Authorities open to backing universities issuing bonds to fund megaproject campuses

Hong Kong authorities are open to supporting universities in issuing bonds to fund the development of the proposed University Town in the Northern Metropolis, with lawmakers calling for a dedicated approval and credit rating mechanism. Financial Secretary Paul Chan Mo-po signalled the government’s intention during a meeting of the Legislative Council’s Finance Committee on Thursday, saying the issuance of a “tertiary education bond” to support the University Town’s construction would be...

By Matthew Cheng