HKIC set to come up as key highlight in finance chief Paul Chan’s budget blueprint, sources say
Sources told the South China Morning Post that the HKIC would come up as a key highlight in Financial Secretary Paul Chan Mo-po’s budget statement to be delivered on Wednesday.
It will be tasked to work closely with regional and international long-term capital to “guide investment towards high-quality commercial property projects” that would be in sync with the city’s industrial positioning and then work with other investors to go into targeted sectors.
The moves were a clear sign of confidence in HKIC and an expansion of its role, while still staying strictly within the investing sphere rather than property ownership or management, the source said.
HKIC, first announced in Chief Executive John Lee Ka-chiu’s 2022 policy address, was set up to use the government’s reserves to boost the economy.
