Financial Secretary Christopher Hui Leads Delegation to Inspect Northern Metropolis
RTHK · 2 SOURCESabout 2 hours ago5 MIN
Summary
Financial Secretary Christopher Hui Chiu-yee led a delegation of local financial industry representatives to inspect the Northern Metropolis on Tuesday, visiting three core development areas including the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, Kwu Tung North New Development Area, and Hung Shui Kiu/Ha Tsuen New Development Area . The delegation listened to briefings from the Northern Metropolis Co-ordination Office and park companies on the latest developments and construction progress .
Key Points
- Christopher Hui Chiu-yee (許正宇) led the delegation, which also explored financing needs for various development projects including the Kwu Tung Station, the Northern Link, and housing developments in Kwu Tung North
- The delegation visited three core development areas: the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone (河套香港園區), Kwu Tung North New Development Area (古洞北新發展區), and Hung Shui Kiu/Ha Tsuen New Development Area (洪水橋/厦村新發展區)
- The Treasury and the Hong Kong Monetary Authority are studying how to assist park companies and subsidized universities in their Northern Metropolis development within the current banking capital requirements framework
- The enhanced risk-based capital regime for the insurance industry will provide capital preferential treatment for infrastructure investments including the Northern Metropolis from December 31
- Discussions covered industrial parks, partitioned development, university town projects, and potential investment and financing opportunities
Why It Matters
The initiative signals Hong Kong's strategic shift from being merely a "financial city" to a "financial-empowered city," leveraging market forces and social capital to accelerate Northern Metropolis development . The new measures are expected to unlock more financing flexibility and insurance capital for infrastructure projects in the Northern Metropolis, a key growth engine for Hong Kong.
The initiative signals Hong Kong's strategic shift from being merely a "financial city" to a "financial-empowered city," leveraging market forces and social capital to accelerate Northern Metropolis development . The new measures are expected to unlock more financing flexibility and insurance capital for infrastructure projects in the Northern Metropolis, a key growth engine for Hong Kong.