The beginning of each year the leadership of the administration of Hong Kong's annual policy speech for years, and for the 2016 year speech today (13/22) Executive Chairman Hong Kong, Leung Chun-ying expressed his plan to increase the supply ofresidential land to meet the housing needs of the community.
In his speech, Leung Chun-ying said the Government would not relax addressing there quest. The State governing authorities will add about 97100 unit public housing during the next five years. From side prices, selling prices and rental properties is currently much higher than the ability of their citizens.
In addition the Government also launched initiatives to support innovation and technology sector where Fund allocated amounting to HK $ 2 billion for the Bureau ofinnovation and technology. Leung Chun-ying also said it will pursue free trade agreements, investment promotion and protection agreement, as well as avoiddouble taxation agreements with major trading partners.
More on information technology, the Hong Kong Government will allocate HK $ 200million for Cyberport as an investment in information and communication technologystart-ups. In addition more than HK $ 100 million will be given to supportcollaborative research projects by Hong Kong and China.
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