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Following is the transcript of the remarks by the Financial Secretary, Mr John C Tsang, at the question-and-answer session of a press conference on the "Economic Situation in the Second Quarter of 2010 and Latest GDP and Price Forecasts for 2010" at the Information Services Department Press Conference Room today (August 13):
Reporter: Mr Secretary, can you explain why you didn't, regarding your measures suppressing the speculation in the property market, can you explain why you didn't actually change the twenty-million mortgage-related measures? Why did you fix that and not expand it to properties or units that are actually cheaper? Do you think that currently the two measures are already enough to be effective to suppress any speculation?
Financial Secretary: What do you mean? Can you explain that?
Reporter: Which part? You have a twenty million luxury homes mortgage ratio that you previously set out in the Budget but you didn't change that this time, why don't you expand it?
Financial Secretary: I have also explained that the Monetary Authority will be announcing further measures later, maybe you can pay attention to that.
Reporter: But do you think the two measures that you hadˇK?
Financial Secretary: I think you should listen to what the Monetary Authority has to say.
Reporter: But regarding your twoˇK
Financial Secretary: But you haven't heard what they are saying.
Reporter: I know I know, forget about the mortgage bit, you just set two measures, the new measures, do you think that will be effective in stabilising speculation in the market?
Financial Secretary: We are not looking at specific measures. What I have introduced under four headings is a whole basket of measures, and I think taken together this basket of measures will be effective.
(Please also refer to the Chinese portion of the transcript.)
Ends/Friday, August 13, 2010
Issued at HKT 19:17
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