Edward Yau: The Hong Kong government will submit a draft amendment to the regulations within the year to facilitate the privatization or restructuring of the Housing Trust Fund.

The Financial Secretary of the Hong Kong Special Administrative Region Government, Paul Chan, stated that the Hong Kong government and the Securities and Futures Commission will continue to promote the development of real estate investment trust (REIT) market. In addition to striving to include REITs in the mutual recognition arrangement as soon as possible, the government will submit a bill to facilitate the privatization or restructuring of REITs within the year. Furthermore, the Hong Kong government will grant exemption from stamp duty on non-residential properties for REITs preparing to go public, with a bill expected to be submitted in the first half of next year.