The amount of engineering in the next five years will reach 300 billion yuan.
The Hong Kong Government has invested heavily in infrastructure projects in recent years. The overall construction volume of Hong Kong in the next five years will maintain an average annual level of $250 billion to $300 billion, including a large number of public and private housing developments and the development of various hospitals. Reconstruction plan, new town expansion, airport third runway, etc. The Financial Secretary, Mr. Chen Maobo, said that the demand for the construction industry is very high and that the employees have a broader development prospect.
Chen Maobo said in his blog yesterday that he had set aside HK$1 billion in the Budget to set up the “Construction Industry Innovation and Technology Fund”. He started accepting applications last week and thousands of qualified construction companies or consultants, especially SMEs. For the purchase and use of building information simulation (BIM), assembly and synthesis (MiC), steel prefabricated components, automated machinery and digital technology and other equipment and technology, apply for funding, the proportion of funding can reach 70%, if the new product is developed by the local With a funding ratio of more than 75%, the fund will also support practitioners and local students in relevant disciplines to participate in the construction of science and technology training and study activities. The public works projects of more than 30 million yuan this year must also adopt BIM.
The three-run system is expected to be completed in 2024.
The Chief Secretary for Administration, Mr Matthew Cheung Kin-chung, also said in the past 10 years that the investment in infrastructure has increased from more than $20 billion a year to over $80 billion. In 2016/19, the total expenditure of the Hong Kong Government is estimated to be $557.9 billion, of which 15% and about $8.56 billion will be allocated to infrastructure projects.
In the next decade, the total investment of the Hong Kong Government in infrastructure will exceed one trillion yuan. He said that a number of infrastructure projects will be completed in Hong Kong. The construction of the three-runway system of the airport is expected to be completed in 2424. After the three-run operation, the passenger traffic handled by the Hong Kong International Airport is expected to reach 100 million passengers per year. From the current increase of about 5 million tonnes to about 9 million tonnes, it will eventually achieve the long-term goal of handling 102 flights per hour.