Hong Kong’s economy is showing strong signs of recovery, with a stable financial situation, a positive market outlook, and an upbeat stock market, according to Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) government.
In a blog post on Sunday, Chan highlighted the improved global market sentiment, noting that the benchmark Hang Seng Index has exceeded 19,000 points, reaching a nine-month high. “Market turnover has increased significantly,” he said, reflecting renewed investor confidence.
The property market is also experiencing a resurgence. “Property market transactions have increased, and housing prices have stabilized after a 10-month losing streak,” Chan stated. He attributed this turnaround to government policies aimed at lifting property curbs, which are “taking effect” and stimulating the real estate sector.
Chan referenced the latest Standard & Poor’s rating for Hong Kong, which shows a stable outlook for the city amid steady economic recovery. The rating agency highlighted Hong Kong’s stable property market and a trend toward a more balanced fiscal situation as positive indicators.
Despite the overall positive trends, Chan acknowledged that recovery remains uneven across different sectors. “The HKSAR government will create more favorable conditions to prop up consumption and cultivate new growth drivers,” he assured, emphasizing the government’s commitment to supporting all areas of the economy.
Reference(s):
cgtn.com
