Winnie Ho Reports Progress on Hong Kong Housing Initiatives During Beijing Visit

S for Housing calls on Hong Kong and Macao Affairs Office of State Council and Ministry of Housing and Urban-Rural Development in Beijing

​The Secretary for Housing, Ms Winnie Ho, called on the Hong Kong and Macao Affairs Office (HKMAO) of the State Council and the Ministry of Housing and Urban-Rural Development yesterday (June 27) on the last day of her visit to Beijing.

Ms Ho first called on Deputy Director of the HKMAO of the State Council Mr Nong Rong, and reported on the work of the Housing Bureau (HB). These include intensified efforts to combat tenancy abuse to ensure the prudent use of public housing resources. Around 8 700 public rental housing units have been recovered so far. On Light Public Housing (LPH), the progress of constructing about 30 000 units in 2027 is good. The intake of the first LPH project with about 2 100 units at Yau Pok Road, Yuen Long, has been 100 per cent completed smoothly, while the project at Choi Hing Road, Ngau Tau Kok, with about 2 300 units, will commence intake in phases by the end of this month. The remaining projects are also pressing ahead at full speed. The HB will introduce the Basic Housing Units Bill into the Legislative Council for the first and second readings in July, and strive to complete the legislative work within this year, so as to ensure full implementation of the regulatory work for eradicating substandard subdivided units in Hong Kong and provide a reasonable and safe living environment for the grassroots, the earlier the better. The HB will continue to refine housing policies with sustained efforts, break through constraints to improve people's livelihood, and enhance their well-being.

She then called on the Minister of Housing and Urban-Rural Development, Mr Ni Hong, introduced the work of the HB, and shared the adoption of advanced construction technologies from the Mainland in Hong Kong and the outcomes. She mentioned that the HB will organise a series of activities and visits this year, including an international symposium to be held in Hong Kong in November, to showcase to the world the latest developments of construction technologies in Mainland China and Hong Kong. The HB will fully capitalise on Hong Kong's unique advantages of connecting with both the Mainland and the rest of the world and play the role of a "super connector" and a "super value-adder". She expressed hope that friends from around the world could attend the symposium to be hosted by Hong Kong at the end of this year.

Concluding the visit, Ms Ho said, "The visit not only provided an opportunity to showcase the achievements of the collaborative development of Hong Kong and the Mainland construction industries to experts and scholars from different regions at the Asia-Pacific Network for Housing Research 2025 Conference; it also strengthened exchanges between Hong Kong and the Mainland on smart construction, smart property management, community building and housing policies. In addition, echoing the Housing•I&T initiative of the HB this year, this trip enabled us to gain a better understanding of the latest developments of advanced technologies on the Mainland. I encourage the industry to use public housing as a testing ground for trials of new technologies, and to research and develop innovative construction technologies and smart management technologies that are locally applicable and globally accepted, in order to provide a better living environment for our people."

Ms Ho returned to Hong Kong last night.

S for Housing calls on Hong Kong and Macao Affairs Office of State Council and Ministry of Housing and Urban-Rural Development in Beijing Source: HKSAR Government Press Releases

S for Housing calls on Hong Kong and Macao Affairs Office of State Council and Ministry of Housing and Urban-Rural Development in Beijing Source: HKSAR Government Press Releases

S for Housing calls on Hong Kong and Macao Affairs Office of State Council and Ministry of Housing and Urban-Rural Development in Beijing Source: HKSAR Government Press Releases

S for Housing calls on Hong Kong and Macao Affairs Office of State Council and Ministry of Housing and Urban-Rural Development in Beijing Source: HKSAR Government Press Releases

Speech by FS at CUHK EMBA Annual Conference

Following is the speech by the Financial Secretary, Mr Paul Chan, at the CUHK EMBA Annual Conference today (May 9):

Professor Dennis Lo (Vice-Chancellor and President, the Chinese University of Hong Kong (CUHK)), Professor Lin Zhou (Dean, CUHK Business School), Macy (Chairperson of Organizing Committee, Ms Macy Chan), Michael (Chairperson of Organizing Committee, Mr Michael Chan), CUHK EMBA alumni and students, business leaders, distinguished guests and friends,

Good evening.

Addressing a room full of Executive MBA students and graduates is both an honour and a privilege. There is a particular kind of ambition in this room — one that is not content with success alone, but driven to understand it more deeply, in the belief that better ideas lead to greater impact.

That kind of commitment — to learning, to growth, to asking harder questions — is precisely what today's conversation is about.

The theme of this conference, which focuses on innovation and agile leadership, could not be more timely. Most of us here have lived through the Internet age and the smartphone revolution, which made communication faster and more seamless than anyone had imagined.

Today, the rise of AI places us at a more fundamental tipping point. Technology is not merely changing the answers — it is redefining the questions themselves.

