Hong Kong to Build Large New Town Near China Border

Carrie Lam, Chief Executive of Hong Kong
[Photo by Reuters]

[Asia Economy Reporter Cho Hyun-ui] The Hong Kong government is planning to build a new city with a population of 2.5 million in an area adjacent to mainland China.

According to Hong Kong public broadcaster RTHK on the 7th, Carrie Lam, Chief Executive of Hong Kong, announced the "Northern Metropolis" construction plan in her policy address the day before. The plan aims to supply up to 926,000 housing units in a 300㎢ border area with Shenzhen, China, accommodating one-third of Hong Kong's population (7.5 million).

Connectivity with China will also be strengthened. Among the five railway lines to be built in the new city, three will connect to mainland China. Bloomberg News analyzed, "The construction of the new city is intended to bring Hong Kong closer to mainland China."

In her speech, Chief Executive Lam said, "We will solve Hong Kong's severe housing shortage and develop the area into an IT hub, expanding jobs up to 650,000."

However, questions have been raised in Hong Kong about how the funding for this blueprint will be secured.

The Hong Kong South China Morning Post (SCMP) pointed out, "Chief Executive Lam did not present a specific budget related to the large-scale project, causing experts and legislators to worry that the plan will ultimately impose a financial burden on Hong Kong."

This content was produced with the assistance of AI translation services.