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Critical readWhat happened. The city of Hong Kong has announced measures to promote digital economy and regional economic growth behind the Shenzhen Port. The Ministry of Cultural Assets has declared that the commercial offer in the metrology project, which plans to install 1 million square meters of economic surface area, is mainly aimed at innovative and technological industries, not traditional markets. This decision refers to the increasing uncertainty in the real estate market where traditional offers have been unable to cope with high unemployment.
The metrology project promotes innovation and technology, contrasting with the traditional offering's inability in non-primary market areas of the real estate market. The commercial offer in the metrology project was designed to stimulate digital economy and regional economic growth behind the Shenzhen Port. This decision refers to the increasing uncertainty in the real estate market, where traditional offers have been unable to cope with high unemployment.
The statistics show a significant increase in unemployment in traditional markets. Specifically, the Department of Valuations and Appraisals data shows that the private retail sector's unemployment rate was 17.6% in 2025, the highest in more than four decades. The prices and incomes of commercial buildings have declined by respectively 13.6% and 3.2% in the fourth quarter of 2025.
Secretary Bernadette Linn Hon-ho of the Ministry of Cultural Assets emphasized that the commercial offer in the metrology project, with an area of 1 million square meters, is mainly aimed at innovative and technological industries. This contrasts with the traditional offer's incapacity in non-primary market areas of the real estate market. The metrology project, which plans to install 30,000 hectares of land, aims to transform approximately 74.132 acres of land into an innovation and technology center and serve as an economic engine.
This project will take place in an environment different from the traditional one, where traditional commercial offers cannot face high unemployment. Linn added that the government was preparing the second 'large land projection' for the Fanling North area, where interested developers had submitted interested offers, following the pilot phase announcement in Hung Shui Kiu in August. She also said that the government continued to implement diverse approaches to facilitate enterprises in the metropolitan region and continued to execute administrative measures to reduce barriers and accelerate development progress.
The second legislative debate day saw also discussions on governance AI risks and tourism. These decisions show a significant change in Hong Kong's urban strategy, which now focuses on digital growth and promotion of innovative and technological industries, in contrast with the traditional offering's inability to maintain traditional markets at a high level.
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