Consider what is already within reach. An AI assistant can learn your preferences, curate a personalised shortlist, and simply ask for your confirmation. We should even ask whether the smartphone and the search engine will remain our primary gateways to the digital world, or whether something altogether new is already taking shape.

To draw an analogy, the power of technology does not lie in drawing the old map with greater precision. It lies in revealing how much of that map remains uncharted — and in showing us that entirely new maps, with new co-ordinates, are being drawn.

This redefinition is unfolding across three dimensions simultaneously.

First, the redefinition of products. Products are no longer discrete, standalone objects. A smart car is a vehicle, but also a mobile platform for data. An insurance policy can be a contract, but equally a dynamic reflection of health data. Innovation today is born from cross-sector convergence and continuous evolution.

Second, the redefinition of services. Services are no longer delivered solely by enterprises. They emerge from collaborative networks of people and AI. But the more profound shift is in what customers now expect. In the past, good service meant reaching the right person quickly. Today, customers expect a solution that anticipates their needs before articulating them. This requires a new architecture of service delivery: human and machine, with AI handling the scale, the speed, and the personalisation that no human team alone could sustain.

Third, and most importantly, the redefinition of business models. In the past, we sought optimal solutions within established frameworks — when demand rose, we expanded capacity; when service needs grew, we opened more branches. Technology invites us to break out of those frameworks entirely. Intelligent manufacturing means that "economies of scale" is no longer the only answer; flexible supply chains have made customised, on-demand production the new normal.

These three redefinitions are opening a commercial frontier unlike anything we have seen before. But if the benefits of technology accrue only to a small circle, its power remains fundamentally constrained. This brings me to the second message I want to leave with you today: inclusivity.

Inclusivity is not charity. Yet it is the smartest business strategy available. The unmet needs of the broader public represent the largest and most underserved market opportunity in existence. When you make quality healthcare, education and financial services accessible and affordable to ordinary residents, you are not serving a group in need of handouts — you are unlocking a vast market that traditional business models have consistently overlooked.

Hong Kong has a distinctive role to play here. We can be a co-architect of standards, a hub for capital, and a bridge between innovation and real-world deployment — from clinical validation of smart healthcare, to green technology financing, to regulatory sandboxes for fintech. Our contribution draws not only on institutional strengths and international networks, but on our genuine commitment to broad-based participation.

Yet inclusive products and services are only the first step. The deeper dimension is empowerment.

History reminds us that the dividends of technological revolution need to be actively guided to reach the many. In the age of steam, and again in the Internet era, early gains concentrated among capital owners and top-tier talent. But today we have the opportunity to write a different story. AI, as an amplifier of human capability, is already enabling what was previously unimaginable: a solo entrepreneur, with the right tools and the right vision, can build a unicorn.

In other words, the unit of competitive advantage is shifting — from the size of your team to the skill with which you orchestrate your tools.

Our mission should be to make that shift available to everyone. To turn individual readiness into collective prosperity, and to ensure that the productivity gains of AI flow broadly across the society.

This is precisely why, in this year's Budget, I placed such emphasis on the "AI Training for All" initiative.

We are not trying to turn everyone into an engineer. We are ensuring that workers, managers, SME (small and medium-sized enterprise) owners, and ordinary residents become capable collaborators with AI: people who can access it, use it effectively, and put it to work as their assistant.

That may sound ambitious, but consider this: if AI can one day be as intuitive as the smartphone, then mass adoption is not difficult to imagine at all. Just as computers once migrated from specialist facilities into offices and homes, AI will find its way into everyone's daily work and life.

For business leaders, it may be tempting to think of AI as "digital employee" that can replace existing workers. But think of a different framing: equipping your workforce with powerful digital assistants can achieve productivity gains, while also freeing your people to do what humans do best — create, imagine and innovate.

Companies that take those extra steps, and think those extra moves ahead, will find that an empowered workforce is also a more innovative one.

All in all, the power of technology must ultimately be measured by its contribution to inclusive growth. And inclusive growth, in the end, depends on, yes, commercial acumen — but also empathy, compassion, and the conviction that a rising tide should lift all boats. I can see that those qualities live in this room.

I will close with this thought. Someone once joked that economists know the price of everything and the value of nothing. With AI, let us never fall into the same trap — in our race to price every efficiency gain, let us not lose sight of the deeper value we are trying to create: a society where the fruits of innovation are broadly shared, and where technology lifts not just the fortunate few, but everyone willing to reach for it.

So here is my ask: let us grow the pie together. And make sure we cut it well.

Thank you very much.

Source: AI-found images

Speech by FS at CUHK EMBA Annual Conference Source: HKSAR Government Press Releases

Speech by FS at CUHK EMBA Annual Conference Source: HKSAR Government Press Releases

Source: AI-found images