Transcript of opening remarks by Chairman of LegCo Finance Committee at end-of-session press conference

The following is issued on behalf of the Legislative Council Secretariat:

     Following is the transcript of the opening remarks by the Chairman of the Legislative Council (LegCo) Finance Committee (FC), Mr Tommy Cheung, at the FC end-of-session press conference today (July 22):

     During the 2014-2015 legislative session, the Finance Committee has held a record of 85 meetings spanning about 180 hours. Of these, 74 meetings of about 145 hours were spent on deliberating financial proposals put forward by the Administration.

     The Committee has deliberated 100 financial proposals within this session. With the exception of two proposals related to the establishment of a new Innovation and Technology Bureau, which are carried forward from the previous legislative session, the Finance Committee has finished deliberation of and approved all the financial proposals put forward by the Administration.  The 98 approved proposals include HK$107 billion worth of 63 public works projects, 10 establishment proposals and 25 non-public works financial proposals which cost some HK$41 billion.

     The major public works projects and livelihood-related items approved by the Committee include: three landfill extension projects and the development of an integrated waste management facilities costing HK$28.9 billion in total; Liantang/Heung Yuen Wai Boundary Control Point and associated works involving some HK$17.5 billion in financial commitment; planning, engineering and architectural study for topside development at the Hong Kong Boundary Crossing Facilities island of the Hong Kong-Zhuhai-Macao Bridge, at a cost of around HK$64 million; approval of a HK$4 billion loan for the establishment of a non-profit making private teaching hospital by the Chinese University of Hong Kong; and approval of HK$6.7 billion for implementation of special rent payment for public housing tenants and additional provision for social security recipients.

     While there were heated debates on controversial proposals at times, deliberations at the Committee's meetings have been smooth and orderly. I am grateful to members for their active participation and contribution to the work of the Finance Committee over the last session.

     Last but not least, I would like to thank the LegCo Secretariat and also the Legal Adviser for spending a lot of time on helping me with chairing the Finance Committee (meetings). Thank you very much.

Ends/Wednesday, July 22, 2015
Issued at HKT 19:08