陈茂波：债券发行的政策只用于基建投资 政府债务水平仍属非常稳健水平

Core Viewpoint - The Hong Kong government plans to issue bonds to fund infrastructure projects, particularly in the Northern Metropolis, while maintaining a stable debt-to-GDP ratio over the next five years [1] Group 1: Bond Issuance and Debt Management - The bond issuance policy will be exclusively for infrastructure investment and will not be used for daily operational expenses [1] - The government debt-to-GDP ratio is projected to rise from 14.4% to approximately 19.9% in five years, which is still considered a robust level [1] - The government expresses confidence in its ability to repay the debt through economic growth and investment returns [1] Group 2: Development of Northern Metropolis - The development of the Northern Metropolis is being accelerated to attract businesses, technology companies, and manufacturing industries, which will contribute to job creation, tax revenue, and GDP growth [1] - Investment in the Northern Metropolis is viewed as a key growth engine for Hong Kong over the next 20 years [1] Group 3: Economic Stability and Geopolitical Risks - The financial system in Hong Kong is described as stable and robust, but geopolitical uncertainties are expected to persist [1] - The government aims to ensure sufficient buffers to address potential market fluctuations arising from challenges, such as last year's tariff wars, which led to significant capital inflows into Hong Kong [1] Group 4: Community Engagement and Land Use - In response to community concerns regarding the redevelopment of Tai Po Hung Fuk Court, the government has conducted surveys to understand residents' preferences [1] - Various options have been provided to residents, emphasizing that land will not be wasted; if residential construction does not occur on the original site, it may be repurposed for community facilities or parks [1]