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Hong Kong Government Suspends Land Sales in Response to Market Conditions – Financial Secretary Discusses Short-Term Fluctuations and Consumer Vouchers

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2024-01-06 HKT 12:35

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  • Paul Chan: Don’t worry about short-term fluctuations in income from land sales. The issue of issuing consumer vouchers needs to be carefully weighed.

The government has suspended the sale of residential and commercial land this quarter. Financial Secretary Paul Chan Mo-po said that the government believes that this season is not suitable for selling residential land, but this does not mean that it will no longer sell land in the next quarter. He also said that there is no need to worry about short-term fluctuations in land sales revenue. The important thing is that the government continues to build land and launch it when the market needs it, so as to alleviate the upward pressure on the property market.

Chen Maobo also said that the issue of issuing consumer vouchers must be carefully weighed, saying that the financial situation and the economy are gradually returning to normal, and the environment is different and cannot be considered in the same way as before.


2024-01-06 04:35:00
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