Core Viewpoint - The groundbreaking ceremony for the Yuen Long South residential project, a collaboration between China Resources Land and New World Development, marks a significant step in the development of the Northern Metropolis in Hong Kong [1][4]. Group 1: Project Development - The Yuen Long South residential project is located in the "high-end professional services and logistics hub" area of the Northern Metropolis plan, adjacent to a well-developed central area, indicating substantial development potential [3]. - The total floor area of the project is approximately 720,000 square feet, with phased development planned. The first plot has completed land premium procedures, allowing for nearly 280,000 square feet of buildable area, expected to be sold in the fiscal year 2027, providing around 700 residential units [3]. - The two plots combined will offer approximately 1,800 residential units to meet market demand for quality housing [3]. Group 2: Strategic Collaboration - Since 2022, China Resources Land has actively researched participation in the Northern Metropolis construction, organizing the "Runxin Construction·Building the Future" youth professional design competition to gather innovative ideas for the Northern Metropolis planning [3]. - In December 2023, a cooperation agreement was signed with New World Development to jointly develop the Yuen Long South project, demonstrating a commitment to collaborative efforts in the region [3]. - Future initiatives include hosting the "Spring Bamboo Lecture" in June 2024 to deepen research on industrial development in the Northern Metropolis and signing a general letter of intent for corporate participation in November 2024 [3].

以下文章来源于秦朔朋友圈 ，作者巫珩 秦朔朋友圈 . 秦朔朋友圈是由中国著名媒体人、财经观察家秦朔牵头创立的一个新媒体与专业服务品牌，包括微信公 众号、微博、视频节目、音频节目等。内容聚焦于经济、金融和商业领域，关注重点为全球和中国财经 商业热点、企业家精神、创新与发明创造、商业文明探索等。 来源丨 秦朔朋友圈 （ID： qspyq2015 ） 作者丨 巫珩 图源丨Midjourney 一个微妙的转折迹象，正在香港悄然发生。 2023年，香港特首李家超曾在《紫荆》杂志发文说，"如果说，2023年是疫后全面复常、急起直追 的一年，那么，2024年将是全力拼经济、加速谋发展、积极惠民生的一年"。 时隔两年，李家超又再次公开表示，香港整体安全已获保障，现阶段港府要全力以赴拼经济、 谋发 展、惠民生 。 自香港回归以来，由于特殊的地位，这里成为中国与世界接轨的重要窗口。而在过去几年，大国关系 风起云涌的时刻，我国香港也被外界视为大国角力的 "矛盾前线"。在这种情况下，安全至上变得尤 为重要。 然而，今年 5月， 国际调解院 落户香港。这是一个关键信号，说明在顶层的规划中，如今的香港， 更多是要发挥 "调解前线"的作用 ...

香港特区政府财政司司长陈茂波24日在河北雄安新区会见传媒时表示，香港推进北部都会区建设的做法 与内地高度契合，并具有可以互相借鉴之处。10月22日至24日，由陈茂波率领的特区代表团访问北京城 市副中心和河北雄安新区，考察内地主要新区的开发经验，以推进香港北部都会区规划建设及招商引资 工作。在河北雄安新区，代表团一行先后参访雄安新区启动区综合服务中心、北京科技大学雄安校区、 东西轴线雄安城际站调度指挥中心、雄安城市计算中心、雄安新区中关村科技园等多个标志性项目和平 台。陈茂波表示，此次考察对香港有三点启发，一是北京城市副中心和河北雄安新区充分展示了磅礴的 规划视野，以"一张蓝图绘到底"的战略定力，加上强大的统筹力和执行力，让建设和发展全速推进；二 是两个区的"片区开发"、产业布局、招商引资的经验，为香港提供重要参考；三是如何建设更有温度的 社区。（中国新闻网） ...

