Monday. The event in Hong Kong brought together 500 business leaders and senior executives from the investment, banking, finance, technology…
Hong Kong authorities will continue to provide an annual rental subsidy of HK$150,000 (US$19,193) to victims displaced by the deadly Tai Po blaze, even if they can only move into their new homes 2½ years later under the “flat-for-flat” resettlement scheme, a senior official has said. Deputy financial secretary Michael Wong Wai-lun also said on…
Some homeowners displaced by the deadly Tai Po blaze were disappointed by Hong Kong authorities’ decision to buy back their flats instead of resettling them at the original site, even as the acquisition offer was described by surveyors as “generous”. Deputy Financial Secretary Michael Wong Wai-lun unveiled the long-term resettlement plan on Saturday, offering options…
Hong Kong authorities will spend about HK$6.8 billion (US$870 million) to buy back homes damaged in the deadly Tai Po fire from flat owners, offering HK$8,000 to HK$10,500 per square foot as part of a long-term resettlement plan involving HK$4 billion in public funds. Deputy financial secretary Michael Wong Wai-lun unveiled the plan on Saturday,…
A significant portion of flat owners at the fire-ravaged Tai Po estate are inclined to sell their properties to the government as part of a long-term rehousing plan, Hong Kong’s leader has said. Chief Executive John Lee Ka-chiu on Tuesday also pointed out several key challenges in resettling thousands of residents displaced by the inferno…
Japan’s representative to Hong Kong has said his consulate is making “steady progress” in developing ties with the city, while noting the absence of top local officials at a celebration of the emperor’s birthday amid tensions between Tokyo and Beijing. Jun Miura, the country’s consul general to the city, on Thursday expressed his thanks for…
The dust has settled on the election of the Legislative Council president, and committees and panels have settled into the new Legco. Most, it seems, are ready to hit the ground running. First on the agenda: dealing with the aftermath of the Tai Po fire. The more immediate matters involve the rebuilding of a community…
A group of survivors of the deadly inferno in Hong Kong last month has petitioned the government to redevelop the Wang Fuk Court site as a long-term resettlement plan, as authorities review options to rehouse them. In an open letter seen by the Post, the group of displaced residents urged Chief Executive John Lee Ka-chiu…
Hong Kong authorities have expressed confidence in swiftly identifying a location in Tai Po to build subsidised flats as part of resettlement options being reviewed for victims left homeless by the deadly inferno last month. Deputy Financial Secretary Michael Wong Wai-lun on Saturday outlined several options to resettle displaced residents in Wang Fuk Court, while…
Thousands of mourners poured into Tai Po on Sunday, forming a solemn river of remembrance for the 146 lives lost in Hong Kong’s deadliest fire in more than seven decades, while Beijing called for unity and healing as a massive rescue and recovery operation continued amid the charred ruins. The scale of the calamity was…