News Snapshot:
HONG KONG (BLOOMBERG) – China said Hong Kong’s future leader needs to tackle the city’s housing crisis in the latest sign that the Asian financial hub’s expensive residential real estate market is a priority for Beijing, as Chinese officials seek to reassert their legitimacy following unrest. With a national security law ensuring stability and prosperity in the city, Hong Kong’s housing problems should be “greatly improved” by 2049, Mr Xia Baolong, director of the Cabinet-level Hong Kong and Macau Affairs Office in Beijing, told a private gathering of the territory’s senior-most officials on Friday (July 16). Mr Xia was alluding...