Core Points - The Hong Kong Railway Company (MTR) launched the Northern Link project, which is a significant transportation backbone for the Northern Metropolis [2] - The main line will connect the East Rail Line and the Tuen Ma Line, while the branch line will directly link to the Shenzhen Huanggang Port, establishing a third direct railway connection between Hong Kong and the mainland [2] - The project aims to enhance accessibility in the Northern Metropolis and strengthen cross-border connections with the mainland [3] Summary by Sections - **Project Overview** - The Northern Link is the largest railway project currently being promoted by MTR [2] - The project includes a main line and a branch line, with the main line serving as a public transport backbone for new development areas in the Northern Metropolis [2] - **Government and Company Statements** - The Secretary for Transport and Logistics of the Hong Kong SAR Government emphasized the project's role as a vital transport artery for regional development [2] - MTR's Chairman highlighted the importance of the Northern Link in enhancing accessibility and deepening cross-border ties with the mainland [3] - **Construction and Timeline** - MTR aims to complete the main line and branch line by 2034 [3] - The construction of the East Rail Line's Kwu Tung Station is progressing well, with structural completion expected in November 2023 and operations targeted for 2027 [3]

Investment Rating - The report maintains a "Positive" investment rating for the industry [9]. Core Insights - The Hong Kong government's recent policy report emphasizes the development of the Northern Metropolis, which is strategically significant due to its proximity to Shenzhen and potential to create numerous jobs and enhance productivity [2][6]. - The establishment of the Northern Metropolis Development Committee and its sub-groups aims to clarify the organizational structure for the area's development [10]. - The report highlights the introduction of social capital in the development process, utilizing mechanisms such as 1.5-level development and BOT (Build-Operate-Transfer) models to enhance project execution [10]. - Infrastructure projects in the Northern Metropolis are progressing rapidly, with significant transportation developments planned to support the area's growth [10]. - China State Construction International is expected to benefit significantly from the Northern Metropolis projects, with a projected market share increase in Hong Kong's infrastructure sector [10]. - The company maintains a double-digit profit guidance for 2025, with a projected dividend yield of approximately 6.6% based on a 33% payout ratio [10].

Core Viewpoint - The Hong Kong government is accelerating the development of the Northern Metropolis, which is seen as a strategic area for economic growth and innovation, with the establishment of the "Northern Metropolis Development Committee" to streamline processes and attract investment [1][2]. Group 1: Government Initiatives - The Hong Kong government has announced the formation of the "Northern Metropolis Development Committee" to expedite the development of the Northern Metropolis, which is expected to occupy one-third of Hong Kong's area and future population [1]. - The government aims to simplify administrative processes and introduce fast-track approval systems to encourage investment and development in the Northern Metropolis [2]. - The Northern Metropolis is positioned as a key driver for Hong Kong's future development, particularly in the context of collaboration with the Greater Bay Area [1][2]. Group 2: Economic and Development Potential - The Northern Metropolis is anticipated to create numerous job opportunities and enhance productivity, serving as a vital economic engine for Hong Kong [1][2]. - The area is expected to integrate various industries and foster innovation, with a focus on technology and research collaboration between universities and enterprises [3]. - The development of the Northern Metropolis is seen as a significant step towards transforming Hong Kong's traditional development model and addressing current challenges [2][4]. Group 3: Stakeholder Perspectives - Experts emphasize the importance of the Northern Metropolis as a strategic interface for Hong Kong's integration into national development, highlighting the need for collaborative efforts across various sectors [2][4]. - The establishment of specialized working groups under the Northern Metropolis Development Committee aims to enhance operational efficiency and focus on specific areas such as financing and higher education [2]. - Stakeholders from the real estate sector express optimism about the government's initiatives to lower construction costs and encourage market participation in the Northern Metropolis development [3].

Group 1: Economic Development Strategies - The Chief Executive of Hong Kong, John Lee, emphasized the government's strategies for developing the Northern Metropolis and industrial innovation in the 2025 Policy Address [1][2] - The Northern Metropolis is identified as a new engine for Hong Kong's economic development, with significant potential and a focus on expediting the introduction of industries and major projects [2][3] - The government plans to establish a Northern Metropolis Development Committee to streamline administrative processes and create a dedicated legal framework for its development [2][3] Group 2: Integration with National Development - The Policy Address outlines how Hong Kong can better integrate into the national development framework, enhancing its role as a platform for international cooperation and trade [3][4] - The focus will shift from merely attracting investments to actively seeking opportunities in emerging markets, reflecting changes in global trade dynamics [2][3] Group 3: Social Welfare and Living Standards - Improving the quality of life for citizens is a primary goal, with initiatives aimed at better housing, increased income for workers, and enhanced care for the elderly [3][4] - The report highlights the importance of economic growth as a foundation for improving living standards, which in turn stimulates market vitality and economic development [3][4] - Specific measures include increasing public housing supply, enhancing transportation systems, and reforming healthcare to ensure sustainability and accessibility [4]

