Hong Kong Financial Secretary John Tsang predicted a “soft landing” for the real estate market and said the city will keep its currency peg to the U.S. dollar, blamed for helping drive home prices up about 70 percent.
Hong Kong will ease some of its property-cooling measures if home prices extend their decline amid Europe’s worsening credit crisis and a global economic slowdown, the city’s financial secretary said.
Hong Kong Financial Secretary John Tsang said he’s boosting land supply as part of a policy to reassure people that the housing market can grow in a more “healthy” way.
"Street protests and clashes coming to an end does not mean the people have reconciled after the split, nor has the political reform outlook become brighter."
- John Tsang on Dec 13, 2014