The Chief Executive announced in his 2007-08 Policy Address that the Government would press ahead with the work on heritage conservation. To take forward this Policy Initiative, the Development Bureau and the Urban Renewal Authority will adopt a district-based approach in considering the development and revitalisation of the older areas in Wan Chai.

To take forward various revitalisation initiatives for old Wan Chai, the Old Wan Chai Revitalisation Initiatives Special Committee, comprising members of the Wan Chai District Council, experts on heritage conservation and revitalisation, and representatives from the Development Bureau and the Urban Renewal Authority, was established to study the overall revitalisation initiatives of old Wan Chai and to consult the relevant stakeholders.