Hong Kong will provide more land for Starter Homes projects and add around 3,000 places in hostels within five years, where young tenants will be charged rent at around 60% of market level.
“We will be launching the Starter Homes projects again under the Land Sale Program in the next fiscal year.” General Manager John Lee Ka-chiu announced on Wednesday.
“More Starter Homes projects will help young people achieve their ownership aspirations, as more than 85% of former Starter Homes applicants were aged 40 or younger,” he continued.
The SAR will also explore ways to increase the supply of hostels, including subsidizing non-governmental organizations to rent suitable hotels and guesthouses to use as hostels. In return, they must commit to providing district or volunteer services to the community.
The government will identify suitable land sale sites and require developers to reserve a number of apartments to support YHS on a pilot basis.
The authorities will also regularize the GBA’s youth employment program and encourage participating companies to recruit and deploy Hong Kong university graduates to work in the GBA.
Young people in Hong Kong will benefit from entrepreneurial support and incubation services in the GBA through two funding programs under the Youth Development Fund, helping them meet the initial capital needs of their companies.
A youth engagement initiative will be introduced to involve more young people in public affairs and enhance their interaction and trust with government.
“I will encourage various government departments and professional ranks to form youth groups and regularly organize activities to enrich young people’s understanding of these government departments and professions,” Lee noted.
The Home Affairs and Youth Bureau will release the first edition of the Youth Development Plan during this year, aimed at giving young people love and care and nurturing a new generation of young people with an affection for the country and Hong Kong with global perspectives. .
The authorities will organize cross-school national education activities, with public schools taking the initiative to launch the first edition of the series of activities “Love our home; cherish our country” in accordance with the “Education event planning calendar National” published by the Office of Education.
In addition, a one-time grant of HK$60 million will be given to kindergartens joining the Kindergarten Education (KES) program to organize school activities that help students learn Chinese culture as early as their youngest age.
The government will extend the current interest-free loan repayment deferral for another year until March 31, 2025.