Profiles
Hui Wing Mau: Real estate regulations reasonable
By Ye Yanlin (China Daily Fujian Bureau)
Updated: 2010-05-19 14:59
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Hui Wing Mau said he had an objective and supportive attitude toward the regulating policies issued by the central government and the State Council in response to the overheated housing market.
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 Hui Wing Mau meets the media on the sideline of the 3rd International Conference of Fujian Business People May 17, 2010. [Photo/Zhu Xinxin] |
Current real estate corrections are aimed at cooling down soaring property prices and sustaining an orderly and stable development and will not hammer real estate developers, says Hui Wing Mau on the sidelines of the 3rd International Conference for Fujian Business People, May 17-18. Hui is chairman of Shimao Group, a real estate tycoon in Hong Kong, and he is the third-richest person in China, according to the 2010 Hurun rich list.
As a real estate developer, Hui's Shimao Group took the initiative on low-carbon practices and managed to be a volunteer in developing environmentally friendly real estate projects. Shimao Group has invested about 10 billion yuan in building houses and hotels in the Sino-Singapore Tianjin eco-city.
Hui said that this project was in compliance with sustainable development and stuck to the concept of "buildings and environment co-existing in harmony." Premier Wen Jiabao hoped the eco-city project would become a green heritage for the younger generation.
Hui was born in Shishi, Fujian. Therefore, he is very concerned with the development of his hometown. He said that the central government attached great importance to the development of the Western Taiwan Straits Economic Zone, and he was very proud to witness the swift progress in his hometown.
He believed that supportive policies of the central government would provide more business opportunities to Fujianese businessmen, and he also called for more compatriots to participate in the construction of Fujian.
Shimao Group has contributed to many projects in Fujian. For example, by the end of 2010, Shimao will finish capping off the highest building in Fujian—a skyscraper of 270 meters in the central business area of Fuzhou. Two residential buildings measuring 260 meters high will also be started in Xiamen on May 28.
In addition, Hui regards the Pintan Comprehensive Experimental Zone (Fuzhou) to be very promising, and he plans to set up the Cross-straits Investment and Construction Co to promote the economic cooperation between the two sides of the Taiwan Straits. He also advocates that the rich natural resources on the Western Coast should be combined with the technical advantages and human resources of the Eastern Coast, so that people from both coasts can cooperate and expand into the global market.
