Hong Kong to raise supply of public housing

Hong Kong

HONG Kong Chief Executive Leung Chun-ying said the government raised its target for new housing supply, dismissing calls from developers to lift property curbs as prices are still too high.

"We should continue to tackle the housing problem head-on and must not concede," Mr Leung said in his annual policy speech to lawmakers on Wednesday. Prices and rentals are "still beyond what people can afford", he said.