Raymond Kwok proposes easing of Greater Bay property clamps

Raymond Kwok Ping-luen, chairman and managing director of Sun Hung Kai Properties (0016), proposed that restrictions on Hong Kong and Macau residents be eases so they can purchase flats in nine cities in the Greater Bay Area.

He made the proposal to the third session of the 13th National Committee of the Chinese People's Political Consultative Conference, the country's top political advisory body.

Kwok, a political adviser, said it is difficult for Hong Kong residents to transfer money to the mainland, and that mortgage policies in the mainland have a higher threshold than in Hong Kong.