Hong Kong Business News

(To watch the full press conference with sign language interpretation, click here.)

Financial Secretary Paul Chan today said the Government is determined to carry out the reclamation of the Kau Yi Chau Artificial Islands.

At the 2024-25 Budget press conference this afternoon, Mr Chan noted that two of the Government’s mega projects - the Northern Metropolis and the Kau Yi Chau Artificial Islands - which involve reclamation, did not need to be implemented at the same time and could follow one another. 

“At the moment, the Northern Metropolis mega project is proceeding very well. And we are proceeding at full speed with regard to the feasibility and technical studies relating to the reclamation.

“Given the time required to do the studies and take stock of the findings of the studies in order to roll out mitigating measures, if there are any, we do think we could allow ourselves a little more time.”

The finance chief pointed out that based on the studies, the Government could look into different financing options available and put itself in a better position to roll it out the Kau Yi Chau reclamation.

Reiterating that the project will go ahead, he said: “We probably would not be doing it towards the end of 2025. We need to defer it a little bit, but we are determined to do it.”

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