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Letters | Face it, Hong Kong: Shenzhen has you beaten on all fronts
I refer to your report on how Shenzhen is moving from a Hong Kong-style policy on home ownership to the Singaporean model of subsidised housing (“Shenzhen to adopt Singapore housing policy, shift from Hong Kong model”, May 6).
The city next door plans to offer 1 million government-subsidised homes at as low as half the prevailing market rate, rejecting the Hong Kong model, “where most homes are built and sold as commercial products in the private market and only a small portion of cheap rental flats are designed for the poorest”.
After a visit to Singapore soon after taking office in 2017, our Chief Executive Carrie Lam showed enthusiasm for the Lion City’s housing solution. Afterwards, as with most of its well-meaning initiatives, the government stalled. The Shenzhen authorities have shown that action beats words.
With all our wealth – fiscal reserves of HK$1.2 trillion and a record HK$341.4 billion in tax revenues for 2018-19 – we could easily adapt the Singaporean model and significantly ease our housing problem. Instead, our government is focused on unpopular changes to the extradition law, an unconvincing Lantau Tomorrow vision and a national anthem law.
In short, courage and vision are what this administration lacks. If mainland China keeps pulling ahead and we keep stalling, we have no right to complain that we are being marginalised.
Where even a decade ago we were ahead, we are now merely trying to catch up and failing miserably.
Peter den Hartog, Tuen Mun
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