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Following is a transcript of the media session given by the Chief Executive, Mr Tung Chee Hwa, after visiting Wong Tai Sin District this (Wednesday) afternoon:-

Reporter: Mr Tung, can you sum up the current trend in the property market and how it affects Hong Kong's economy?

Mr Tung: We are extremely concerned about any rapid fall of the property market because the stability of the property sector is very important to Hong Kong's overall stability and to the stability of our banking sector. So, we are paying particular attention to this particular issue. We are looking at it very, very carefully and what we would try to do is to ensure that property prices remain reasonably stable.

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Note: Please also refer to the Chinese transcript, which will be issued later.

End/Wednesday, May 20, 1998

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