Project financing committee meets

The Committee on the Financing of Major Development Projects, chaired by Financial Secretary Paul Chan, held its first meeting today to discuss its mode of operating, future work directions and work plan.

The Chief Executive announced the committee’s establishment in the 2023 Policy Address.

With the Financial Secretary and Deputy Financial Secretary as Chairman and Deputy Chairman, the committee’s membership includes the Secretary for Financial Services & the Treasury, the Secretary for Transport & Logistics and the Secretary for Development.

The committee will examine financing arrangements for major development projects and advise on investment and financing options, including assessing the feasibility of bringing in investors and leveraging market capital.

It will also thoroughly evaluate the impact of projects on government finances to protect the Government’s fiscal sustainability.

Noting that major development projects are important for promoting the long-term and sustainable development of Hong Kong, Mr Chan stressed that they involve significant funding requirements.

“We need to draw up appropriate financing arrangements for various projects and plan ahead to ensure that projects can be taken forward smoothly and in an orderly manner,” he said.