Greater Bay Area

Chen Maobo: Hong Kong's macroeconomic situation is improving and its fiscal situation is stable


The Financial Secretary of the Hong Kong Special Administrative Region Government, Chan Mo po, stated on the 19th that Hong Kong's macroeconomic situation is improving and its financial situation is stable, which has been recognized by international rating agencies. In recent months, many funds have actively invested in the Hong Kong stock market, adding a positive atmosphere to the stock market. On the same day, Chen Maobo posted a blog post stating that global investment sentiment has shown a significant shift in recent months. Hong Kong stocks have recently broken through the 19000 point level, reaching a high of over 9 months, with a significant increase in transactions. Last week, there was a single day transaction volume exceeding HKD 200 billion. The Hang Seng Index has accumulated over 3300 points in the past four weeks, with a 20% increase. He stated that with the market's expected interest rate reaching its peak and the comprehensive lifting of demand management measures in the real estate market, there has been a significant improvement in the residential property market. Property prices have reversed their 10 month continuous decline and are stabilizing, with transaction volume increasing to over 8500 in April. The property prices remain stable, with an increase in trading volume, which is in line with the expectations of the SAR government when implementing relevant policies. Chen Maobo said that in the latest assessment of the Hong Kong economy released by Standard&Poor's in May, the outlook for Hong Kong's rating was maintained as stable, mainly based on the sustained and steady recovery of the Hong Kong economy, the stabilization of the property market, and the trend of public finance towards balance in the next three years or so. "Undoubtedly, there is still an uneven recovery among different industries, and industries such as retail and catering are still striving to adapt to the challenges brought by the transformation of consumer patterns among citizens and passengers." Chen Maobo said that the SAR government has also responded to market changes, taken the initiative, and made every effort to create more favorable market conditions and atmosphere, striving to work together with industry and commerce to create new growth points and new increments for Hong Kong. Chen Maobo stated that the recent Taiping Qingjiao Festival has attracted over 50000 citizens and domestic and foreign tourists to visit Changzhou. The grand event not only brings more people and adds a lively atmosphere, but also directly brings substantial benefits to the market. Following the various grand events of the first half of the year, the exciting activities of the second half will also be announced soon. These grand events are bound to add vitality and consumer motivation to the market, providing citizens and travelers with more good places and consumption choices. (Lai Xin She)

Edit:Lubaikang Responsible editor:Chenze

Source:Xinhua network

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