CHIEF Executive-designate Tung Chee-hwa yesterday threw his weight behind the latest initiative to tackle sky-high housing prices.
'If property prices in Hong Kong continue to go up like this, the economy and people's livelihood will be greatly affected,' he said after a visit to Beijing.
'Therefore, actions should be taken. I believe it is appropriate what the Government is doing . . . In the long run, we have to increase land supply,' he said.
The Government on Wednesday announced measures to curb property prices, triggering criticism from property developers that it was going against the capitalist system.
Some have threatened to take the Government to court over requirements, among others, for them to put flats on to the market within six months after the issuing of a government approval for sale.
Separately, one of Mr Tung's top advisers, Leung Chun-ying, urged the public not to adopt 'intimidating tactics' to vent their frustrations over livelihood problems.