Hong Kong is an international financial, trade and transport centre and a well-known shopping paradise. With our varied and vibrant economic activities, the demand for land is keen. We understand that adequate land supply and appropriate planning are essential for the sustainable development of our industries and economic activities, as well as the provision of job opportunities to different strata of society. In fact, we have been endeavouring to increase land supply to facilitate social and economic development and to strike a balance among different land use demands.
According to Census and Statistics Department figures, Hong Kong recorded real GDP growth of 43 per cent between 2004 and 2013. During the same period, however, the floor space for economic activities only reported a mild increase of more than 10 per cent. Over the past three years, in response to Hong Kong’s social and economic development needs, the Government has been taking a multi-pronged approach to increase land supply and build up a long-term land reserve. I would like to share with you some of our work in economic land use planning.
We are updating the Hong Kong 2030 Planning Vision and Strategy completed in 2007 by revising the short-, medium- and long-term development strategies based on the latest developments and demand and supply, and formulating the development strategy in the longer run to cater for the needs of social and economic development beyond 2030. The Hong Kong 2030+ study aims at providing an updated spatial planning framework for the future development of Hong Kong and setting out the broad strategic directions to be adopted by the Government in land supply and town planning.
Under the study, the Planning Department (PlanD) has commissioned professionals and is working with relevant bureaux and departments to review the land demand for Grade A office space, commercial, business and industrial uses. In addition, the future floor space and land requirements for Grade A office, business and industrial uses in Hong Kong will be updated with regard to such factors as local and regional economic trends, changing work practices, GDP forecasts and labour force projections in order to devise a broad spatial planning strategy and to meet the expected demand. During the process, the bureaux and departments concerned will provide views and information on different industries and economic activities in Hong Kong, so as to facilitate the analysis and forecasting of future economic land demand and supply, to support the implementation of the Government’s industrial or economic development policies and to make good use of our valuable land resources.
Furthermore, on enhancing the long-term economic and social development of Hong Kong, Lantau development is one of our key projects under study. At present, Lantau is the far end of Hong Kong’s westbound road and rail transport network. With the completion of the Hong Kong-Zhuhai-Macao Bridge and the Tuen Mun-Chek Lap Kok Link in the future, Lantau will become the confluence point of Hong Kong, Zhuhai and Macau. And with the connection of Lantau to the highway network of the Mainland, a one-day drive can take us to the border of Vietnam and this will form a brand new trade corridor linking up Hong Kong, the Mainland and the Association of Southeast Asian Nations countries. On the aviation front, the Hong Kong International Airport has long been the leading and most strategic international aviation hub within the Pearl River Delta area, with its services covering some 180 destinations around the world. The three-runway system under planning will further increase the capacity of our airport to cope with the future air traffic growth.
With its edge in land and air traffic connection and accessibility, Lantau has the potential to bring about substantial and long-term economic and social benefits for itself as well as for Hong Kong as a whole. To fully capitalise on such development potential, PlanD has commissioned consultants to conduct preliminary studies on the market positioning of major commercial sites in north Lantau, including the topside development at the Hong Kong Boundary Crossing Facilities island of the Hong Kong-Zhuhai-Macao Bridge, the Tung Chung New Town Extension and the reclamation projects at Sunny Bay and Siu Ho Wan. On the other hand, the Airport Authority is also studying the North Commercial District development of the airport island. In the long run, these development projects will provide more commercial and residential land for Hong Kong to meet our various social and economic development needs.
To sum up, we will continue to enhance the economic land use planning in Hong Kong so as to support the sustainable development of various economic activities and enhance Hong Kong’s competitiveness.
26 April, 2015
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