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GBA rule of law action plan released

The Action Plan on the Construction of Rule of Law in the Guangdong-Hong Kong-Macao Greater Bay Area has been released, the Department of Justice (DoJ) announced today.   Secretary for Justice Paul Lam explained that the action plan has two intentions, namely to underpin the guiding principle of “Three Interfaces, Two Connects & One Greater Bay Area”, and strengthen collaboration with the legal and dispute resolution sectors and other stakeholders to effectively implement policy measures set out in the plan.   Through mechanisms, regulatory frameworks and talent – the “three interfaces” – the DoJ said it will promote hardware and software connectivity in constructing rule of law in the bay area, co-operation between the various cities according to their respective strengths, and collaboration between different legal systems, thereby eventually achieving the goal of “one Greater Bay Area”.   Deputy Secretary for Justice Cheung Kwok-kwan, who is also the leading Hong Kong

Property sales dip 27.5%

The Land Registry recorded 3,189 sale and purchase agreements for all building units received for registration in February, down 27.5% compared with January and 46.7% lower year-on-year.
 

The total consideration for such agreements in February fell 32.9% from January, to $22.6 billion, while a 48.5% year-on-year decrease was recorded.
 

Of the agreements, 2,375 were for residential units, down 31.7% from January and 44.5% lower than a year ago.
 

The total consideration for residential units was $19.1 billion, a decrease of 31.3% compared with January and down 47.9% year-on-year.
 

There were 276,910 land register searches last month.


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