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  • 3 Post By chingleutsch

Proposal to cap shop rents labelled ‘communist’

  1. #1

    Join Date
    Jan 2011
    Posts
    2,107

    Proposal to cap shop rents labelled ‘communist’

    Regina Ip’s proposal to cap shop rents at Hong Kong public housing estates run by Link Reit is labelled communist
    Regina Ip... floated the idea of legislating to limit rent increases for stores in malls managed by the Link Reit, Asia’s largest real estate investment trust.
    But allies and adversaries alike on Monday came out in opposition to the idea, saying it would damage the city’s free-market credentials. One pro-business politician even called it communist.
    Chung added: “Regulating rent increases for one particular private listed company sounds more like a socialist or communist idea.”

  2. #2

    Join Date
    Oct 2012
    Posts
    4,078

    Shouldn't this be under the "China is a basket-case" thread?


  3. #3

    Join Date
    Nov 2009
    Location
    Tuen Mun
    Posts
    1,741

    For the sake of the housing estate residents, I'd be happy to see this bit of "communism." LR enjoys its virtual monopoly in poorer areas like Tin Shui Wai, jacks the rents up, and the poor have some of the most expensive branches of regular shops in town. Hardly seems fair that Mr & Mrs Chan in their 80s need to travel to Tuen Mun or Yuen Long in order to buy reasonably priced groceries.

    rani, hullexile and HK_Katherine like this.