Core Viewpoint - The Hong Kong government is accelerating the development of the Northern Metropolis, establishing a dedicated committee to streamline administrative processes and enhance resource allocation for this strategic area [1][3]. Group 1: Development Plans - The Northern Metropolis will be led by a committee chaired by the Chief Executive, with three working groups focusing on development models, university city planning, and comprehensive management of planning and execution [1]. - The Northern Metropolis encompasses approximately one-third of Hong Kong's total area, including developed towns and new development zones [1]. Group 2: Economic Potential - The Northern Metropolis is identified as a strategic development area with significant economic value and potential, aiming to enhance Hong Kong's integration with the Greater Bay Area [3][5]. - The area is expected to accommodate around 250,000 residents, representing one-third of Hong Kong's total population by the end of 2024, based on current population estimates [5]. Group 3: Innovation and Collaboration - The "Shenzhen-Hong Kong-Guangzhou" innovation cluster has ranked first globally, indicating a synergistic development model that enhances collaboration between these cities [4]. - The Northern Metropolis is positioned to improve technological and industrial connections with Shenzhen and Guangzhou, fostering closer geographical and industrial ties [3].

Core Points - The Hong Kong government is accelerating the development of the Northern Metropolis, which is expected to enhance cooperation between Hong Kong and Shenzhen, as well as contribute to the Greater Bay Area construction [1][5] - The Northern Metropolis will cover approximately 300 square kilometers and is projected to accommodate 2.5 million people, creating 500,000 new jobs [1][2] Group 1: Development Initiatives - A "Northern Metropolis Development Committee" will be established, chaired by the Chief Executive, to streamline administrative measures and expedite development [2][3] - The government plans to implement a fast-track approval system and adopt advanced construction methods to reduce costs and shorten project timelines [2][3] - The government will introduce flexible land allocation policies to encourage enterprise participation in the Northern Metropolis development [2][3] Group 2: Infrastructure and Connectivity - The government aims to enhance transportation infrastructure, including cross-border rail projects to improve connectivity between Hong Kong and Shenzhen [4] - The Northern Metropolis will significantly boost the confidence of industries to establish operations in the area due to improved infrastructure [4][5] Group 3: Technological Development - The government will accelerate the development of the Lok Ma Chau Loop Hong Kong-Shenzhen Innovation and Technology Park, with the first three buildings already completed [3] - The New Tin Technology City development plan will be announced within the year, focusing on top-level design and industry positioning [3]

Economic Overview - Hong Kong's economy showed robust performance in Q1 2023, with real GDP growing by 3.1% year-on-year, an acceleration from 2.5% in the previous quarter. Seasonally adjusted, the real GDP increased by 1.9% quarter-on-quarter [1][2]. Government Focus Areas - The Hong Kong government is concentrating on four main areas: consolidating market fundamentals, driving economic transformation through reform and innovation, exploring new markets and opportunities, and accelerating the development of the Northern Metropolis [1][2]. Economic Transformation - Hong Kong is building a new industrial ecosystem centered around artificial intelligence (AI), establishing the Hong Kong AI Research Institute, and enhancing key elements such as computing power, algorithms, data, talent, and funding [2]. Market Expansion - The government aims to strengthen ties with traditional markets while expanding into emerging markets in the "Global South." Policy tools will be flexibly adjusted to assist businesses in navigating challenges and seizing opportunities [2]. Northern Metropolis Development - There is an emphasis on accelerating the construction of the Northern Metropolis and enhancing collaboration with other cities in the Greater Bay Area to inject new momentum and development into the economy [2]. Economic Forecast - The forecast for Hong Kong's real GDP growth for the full year 2025 remains at 2% to 3%, with overall consumer price inflation projected at 1.5% and 1.8% respectively [2].