The Chief Executive of the Hong Kong Special Administrative Region, Lee Ka-chiu, announced today the “First Five-Year Plan for the Economic and Social Development of the Hong Kong Special Administrative Region”. Li Jiachao said that the supply of public housing will be vigorously increased and the “Long-term Housing Strategy” will be promoted in all aspects. Long-term housing demand estimates are updated every year, and ten-year housing supply targets are set to be extended year by year in response to social, economic, and market changes. The housing supply plan for the next ten years will be based on “public rental housing accounts for 40%, subsidized sales units account for 30%, and private homes account for 30%.” We are committed to continuously optimizing policy arrangements from the three aspects of “supply leadership”, “making good use of public housing resources, encouraging upstream” and “improving the housing ladder and promoting youth housing”, and focus on constructing a new pattern of more sustainable multi-level housing supply.

The Chief Executive of the Hong Kong Special Administrative Region, Lee Ka-chiu, announced today the “First Five-Year Plan for the Economic and Social Development of the Hong Kong Special Administrative Region”. Li Jiachao said that the supply of public housing will be vigorously increased and the “Long-term Housing Strategy” will be promoted in all aspects. Long-term housing demand estimates are updated every year, and ten-year housing supply targets are set to be extended year by year in response to social, economic, and market changes. The housing supply plan for the next ten years will be based on “public rental housing accounts for 40%, subsidized sales units account for 30%, and private homes account for 30%.” We are committed to continuously optimizing policy arrangements from the three aspects of “supply leadership”, “making good use of public housing resources, encouraging upstream” and “improving the housing ladder and promoting youth housing”, and focus on constructing a new pattern of more sustainable multi-level housing supply.