Hong Kong Development Bureau: No intention to reintroduce the system of corner cutting, nor do we plan to simultaneously sell land and corner cutting, in order to avoid disrupting land development strategies and progress.

According to the Securities Times APP, land revenue is one of the main sources of income for the Hong Kong government. Some legislators are concerned about whether the government will consider introducing targeted measures to reduce the upfront investment costs of developers' projects and reintroduce the land grant system. Lin Zhiwen, Deputy Director of the Hong Kong Development Bureau, recently reiterated at the Legislative Council meeting that the current system allows the government to control the timing and pace of land sales, ensuring stable and prudent land supply. Therefore, the authorities currently have no intention of reintroducing the land grant system, nor do they plan to sell land and grant land in parallel, in order to avoid disrupting the government's land development strategy and pace and sending out signals of market chaos. The authorities stated, "If developers are interested in certain plots of land, they can provide feedback to the Hong Kong Development Bureau through different channels for reference."