Hong Kong Eyes Additional Borrowing to Support Capital Works

MT Newswires Live03-12

Hong Kong plans to borrow an additional HK$400 billion to fund capital works and public projects in the city, according to a resolution introduced by the government on Wednesday.

The government proposed raising the borrowing ceiling for the infrastructure bond program and the government sustainable bond program to HK$900 billion from HK$500 billion.

Hong Kong plans to spend about HK$125 billion to support capital works in 2025-26, and around HK$128 billion or roundabout that mark in the years to come, Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said.

"As public works projects are long-term investments, in particular those in the [Northern Metropolis], there is a need for the government to issue more longer-term bonds to align more closely the cash flow duration with project requirements," Ching-yu said in a statement.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment