Transcript of remarks by STH
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Reporter: Mr Cheung, what is the latest update regarding the joint cross-border discussions? And are you confident that there will be a plan, an announcement coming, more details coming before this administration finishes?
Secretary for Transport and Housing: Well, as I said earlier in my Chinese response, the issue of co-location of CIQ activities, CIQ meaning customs, immigration and quarantine facilities, this issue has been under discussion between the HKSAR (Hong Kong Special Administrative Region) Government and relevant Mainland authorities for quite a long time. The reason why it has taken so long in our discussion is that the issue involves rather complicated constitutional, legal and operational perspectives. We have to make sure whatever co-location arrangement we are going to adopt will be in line with the Basic Law.
Now so far, after a long period of discussion where we went into very minute aspects of any possible arrangement, I have to add that we have considered actually various options in terms of implementing co-location (arrangements). After all these discussions, what I can say today is we have made very substantial progress. Both sides between Hong Kong and the Mainland agreed that the co-location arrangement can be legally feasible in accordance with the Basic Law. We have also touched on some operational aspects. But some of the details have yet to be deliberated in greater detail and we are still in discussion with the relevant Mainland authorities. So as of now, we are not able to say too much about the details. We are still having discussions. As the Chief Executive said in the LegCo (Legislative Council) yesterday, whenever the Government is able to reach an agreement or a consensus with the Mainland, then of course we will be able to release the details.
Reporter: Secretary, you mentioned during the meeting that the property price trend has been getting irrational. You also sounded a warning that the affordability ratio could go up to 80 per cent if the interest rate rises 3 per cent. What's wrong with the property market right now? And, anything else in the Government tool box that you or the next Administration can still roll out to control or cool the market?
Secretary for Transport and Housing: In terms of tool box, of course, there are always measures that the Government can consider, whether the current Government or the next Government, when it considers that the market has come to a stage where more interventions, more demand-management measures or other measures will be necessary. I could only say at this stage that this Government continues to monitor the market closely on a daily basis. I am sure the next Government will do the same. So, we would not, of course, announce any new measures we are going to propose in advance. But, we are closely monitoring the market.
(Please also refer to the Chinese portion of the transcript.)
Ends/Friday, June 2, 2017
Issued at HKT 19:40
Issued at HKT 19:40
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