Hong Kong Faces Standstill on Politics and Economy, Leung Says
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Hong Kong faces a standstill unless China-backed plans for restricted elections and measures to cool record home prices are implemented, Chief Executive Leung Chun-ying said in his first major address since pro-democracy protests divided the city.
The city will forgo having its first-ever election for the chief executive in 2017 if it can’t agree to China’s terms, Leung said. The public also needs to accept that an attempt to increase land supply for homes will mean making choices, he said. The city’s housing shortage is caused partly by lowered development intensity and land zoned for country parks in the past, he said.