They are counting on land sales and property taxes for less than 17% of their revenues this year, according to VincentChan of Credit Suisse, once fiscal transfers from the central government are taken into account.
The general trends outlined in the latest report, authored by Credit Suisse analysts VincentChan and Peggy Chan and drawing on the work of many, are very bullish on Chinese consumer and economic activity overall, with GDP growth continuing at 9% a year on average.
His more prominent supporters include Hang Lung Properties Chairman Ronnie Chan and Shui On Land Chairman Vincent Lo, ranked 14 and 25 on the Hong Kong Rich List, respectively.