Hong Kong at new start for development, to tackle housing: Carrie Lam

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HONG KONG: Hong Kong leader Carrie Lam said on Wednesday (Oct 6) the city was at a new starting point for development under a national security law imposed last year and her priority is to focus on tackling a long-standing housing shortage in the city. Authorities in Hong Kong and Beijing have long bl

HONG KONG: Hong Kong leader Carrie Lam said on Wednesday the city was at a new starting point for development under a national security law imposed last year and her priority is to focus on tackling a long-standing housing shortage in the city.

"Fortunately, the implementation of the National Security Law and the improvement to our electoral system have restored safety and stability in society. Hong Kong is now ready again for a new start for economic development," Lam said in her annual policy address. Critics say it is being used to crush freedoms promised under the"one country, two systems" formula agreed when the city returned to Chinese rule in 1997.

Making housing more affordable has been a priority for all of Hong Kong's leaders since 1997, although the prospect of owning a home is still a distant dream for many.Even residents with good jobs and salaries have struggled to get on the property ladder.

 

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