Hong Kong is proactively working to strengthen its position as a leading international financial centre, with HKEX reviewing feedback on new measures. The city is also developing its commodities ecosystem, using gold as a strategic entry point, with plans for expanded storage, refinery capacity, and reactivating a US dollar gold futures contract.
The Hong Kong government is confident that at least 75% of homeowners in Wang Chi House – the only block unscathed in the Wang Fuk Court fire – will accept its buy-back package by end of June. Deputy Financial Secretary Michael Wong Wai-lun said 77% of owners have expressed initial interest in selling their property rights. The offer requires 75% of owners to sign an official letter of acceptance by June 30 and agreement for sale and purchase by October 15.
Hong Kong authorities have warned homeowners in the only undamaged block of Wang Fuk Court estate that rejecting the government's buy-back offer will lead to significant difficulties in property management and maintenance. Deputy Financial Secretary Michael Wong Wai-lun said the government could invoke legislation to acquire all property titles if at least 75% of owners agree by June 30. About 77% of the 248 flat owners in Wang Chi House have indicated initial interest in the scheme.
