Response Statement by URA Chairman to CE's Policy Address

The Chairman of the Urban Renewal Authority, Mr Edward Cheng, makes the following remarks in response to the Policy Address of the SAR Chief Executive:

• The Urban Renewal Authority is much encouraged by the policy on urban renewal announced by the Chief Executive in his Policy Address today. The URA welcomes the policy and will work to the best of its ability to support the implementation of his policy.
  
  
• The URA particularly welcomes the Chief Executive's announcement that the Hong Kong Housing Society would join hands with the URA in the prevention of urban decay by launching a 10-year, $3 billion Assisted Building Management and Maintenance Scheme. With an estimated 11,000 buildings lacking owners' corporation or any other form of proper management, the urban decay problem is acute and cannot possibly be solved by the URA or any organisation single-handedly. The Housing Society's input is a much-needed shot in the arm. In co-operation, the URA will further strengthen its existing rehabilitation incentive and loan/grant schemes and will work hand in hand with the Housing Society to provide the best possible assistance to needy residents in the old districts.
  
  
• In his Policy Address, the Chief Executive reiterated that the SAR Government would, through its policy bureaux and departments, continue to work hand in hand with the Authority, in order to speed up urban renewal and building maintenance. The URA will, for its part, significantly increase its resource allocation to its Five-year Corporate Plan to further speed up the renewal programme.
  
  
• The Chief Executive has also mentioned that "The city itself becomes a brand" - a new dimension and concept regarding the contributing role that urban renewal can play in fostering the development of cultural and creative industries. The URA recognises the importance of this concept and will conduct a detailed study this year with a view to implementing the concept in one of the old districts.
  
  
• Urban renewal is a multi-faceted mission, including fundamentally the aims to help the under-privileged residents improve their living environment and trigger a new life in the local economy of the old districts. The URA will press on with its mission and also make its best endeavours to contribute to creating more employment opportunities and fostering creative and cultural industries.