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Following is the transcript of the Secretary for Housing, Planning and Lands, Mr Michael Suen, speaking to the press after attending a TV program this (November 14) morning.

Reporter: Have you considered to relax the mortgage ceiling?

Secretary for Housing, Planning and Lands: Mortgage ceiling. I think it is of course a matter for us to consider. But more importantly, I think it is also a matter which we need to seek advice from the Monetary Authority because it concerns the stability of banking system. And I think yesterday, my colleague, Frederick Ma, he has already replied to a question in the Legislative Council to the effect that having consulted with the Hong Kong Monetary Authority, we have decided not to do that.

(Please also refer to the Chinese portion of the transcript.)

End/Thursday, November 14, 2002

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