Assessment Committee for the Funding Scheme to Support Transitional Housing Projects by Non-government Organisations convenes meeting
A meeting of the Assessment Committee for the Funding Scheme to Support Transitional Housing Projects by Non-government Organisations, chaired by the Under Secretary for Housing, Mr Victor Tai, was convened this afternoon (August 4).
The Assessment Committee agreed to subsidise the development of the transitional housing (TH) project at the former Hong Kong Taoist Association Wun Tsuen School at Upper Ngau Tau Kok Estate in Kwun Tong by the Christian Family Service Centre. With a total funding of $66.55 million, the project is expected to provide 121 units.
As at end of July 2026, over 21 150 TH units have been put into service. TH will supplement Light Public Housing (LPH) to provide temporary accommodation to eligible applicants in need of adequate housing. Eligible TH applicants include Category A tenants (i.e. persons/families having been waiting for traditional public rental housing (PRH) for not less than three years; families with newborns andhavingbeen waiting for traditional PRH for not less than two years); Category B tenants (i.e. persons/families of other categories); and Category C tenants (i.e. residents of subdivided units (SDUs) affected by alteration works in SDUs, or future enforcement actions under the Basic Housing Unit (BHU) regime, who have been assessed to have an urgent need for temporary rehousing). TH and LPH, coupled with the current-term Government's ongoing efforts to substantially increase the supply of public housing, have enabled us to tackle the long-standing issues of substandard SDUs through the implementation of the BHU regime.
Assessment Committee for the Funding Scheme to Support Transitional Housing Projects by Non-government Organisations convenes meeting Source: HKSAR Government Press Releases
Speech by SCED at Juventus Business Reception
Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the Juventus Business Reception today (August 4):
Chairman Ferrero (Chairman of Juventus Football Club, Mr Gianluca Ferrero), Deputy Consul General Gubert (Deputy Consul General of Italy in Hong Kong, Mr Giulio Gubert), distinguished Juventus players, distinguished guests, ladies and gentlemen,
Buonasera. It is a great pleasure to join you this evening at the Juventus Business Reception. My sincere thanks to Juventus Football Club for bringing together business leaders, partners and friends from Hong Kong, Italy and across Asia.
Hong Kong is a vibrant and dynamic city where East meets West. It is a place where different cultures come together, where ideas are exchanged, and where people and businesses from around the world can connect and create new opportunities. From the bustling streets of Central and the iconic atmosphere of Lan Kwai Fong to our world-class cultural, sporting and entertainment events, Hong Kong offers a unique blend of energy, diversity and international experiences.
At the same time, Hong Kong is an international business and commercial hub. With our strategic location, world-class infrastructure and highly open business environment, we connect the Chinese Mainland with the rest of the world and provide a gateway to opportunities across Asia. We offer the free flow of capital, goods, information and talent, a simple and competitive tax regime, and a robust legal system based on common law.
These strengths continue to attract businesses from around the world. The number of companies in Hong Kong with Chinese Mainland or overseas parent companies, as well as the number of start-ups, have both reached record highs in 2025, demonstrating strong international confidence in Hong Kong as a place to establish, expand and grow businesses. Many multinational enterprises have also chosen Hong Kong as the location for their regional headquarters, recognising our unique advantages as an international business hub.
Italy has long been an important economic partner of Hong Kong. We look forward to strengthening collaboration with Italian businesses and welcoming more enterprises to establish or expand their presence in Hong Kong. We are also delighted that Juventus chose Hong Kong as the home of its Asia Pacific headquarters in 2019, leveraging Hong Kong's connectivity to the Chinese Mainland, the Guangdong-Hong Kong-Macao Greater Bay Area and the wider Asia-Pacific region.
Last year, my bureau established the GoGlobal Task Force (Task Force on Supporting Mainland Enterprises in Going Global) to provide one-stop support to help Mainland enterprises leverage Hong Kong's unique strengths in expanding overseas. At the same time, this creates new opportunities for international businesses and professional services providers to work with Mainland enterprises through Hong Kong.
To our friends from Italy and around the world who are with us this evening, I warmly invite you to make use of Hong Kong's unique advantages and international connectivity to explore new opportunities, build new partnerships and grow your business in Asia. Whether you are looking to access the Chinese Mainland market or collaborate with Mainland enterprises in going global, Hong Kong is ready to be your partner.
Football, like business, has the power to bring people together. It connects communities, creates shared experiences and builds partnerships across borders. Beyond the excitement on the pitch, sport also serves as an important driver of economic activity.
The Hong Kong Special Administrative Region Government is actively developing the mega-event economy by attracting more world-class sporting, cultural and entertainment events to our city. The opening of the Kai Tak Sports Park marks a new chapter for Hong Kong's sporting and entertainment landscape. As a world-class integrated sports and entertainment venue, it provides an exciting platform for fans to enjoy international events, while creating new opportunities for businesses, visitors and the wider community.
The Hong Kong Football Festival kicked off last Saturday, bringing together renowned football clubs, players and fans from Hong Kong and around the world. We are delighted to welcome Juventus to Hong Kong as part of this exciting Festival. Together with other participating clubs, Juventus is helping to showcase Hong Kong's ability to host major international sporting events and bring people, businesses and communities closer together.
I am sure many of you here this evening, as well as football fans across the city, are looking forward to tomorrow's match at the Kai Tak Sports Park. I hope you will enjoy not only the excitement of the game, but also the energy, diversity and hospitality that Hong Kong has to offer.
Ladies and gentlemen, football teaches us that success is built on teamwork, trust and a shared vision. The same principles apply to business. Hong Kong will continue to connect people, businesses and markets, serving as a platform where partnerships are forged, opportunities are created, and businesses from around the world can grow together.
On that note, I wish Juventus every success during its stay in Hong Kong. I also wish all of you an enjoyable evening, fruitful discussions and continued success in your future endeavours. Grazie.
Source: AI-found images
