The Development Bureau of the Hong Kong Special Administrative Region Government announced on the 29th the establishment of Hung Shui Kiu Industrial Park Limited, responsible for the development and operation of a 23 hectare industrial park located in Hung Shui Kiu, the northern metropolitan area. The company is expected to commence operations in the middle of next year. Director of the Development Bureau, Ning Hanhao, stated that the establishment of an industrial park company wholly owned by the SAR government can enable the SAR government to participate in industrial construction and operation, play a leading role, better integrate market forces and utilize public-private partnership models, and accelerate the development of industries in Beidou. The industrial park company will develop the relevant land in different stages and modes. In addition to developing a portion of the land for the construction and rental of industrial facilities, the industrial park company may tender and sell a portion of the land within the industrial park for the enterprise to construct industrial facilities on its own. It may also establish a company with the enterprise to jointly develop and invest in industries through land participation or other forms of individual projects. The members of the board of directors and the CEO of the industrial park company must be appointed with the approval of the Chief Executive of the Special Administrative Region. It is reported that the Development Bureau plans to complete the preparation work for the industrial park company in the first half of next year. (New Society)