ýÿFollowing is the speech by the Financial Secretary, Mr Paul Chan, at the Hong Kong Institute of Surveyors 40th Anniversary Cocktail Reception today (March 22):

Francis (President of the Hong Kong Institute of Surveyors, Mr Francis Lam), distinguished guests, ladies and gentlemen, 

     Good evening. 

     It is a pleasure to be here, to join you in celebrating the 40th anniversary of the Hong Kong Institute of Surveyors (HKIS).

     The surveying profession has made remarkable contributions to Hong Kong's development. And your Institute has been a driving force in this continuing process with a membership more than 11 000 professionals and students today.

     Over these four decades, you have nurtured generations of outstanding leaders and practitioners in the surveying industry. You have contributed to better construction and building standards, and tendered valuable advice on land development, urban renewal and town planning. 

     And you have also established longstanding ties with like-minded institutes and organisations all over the world. Through exchanges and discussions, you have been telling the good stories of Hong Kong to the world. 

     As you well know, the Government places a strong focus on land and housing supply, on economic growth and sustainability. In this, and much more, the Institute has been the Government's close partner and valuable sounding board. 

     Take, for example, the standard rates for premium assessment in NDAs (New Development Areas) and others. It was, an initiative first proposed by the Institute in industrial buildings and agricultural land well supported by infrastructure. 

     That, as we all know, was readily and positively accepted by the market. 

     And in working out the legislative amendments for lowering compulsory sale thresholds, the Institute outlined the pain points and helped us find appropriate solutions.

     Another example concerns land leases. The Government introduced, last December, a bill to standardise and streamline lease extension arrangements.

     And I'm grateful for the valuable suggestions made by the Institute in this regard. On the day the new legislation comes into effect – by mid-year, I hope – the Government will publish the extension of land leases expiring up to 2030. We'll do so regularly after that. 

     More than considered counsel, you contribute through constructive action. This year, the Institute and other professional organisations will partner with the Government to inspect high-risk buildings in old districts.

     Ladies and gentlemen, looking to the future, opportunities are wide open to the surveying profession. Mega-projects such as the Northern Metropolis are advancing fast. Other development projects will also progress as planned. 

     And consider the Greater Bay Area and the Mainland market beyond. In that respect, a registration system with Mainland authorities was launched three years ago, allowing surveyors to acquire equivalent qualifications in the Mainland, to provide direct service in the nine sister cities of the Greater Bay Area. I am glad to note that to date, 10 surveying consultants and 150 surveying professionals have completed their registrations.

     Ladies and gentlemen, I know you will treasure this very special evening.

     Once again, my congratulations to the HKIS on your 40th anniversary – on the major achievements you've accomplished over the years, and the many contributions to come. 

     And I wish you all the best of business, and health, in the coming year. Thank you.

Ends/Friday, March 22, 2024
Issued at HKT 21:39

NNNN