Background Paper
Land and Public Works in Hong Kong
Introduction
Land is one of the most important and
valuable commodities in Hong Kong, being the raw
material upon which all development
public or
private, residential, commercial, industrial,
. governmental or institutional - must take place.
Since all land in Hong Kong is held by the government,
its disposal by lease for private development is
also an important element of government revenue.
For the financial year 1984-85, the revenue from
land transactions is estimated at HK$4,230 million,
about 12.5% of total revenue : this high figure
includes an extraordinary final payment of
HK$1,900 million.
2.
The development of land by way of public
works projects is normally the government's largest
single item of expenditure, covering the formation
and reclamation of land; its servicing by roads,
drains, sewers and the provision of water supplies;
the construction of highways, bridges and tunnels;
port and airport works; public buildings; and the
disposal of liquid and solid wastes. For the financial
year 1984-85, the estimated expenditure on capital
works is HK$7,900 million, about 21% of the government's
total expenditure.