31 October 2003

Mr Henry Tang Ying Yen, GBS, JP
Financial Secretary
12/F., West Wing
Central Government Offices
Lower Albert Road
Hong Kong

Dear Henry,

I refer to a report in the Apple Daily on 24 October 2003 regarding your remarks made in Beijing that the HKSAR Government is considering issuing bonds to finance infrastructure projects. 

I am in agreement with your views as reflected in this report. As I have always been suggesting to the government, our current worries on fiscal deficits should never obscure our future development needs. Indeed, major infrastructure projects, including the proposed Zhuhai-Hong Kong-Macau Bridge, can be financed by private finance initiatives (PFIs) or issuing bonds. 

I earnestly hope that the government will reach a decision very soon in adopting this new policy, particularly for expediting the construction of the Zhuhai-Hong Kong-Macau Bridge which is essential to the future development of Hong Kong as well as its future integration with the Pearl River Delta Region. 


(signed)
Ir Dr Raymond Ho Chung-tai