Developers may be able to bid for sites that would be specially zoned for hotels in the government's land application list in future, the financial secretary said yesterday. John Tsang Chun-wah said after meeting tourism leaders that hotel development might need to be given more weight in land sales. 'Currently, there's no specially zoned land for building hotels, which often have to be built on sites for commercial use,' said Mr Tsang, who chairs a steering committee spearheading the development of meetings, incentives, conventions and exhibitions. 'We may need to study whether we can set aside land from the application list for hotel development.' To boost the hospitality sector, the government would also consider speeding up the bidding process for sites set aside for hotels, he said. Asked about the rise of Macau's exhibition and convention business, Mr Tsang said it meant more opportunity than challenge to Hong Kong. 'It's a good opportunity to co-operate [with Macau]. We will study Macau's latest development and see how to grow the 'pie' bigger,' he said. Meanwhile, Secretary for Financial Services and the Treasury Chan Ka-keung shrugged off worries that building the 10 infrastructure projects outlined in the policy address might push up inflation. The may not all start at the same time, he said in the Legislative Council. 'At present, there are about 20,000 employees in the construction industry, while another 30,000 construction workers do not have sufficient work. Under such circumstances, the 10 infrastructure projects would create jobs for them at the current salary level. It is unlikely to lead to a rise in salaries.' He admitted that the government was in a passive position in handling inflation as it could not determine its own interest rate. 'But it does not mean the government would do nothing. The administration would use other methods to control inflation to help the public to cope with rising prices.' He dismissed fears that the launch of an Islamic bond trading platform, outlined in the policy address, might make the city a money laundering centre for terrorists. Legislator Chan Kam-lam, of the Democratic Alliance for the Betterment and Progress of Hong Kong, supported the launch of Islamic bonds as a means to strengthen Hong Kong's position as an international financial centre.
