Chen Maobo: It is expected that in the next 2 to 3 years, land and income alone will not be enough to support infrastructure investments in Hong Kong.

Hong Kong Financial Secretary Paul Chan Mo-po stated at a special meeting of the Legislative Council Finance Committee that the property market in Hong Kong is currently stable, but the land revenue for the 2025/26 financial year is still at a relatively low level compared to previous years. It will take time for land prices to recover, and it is expected that the land revenue for the next 2 to 3 years will not be sufficient to support infrastructure investment. Paul Chan Mo-po pointed out that Hong Kong's infrastructure spending has increased from HK$90 billion per year to HK$120 billion, creating a gap that the Hong Kong government needs to fill by issuing bonds and using market funds to invest in the future and develop infrastructure. He mentioned that the Hong Kong government's accounts are divided into operating accounts and capital accounts. It is estimated that the operating accounts for this fiscal year will record a surplus, but there is still a significant gap compared to investments. The operating accounts are like monthly salaries that need to be balanced in order to strive for a surplus and savings. With high external risks and changes in recent years, caution is needed. Paul Chan Mo-po mentioned that the capital accounts mainly consist of land revenue from land sales and land premium payments, which are used to pay for expenses related to the development of the Northern Metropolis and various transportation infrastructure projects.