Secretary for Economy and Finance Lionel Leong Vai Tac said the government will ensure its future project investments through the China Development Bank and Guangdong Province are safe and effective. In March, the Secretary said during the Policy Address that such investment plans via Chinese units seek to increase the return rate of the city’s fiscal- reserve investment, indicating that these investments will be made prior to the establishment of the proposed Investment Development Fund. Talking to reporters on the sidelines of yesterday’s AL meeting, Mr. Leong said the government and Mainland parties are still studying projects to co-operate on, claiming he has not yet passed the city’s fiscal reserves for the parties to invest yet. He believes that the government will successfully invest in projects related to local livelihoods. In addition, he said he would ensure that investments are capital, interest and return-secured. Debate motion fails In fact, legislator Au Kam San initiated a debate motion on the investment plan at the AL yesterday, asking his colleagues to seek an explanation from the government on its investment policy. The legislator queried in what ways the government could ensure that the Chinese units were able to secure the investment capital and interests of the Special Administrative Region. However, Mr. Au’s motion failed to reach consensus with most of his colleagues. Of yesterdy’s 25 attending legislators only eight agreed that the government should offer an explanation of its investment plan. K.L.
—
