January 1, 2024
Cai Zhizhong
Founder of Asia Real Estate
President of Hong Kong Professional Real Estate Consultants Association
Chief President of Hong Kong Eastern District Federation of Industry and Commerce
I went to Hong Kong, Zhuhai and Macao for a few days during the holiday and discovered that whether a city can be successful, it is especially important to give full play to its own advantages. The prosperity of Macau’s gambling industry is inseparable from the hard work of the Macau government and citizens. Both the government and the people understand that they must build the best tourist resort in order to attract outsiders, especially mainlanders, to come in and spend money. Therefore, casinos, entertainment, hotels Once it has achieved world-class standards, even if prices continue to rise, tourists will still be able to enjoy sightseeing, shopping, gambling and entertainment. Now that the epidemic has recovered rapidly and the economic prospects are optimistic, Hong Kong can learn from it.
Both Hong Kong and Macao implement one country, two systems. Macao has done an even better job in leveraging its unique status and advantages. Although Macau has a large number of tourists and complicated tastes, the city’s public security is good and its citizens are law-abiding. This city is working hard to develop the economy and improve people’s livelihood, and the prosperity of the gambling industry has attracted global attention. Looking at Hong Kong, as an international financial center, it is even more necessary to have a large number of foreign-funded enterprises and financing platforms. To restore the economy, we must revive our main businesses, the real estate market and the stock market, and develop innovative technology industries on this basis.
Take the property market as an example. A prosperous property market in Hong Kong means booming transactions. This city has a large population and a huge demand for housing. The normal development of the property market not only improves the living environment of citizens, but more importantly, drives all walks of life and allows other people to live. The industrial chain has also improved. However, today Hong Kong is facing a severe test. When I wrote this, I was shocked to hear that the fiscal deficit in the first eight months of this fiscal year was as high as 160 billion yuan. The situation is very worrying. Just relying on sending money to boost the economy is no longer the answer. The authorities should find ways to maintain sources of income before reserves are exhausted.
It is recommended to optimize the immigration policy and all funds can be invested in industrial and commercial properties
Macau can succeed as long as it does a good job in the gambling industry, and Hong Kong should start by reviving its own industry. The key now is how to get the property market transactions back to the starting point? If the number of transactions in the past normal period can be maintained, that is, the monthly building transaction volume is about 7,000 to 8,000, it is guaranteed that Hong Kong’s economy will definitely improve. The public’s demand is very simple. They hope that the Hong Kong government can do one thing seriously. If the property market continues to be stagnant and the land revenue that produces golden eggs is wasted, nothing else will be good. After several years of constant calls from the outside world, the Hong Kong government finally made concessions and relaunched the capital investor entry scheme. However, there is still room for improvement in measures. For example, within the investment quota of HK$30 million, it would be better if funds can freely choose to purchase industrial and commercial properties. Allowing funds to support the industrial and commercial market is very important to Hong Kong’s economy; and Hong Kong’s talent policy has begun to take effect, with 81,000 Experts have already arrived, and it is estimated that there are about 180,000 people with their families living in Hong Kong. Under the “exemption first and tax later” measure, this new force of talents is a strong supporter of the property market.
In today’s real environment, financial officials do not have to worry about a rebound in property prices. In fact, it is impossible to rebound. However, they must believe that it is not difficult to activate the real estate market. As long as the measures are opened a little more and there is no need for any money distribution, the remaining Some of the “hot tricks” of the government should also be withdrawn. Now that the historical tasks have been completed, there is no need to linger on the measures required to manage the property market, and no one from the outside world will try to persuade them to stay.
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2024-01-01 02:49:01
