Hong Kong's Legislative Council will convene on 20 May 2026 to resume the Second Reading debate on the Stamp Duty (Amendment) Bill 2026. The meeting will also feature motions on strengthening Hong Kong's role as an offshore Renminbi business hub and increasing average living space in the Northern Metropolis to create a more livable metropolitan area.
Hong Kong’s Legislative Council (LegCo) announced on 18 May 2026 that it set to reconvene on 20 May 2026 to continue deliberations on key legislative and policy matters, including the resumed Second Reading debate on the Stamp Duty (Amendment) Bill 2026.
Prof Hon Michael NGAI’s motion on “Strengthening Hong Kong’s function as an offshore Renminbi business hub to contribute to the Renminbi internationalisation process”
Wording of the motion
That the Outline of the National 15th Five-Year Plan explicitly stipulates “accelerating the construction of a financial powerhouse’, ‘promoting the internationalisation of the Renminbi (‘RMB’)” and “enhancing the level of capital account openness”; in order to seize strategic opportunities and implement the national plan, Hong Kong must achieve new breakthroughs in key financial areas, build a virtuous ‘onshore-offshore’ cycle, and give full play to its unique advantages as an international financial centre and the world’s largest offshore RMB business hub; to complement and support the SAR Government in formulating Hong Kong’s first five-year plan, and effectively align with the Outline of the National 15th Five-Year Plan, this Council urges the SAR Government to incorporate the following proposals into Hong Kong’s five-year plan, including actively improving the financial infrastructure for offshore RMB business, broadening the application scenarios of offshore RMB, vigorously promoting offshore RMB product innovation across different key areas (including equities, bonds, green finance, commodities, gold and risk management tools), and increasing the liquidity of offshore RMB, so as to further advance the internationalization of RMB, thereby consolidating and enhancing Hong Kong’s status as an international financial centre and contributing to the country’s construction of a financial powerhouse.
Hon YIU Ming’s motion on “Increasing the average living space per person in the Northern Metropolis to build a ‘Blissful Northern Metropolis’ ideal for living”
Wording of the motion
That in the report of Hong Kong 2030+: Towards a Planning Vision and Strategy Transcending 2030, the Government has estimated Hong Kong’s overall land requirement in the future based on an assumed 10% to 20% increase in the average flat size; the Northern Metropolis (‘NM’), with the provision of more than 3 000 hectares of new development land, is well-equipped to fulfil the vision of increasing the average living space per person; in order to support the Government in formulating Hong Kong’s first five-year plan, and for the comprehensive development of NM into a metropolitan area ideal for living, this Council urges the Government to increase the average living space per person in NM, including relaxing the allocation standard per person for public rental housing in the area on an early and pilot implementation basis, as well as encouraging developers to provide more ample living space in private development projects in the area, and to expedite the construction of various ancillary facilities in the area, thereby building on all fronts a ‘Blissful NM’ ideal for living.
