HK Chief Executive pledges to tackle housing issue in policy address

15:40, July 16, 2011      

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Hong Kong Chief Executive Donald Tsang Friday pledged to propose measures to deal with Hong Kong's housing problem in his October policy address.

Speaking at his Legislative Council question-and-answer session on Friday, Tsang acknowledged the housing problem is a crucial social issue, saying that the government will consider various subsidized housing schemes, and he has asked the Central Policy Unit of Hong Kong to discuss the issue.

The government has adopted various approaches in tackling the housing problem, Tsang added, such as increasing land supply, to ensure the transparency of the property market and suppress property speculation.

He said the moves have stabilized the market.

Source: Xinhua
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