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Paul Chan: 1st Funding for NM Park Companies Requires LegCo Approval; Fund Utilization to Remain Flexible
2025-09-18 15:38:27 Hong Kong's latest Policy Address has proposed expediting the development of the Northern Metropolis (NM), with dedicated legislation to authorize the government to establish statutory park companies and to set up a special funding channel for capital injection into them. Financial Secretary Paul Chan said today (18th) that the first special funding for the park companies will require approval from the LegCo. Once the funds are allocated to them, however, it will be up to them to decide how to use the money for the sake of flexibility. That said, those companies will be led by the government in setting industry directions, ensuring that they are in line with its strategy to attract investment, Chan stressed. ~ AAStocks Financial News Web Site: www.aastocks.com | |