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Following is the transcript of remarks by the Secretary for Transport and Housing, Professor Anthony Cheung Bing-leung, at a media session after attending the Finance Committee meeting of the Legislative Council this afternoon (July 5):
Reporter: Secretary, do we still need these measures when the property market has already stabilised?
Secretary for Transport and Housing: We still need these measures because although the measures have, to a certain extent, cooled down the market, the market still has certain fluctuations. It has not entirely settled in our view. But, of course, it all depends on what happens in the external economic environment. So, we are keeping a very close watch on the market trends. As the Financial Secretary said very clearly at the outset of the introduction of the demand-side measures, these measures are exceptional measures under exceptional circumstances. So, should the market return to normal of course, we will adjust the measures, including withdrawing the measures. But at this moment we do not want to send any wrong signal to buyers in the market. We still feel that the market could be volatile, so we have to be very careful about any bubble risk.
(Please also refer to the Chinese portion of the transcript.)
Ends/Friday, July 5, 2013
Issued at HKT 19:28
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