Chen Maobo happy to see the orderly adjustment of the property market is not loose
The Financial Secretary, Chen Maobo, said in an interview with Bloomberg that the government is happy to see an orderly adjustment in the real estate market. There is no need to take any action to support the property market, nor is there any plan to relax the control measures of the real estate market.
He also mentioned that two weeks ago, in response to social demands, it was necessary to study whether there is a need to improve the mortgage insurance for first-time home buyers of small and medium-sized flats. However, there is no intention to act now. It is stressed that the Government only lists the items to be considered and there is no time for launching the measures. table.
Chen Maobo also said that under the influence of various factors such as Sino-US trade conflicts and normalization of interest rates, the global economy is gradually losing its growth momentum and calling on all parties to be alert to the challenges facing the Hong Kong economy.
Liu Yixiang means that it is too early to reduce the hot words.
The Secretary for Financial Services and the Treasury, Mr Lau Yi-yin, pointed out at the Asian Financial Forum yesterday that the property market’s property market counter-cyclical measures would reduce the number of mortgages and stabilize the property prices.
At present, the property price adjustment in Hong Kong is about 8%. It is still too early to say that it is still too early to stabilize the property market. It still depends on factors such as property prices and supply. He said that the government has no timetable but will closely monitor market development, prices and supply.
Turning to the overall economy of Hong Kong, Liu Yixiang said that the current economic environment in the periphery is uncertain and the Asian and local economies are under pressure. Although Hong Kong’s economic growth forecast for the whole year last year was 3.2%, which was slower than the first two quarters of last year, Hong Kong has a significant role and substantial investment in Guangdong, Hong Kong, Macau and Daoke District, and it believes this can support economic growth.
For the recent decline in the Hong Kong dollar to a level close to 7.85, Liu Yixiang believes that mainly due to the strength of the US dollar, the future trend of the Hong Kong dollar will depend on the pace of the US Federal Reserve’s interest rate hike, the government will also pay attention to the relevant situation.
At the Asia Finance Forum luncheon, Chen Maobo said that the market has experienced anxiety and instability this year. With the rise of protectionism, the global market has challenges, and trade barriers have also increased the cost of doing business, which has dragged down the economy. He pointed out that the SAR Government plans to set up a statutory “corporate rescue procedure" to provide feasible assistance programs to help companies tide over their business difficulties and retain their positions.
However, he stressed that protectionism will not emerge in Hong Kong. The government will continue to support multilateral trade and support the free flow of funds and talents. As a small open economy, Hong Kong is vulnerable to global changes. However, it is believed that Hong Kong’s financial system can still cope with challenges and be buffered in a hostile environment.