Page 353 - 2019 6th AFIS & ASMMA

here. I wanted to just note to pick up on your point, the opportunity
costs of not having affordable housing and the right housing policy. You
talked about capital misallocation. I don't know how many of you are
familiar with this plan of the Greater Bay Area embracing Hong Kong
and the neighboring Chinese cities. But I went to a panel discussion
chaired by Pony Ma from Tencent, and the Hong Kong representatives
at both panels were only real estate developers. Their great contribution
was to build incubators and never mind they had nothing to put in
it. Because the whole incentive structure of Hong Kong is, as you say,
getting rich by putting up a building. That is not going to be the future.

My final words are to echo Simon on one of the values of these Session II
conferences, which is to exchange information. I was hoping that I
would have somebody from Korea Housing Finance on this panel, but in
between the breaks, I read their publication and learned their innovative
ways to work, whether it's on the reverse mortgage side or helping
builders out to build affordable housing to increase their incentives.
I hope all of you have an opportunity to look it up. Thank you all for
making my job such a pleasure. Enjoy your coffee break.

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