By Niu Sanyuan& Shao Ting, Institute of Market Economy, DRC

Research Report,No.203, 2019 (Total 5703) 2019-11-19

Abstract: On June 19, 2019, the State Council held an executive meeting and it was proposed at the meeting that “according to the strong aspirations of the people, the government needs to speed up the renovation of old residential areas in both urban areas and rural towns and takes it as a major livelihood project and a development task”. At present, under the background of increasing downward pressure on the economy, the renovation of old residential areas in urban cities and rural towns can not only meet people’s expectations, but also boost effective investment. This is a major policy measure to ensure steady growth, increase investment and improve people’s livelihood. Hong Kong’s drive in rehabilitating the old residential buildings launched in 2000 has much in common with the renovation of old residential areas in inland cities and towns. HKSAR Government has achieved some positive results in the rehabilitation of old residential buildings through the establishment of a coordinated mechanism between various departments, a sound legal and regulatory system, a full-fledged institutional arrangement, the provision of adequate financial support, flexible funding schemes and the increased transparency of policy-making process. The above-mentioned measures adopted by HKSAR Government in addressing the difficulties relating to rehabilitation projects make good reference for advancing the renovation of old residential areas in inland urban cities and rural towns.

Key words: rehabilitation of old buildings, the renovation of old residential areas in inland cities and towns, Hong Kong