Hong Kongers to get equal rights in property purchases in Guangdong-Hong Kong-Macau Greater Bay Area

[Mista]

HONG KONG (CHINA DAILY/ASIA NEWS NETWORK) - A series of new policies will make it more convenient for Hong Kongers to live in the Guangdong-Hong Kong-Macau Greater Bay Area, including equal rights to buy property in the nine Guangdong cities in the region, Hong Kong's top leader said on Wednesday (Nov 6).

After the third plenary meeting of the leading group for the development of the Bay Area held in Beijing, Hong Kong Chief Executive Carrie Lam announced 16 policies that will make it easier for the people of Hong Kong and Macau to live, work, study and start businesses across the 11-city cluster.

The Hong Kong Special Administrative Region government welcomed the series of policy measures, which can benefit people from different sectors of Hong Kong society, Mrs Lam said.

One of the most noticeable policies is that Hong Kong and Macau residents will be treated as local residents when they buy properties in the nine Guangdong cities. Currently, they have to provide proof of their duration of residence, study or employment, or pay a certain amount of individual income tax and social insurance.

Meanwhile, the children of Hong Kong and Macau residents will share the same pre-primary education services, and participate in the same entrance examination for senior high school admittance as their mainland peers.

In addition, it will be easier for Hong Kong residents to use the mobile electronic payment services on the mainland, as well as cross-boundary wealth management and open mainland bank accounts. These measures could also further promote financial cooperation between the two places, Mrs Lam said.



Local young people will be the first to benefit. Mr Angus Ng, executive president of the Guangdong-Hong Kong-Macau Greater Bay Area Youth Association, said he believes that relaxing the purchase restriction provides a way to ease the plight of young Hong Kongers caused by the city's staggering housing prices.


Mr Ng also said that effective control measures should be taken to avoid a sharp rise in mainland housing prices, which would adversely affect local mainland residents' property purchases.

There are five policies and measures to support professional services, including legal, construction and insurance professionals, to practice in the mainland or to develop their businesses.

These policies, as well as the visa policies, reflect the determination of the Bay Area to pool top talents around the globe and create an international science and innovation hub, Mr Ng said.

The Shenzhen-Hong Kong Innovation and Technology Cooperation Zone at the Lok Ma Chau Loop will help attract more innovation and technology talents from both the mainland and overseas.

He hopes that Hong Kong's entrepreneurs and technology practitioners can find the right position and maximise their advantages in the Bay Area.

"We need to fully understand the policies not only in Hong Kong, but also in Guangdong province, and make full use of the policy support for the flow of talents, capital, goods, information, and so forth," Mr Ng said.

In addition, foreigners holding Hong Kong Permanent Identity Cards will be able to apply to mainland authorities for a visa or permission for residence with a validity of up to two to five years.

The measure will enhance the synergy effect of gathering talents in various cities of the Bay Area, strengthen Hong Kong's role as a talent hub for the region, and attract talents from around the world, said Mrs Lam.

"It's certainly positive that a policy like this targets specifically foreign permanent residents in Hong Kong," said Mr Tobias Zuser, an Austrian university lecturer in Hong Kong who plans to get his Hong Kong Permanent ID next week. "At the moment, there are some areas where they seem to be a forgotten community, which has hindered further integration."

Mr Zuser is a frequent traveller between Hong Kong and the mainland, as he had to do some fieldwork across the boundary. However, he can apply only for one-year visas.

Foreigners in Hong Kong face inconveniences as well, he said. "For instance, when it comes to using a cross-boundary online payment systems or booking and retrieving train tickets," Mr Zuser said.

If these barriers can be gradually lifted, it certainly will contribute to increased mobility of both Chinese and non-Chinese talents across the Bay Area, he added.

However, if the government hopes to attract more talents, they have to do more, he stressed. The new programme is limited to foreign permanent residents, so it may not have a big impact on attracting new talents, as they would first have to live in Hong Kong for a minimum of seven years, he said.

"Maybe in the long term it could be considered to expand the scheme to include temporary residents as well," Mr Zuser said.

https://www.straitstimes.com/asia/e...operty-purchases-in-guangdong-hong-kong-macau

 

[Mista]

A crying child has milk to drink.

 

[nang2]

A crying child has milk to drink.

That is just overstretched. Any progress in the unification of residency for all Chinese citizens is a step forward. What else do you want? Chinese remain fragmented?

