HONG KONG: Hong Kong chief John Lee launched a plan on Wednesday (October 16) to ban flats below eight sq. meters and lower import taxes on alcohol in a bid to ease the long-term housing disaster and revive the stagnant metropolis economic system.
The Lee administration has vowed to concentrate on livelihood points and take China’s monetary hub “from stability to prosperity” following a broad crackdown within the wake of pro-democracy protests in 2019.
Lee’s speech was his third political speech because the former safety chief was chosen by Beijing to turn into the town’s chief in 2022.
Speaking on the semi-autonomous metropolis’s Legislative Council, he mentioned flats smaller than eight sq. meters – double the scale of a king-size mattress – could be banned.
Registered homeowners may have time to make sure that their subdivided flats meet the minimal measurement and different situations, together with having unbiased home windows and bathrooms.
Chinese President Xi Jinping has ordered Hong Kong to resolve its long-standing housing issues.
The metropolis has among the costliest housing on this planet, and 110,000 households in a inhabitants of seven.5 million stay in subdivided flats.
A 2021 authorities examine discovered that 21% of households in subdivided items had lower than seven sq. meters of dwelling house, smaller than a parking house.
