Hong Kong Housing Authority: Short-term cash flow pressure but overall financial stability, no plans to lay off employees.

According to the Zhitong Finance APP, on July 18th, the newly appointed Executive Director of the Hong Kong Housing Authority, Cai Hongxing, stated during a media meeting that the net asset value of the Hong Kong Housing Authority as of the end of March this year was HK$43.6 billion, including HK$20 billion in cash flow. He reiterated that the finances are robust, and even if there is pressure on cash flow in the short term, there are different methods of financing available. He also mentioned that the Hong Kong Housing Authority currently has no plans to lay off employees and will leverage technology to improve processes. Regarding the Hong Kong government's earlier collection of symbolic land premiums from the Hong Kong Housing Authority and the approval of two pieces of land through private treaty, he believes this will help enhance financing capabilities.