{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Lam: Hong Kong \u0026#39;sitting on a huge fiscal reserve\u0026#39;' data-url='/boclips/videos/5c54d602d8eafeecae200275' data-video-url='/boclips/videos/5c54d602d8eafeecae200275' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nLam: Hong Kong \u0026#39;sitting on a huge fiscal reserve\u0026#39;\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eHong Kong Chief Executive Carrie Lam said on Wednesday that Hong Kong is sitting on a huge fiscal reserve and has \"basically no debt\".              Lam was speaking at a conference in Hong Kong which was also attended by US Commerce...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eHong Kong Chief Executive Carrie Lam said on Wednesday that Hong Kong is sitting on a huge fiscal reserve and has \"basically no debt\".\u003cbr/\u003e              Lam was speaking at a conference in Hong Kong which was also attended by US Commerce Secretary Wilbur Ross the day before.\u003cbr/\u003e              Lam said there was pent-up demand from young people in Hong Kong for things like home ownership and political participation.\u003cbr/\u003e              She said that despite a 20-month long programme of community engagement, she could \"not bridge that gap\" between the government and Hong Kong's youth, but that Lam and her team would \"try very hard\" to do so.\u003cbr/\u003e            \u003cbr/\u003e\u003cbr/\u003e              Hong Kong - 27 September 2017\u003cbr/\u003e              1. Wide of Forbes Global CEO Conference\u003cbr/\u003e              2. Backdrop on stage reading (English) \"Forbes Global CEO Conference, The Next Century, September 26-27, Hong Kong\"\u003cbr/\u003e              3. Wide pan of conference\u003cbr/\u003e              4. SOUNDBITE (English) Carrie Lam, Hong Kong Chief Executive:\u003cbr/\u003e              \"Hong Kong SAR (Special Administrative Region) Government is very fortunate. We are sitting on a huge fiscal reserve. We have basically no debt. If we issue bonds that's merely to enrich the bond market, we don't need the money. Many people including US Secretary for Commerce, Mr (Wilbur) Ross, he came to see me yesterday, and I talked about all this infrastructure. He said, how do you finance this infrastructure? I said, we pay for it.\"\u003cbr/\u003e              5. Mid of stage\u003cbr/\u003e              6. SOUNDBITE (English) Carrie Lam, Hong Kong Chief Executive:\u003cbr/\u003e              \"And in the case like Hong Kong, it is also influenced by the high property prices, which make home ownership quite beyond the reach of young people. So, there is a lot of pent-up demand, a lot of pent-up unmet demand that has caused the unhappiness. Of course, political participation is also one of the factors that I would admit is something that the young people feel that we can do better. And that's why in the last term of government, I spent 20 months trying to engage with the community, including young people, even having a debate with five student leaders, on how Hong Kong's future constitutional development should go about. But, unfortunately, we could not bridge that gap, and that gap still exists. As a result, we could not have universal suffrage in the selection of the Chief Executive. But in this term of government, I hope that myself and my team of principal officials, will go all out through to connect with the young people, to understand them and to give them more opportunities to participate in government, in our advisory boards and committees, and also just in terms of start-ups, youth enterprises, more youth exchanges in the (Chinese) mainland and overseas. Whether that would produce positive results, I don't know yet. But I can promise you that we will try very hard.\"\u003cbr/\u003e              7. 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