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slice of life

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Why you can trust SCMP

From the pages of the South China Morning Post this week in 1964

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The Commonwealth Development Corporation announced in London that it had agreed, in principle, to take part in a new mortgage company to be formed in association with the Hong Kong government.

The announcement brought closer a home ownership scheme for the colony's white-collar, middle-income group.

The new company was expected to provide mortgage loans on flats in an approved price range in middle-income housing schemes.

The corporation was slated to provide up to HK$16 million, with the Hong Kong government matching the figure.

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The Hongkong and Shanghai Banking Corporation issued HK$15 million in HK$1, 50-cent and 10-cent coins in response to the annual Lunar New Year demand.

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