Hong Kong SAR Government Financial Secretary Paul Chan said on the 19th that Hong Kong’s macroeconomic situation is improving and its fiscal situation is stable, which has been recognized by international rating agencies. In recent months, a lot of funds have been actively invested in the Hong Kong stock market, adding a positive atmosphere to Hong Kong stocks.
Paul Chan published a blog on the same day, saying that global investment sentiment has changed significantly in recent months. Hong Kong stocks have recently broken through the 19,000 point level, rising to a high of more than 9 months, and transactions have increased significantly. Last week, there was a single-day transaction volume of more than HK$200 billion. The Hang Seng Index has accumulated more than 3,300 points in the past four weeks, an increase of 20%.
He said that with the market’s expectation that interest rates will peak and the full withdrawal of property market demand management measures, the residential property market has also improved significantly. House prices have reversed the 10-month decline and tended to stabilize. The transaction volume increased to more than 8,500 in April. House prices remain stable and the transaction volume increases, which is in line with the expectations of the SAR government when it introduced the relevant policies.
Chan Mo-po said that in its latest assessment of Hong Kong’s economy published in May, Standard & Poor’s maintained Hong Kong’s rating outlook as stable. The main reason is that Hong Kong’s economy will continue to recover steadily, the property market will stabilize, and public finances will tend to balance in the next three years or so.
“It is true that the recovery among different industries is still uneven, and industries such as retail and catering are still trying to adapt to the challenges brought about by the changes in the consumption patterns of citizens and tourists.” Chan Mo-po said that the SAR government has also responded to market changes and taken the initiative to create more favorable market conditions and atmosphere, striving to create new growth points and new volume for Hong Kong together with all sectors of industry and commerce.
Chan Mo-po said that the just-concluded Tai Ping Qingjiao Festival attracted more than 50,000 citizens and tourists from home and abroad to visit Cheung Chau. In addition to bringing more people and adding to the lively atmosphere, grand events also directly bring substantial benefits to the market. Following the various grand events in the first half of the year, the exciting events in the second half of the year will soon be announced. These grand events are bound to add vitality and consumption momentum to the market, providing citizens and tourists with more good places and consumption choices.