Hong Kong to Borrow $115 Billion for Major Construction Push

Hong Kong plans to nearly double its debt limit to fund a wave of new infrastructure. The government is asking lawmakers to raise its borrowing cap to HK$900 billion (US$115 billion). Officials said the increased limit would cover construction costs for the next three years. This includes ongoing and new projects like transport networks and land development. Andrew Lai Chi-wah, a top treasury official, addressed a Legislative Council subcommittee on Thursday. He stated the government could seek more borrowing authority later if necessary. The current bond program supports long-term development plans. Raising the debt ceiling requires approval from the city's legislature.