 

[Mista]

That is just overstretched. Any progress in the unification of residency for all Chinese citizens is a step forward. What else do you want? Chinese remain fragmented?

Does a Beijinger get the same equal rights as a local when buying a property in Shenzhen?

I just read a comment on Weibo feeling unjust. Up to you to believe, but I recount. He's from other areas in Guangdong, lived in Guangzhou for 16 years as a migrant worker, paid years of social security, but he's still denied from many privileges which a HKer now has in the city which he has been contributing for 16 years, such as property rights. I'm not sure about education, healthcare and retirement. Is that fair?

 

[nang2]

Does a Beijinger get the same equal rights as a local when buying a property in Shenzhen?

I just read a comment on Weibo feeling unjust. Up to you to believe, but I recount. He's from other areas in Guangdong, lived in Guangzhou for 16 years as a migrant worker, paid years of social security, but he's still denied from many privileges which a HKer now has in the city which he has been contributing for 16 years, such as property rights. I'm not sure about education, healthcare and retirement. Is that fair?

Your logic is flawed. It makes you believe that if something is flawed, until it is COMPLETELY fixed, it is NOT worthwhile making incremental improvements. But it is not a black-and-white world.

 

[GeraltofRivia]

A great step to create a dynamic and prosperous great Bay Area.

 

[Mista]

Your logic is flawed. It makes you believe that if something is flawed, until it is COMPLETELY fixed, it is NOT worthwhile making incremental improvements. But it is not a black-and-white world.

Yeah I agree.

But how did you come to that conclusion just from my statement "A crying child has milk to drink"?

 

[nang2]

Yeah I agree.

But how did you come to that conclusion just from my statement "A crying child has milk to drink"?

Because it assumes this change is because of the child crying. I don't think there is enough evidence for that, is there?

 

[Mista]

Because it assumes this change is because of the child crying. I don't think there is enough evidence for that, is there?

At such a time, and before mainlainders, with the media claiming that the move can ease the plight of the housing crisis HK's youths are facing, yes I believe so.

 

[nang2]

At such a time, and before mainlainders, with the media claiming that the move can ease the plight of the housing crisis HK's youths are facing, yes I believe so.

That is just how media likes to piece hot topics together and cook up stories. Think about it. How would it ease the housing problem HK's youths are facing? They can neither afford houses in Chinese cities nor afford the long commute.

The best I can come up with is that it is a move to further integrate the population in that area. Integration helps prevent isolationism and separatism. Those who are to purchase real estates in Chinese cities are likely those who are retired or going to retire. Higher cost of housing in HK helps those who want to "downsize" to mainland China. They could maintain the same quality of life with extra cash in hand. Another group of people are likely those who are hired by Chinese companies. This policy encourages them to settle in China, which further helps integration.

Of course, in this way, INDIRECTLY, it may help ease the sky high cost of real estate in HK but it isn't guaranteed.

 

[Mista]

The best I can come up with is that it is a move to further integrate the population in that area. Integration helps prevent isolationism and separatism.

Of course the primary objective is to integrate the population in the area. But why does HK/Macau get the privilege first and before mainlanders, before even Guangdong people working in Guangzhou for years, who diligently paid their taxes and social insurance?

Because as you have said, integration helps prevent isolationism and separatism. HK has this issue, mainlanders don't.

 

[nang2]

Of course the primary objective is to integrate the population in the area. But why does HK/Macau get the privilege first and before mainlanders, before even Guangdong people working in Guangzhou for years, who diligently paid their taxes and social insurance?

Because as you have said, integration helps prevent isolationism and separatism. HK has this issue, mainlanders don't.

Nothing is perfect. In the beginning of economic reform, there were many dual-channel policies with one channel to maintain stability while the other channel to encourage new businesses and changes. A lot of unfairness in such policies. For bystanders, they may say the flourishing of new businesses and fast economic growth may be worth it. But for those who lose, nothing is worth their suffering.

 

[Mista]

A lot of unfairness in such policies.

And so I said, a crying child has milk to drink.

 

[nang2]

And so I said, a crying child has milk to drink.

Haha, you are too eager to explain things, even without sufficient evidence.

 

[Mista]

Haha, you are too eager to explain things, even without sufficient evidence.

Well if you say so, apparently thousands of Chinese think the same based on their reaction online.