Transcript of remarks by STH (with photos)

     Following is a transcript of remarks by the Secretary for Transport and Housing, Professor Anthony Cheung Bing-leung, at a media session after a visit with the Secretary for Development, Mr Paul Chan, to two proposed sites for public housing today (February 5):

Reporter: You mentioned about Norman Chan's remarks, from the MA (the Monetary Authority) yesterday about the mortgage ratio, etc. Did you see that there is currently an overheating problem and when exactly can the government throw out further measure to stablise the property market?

Secretary for Transport and Housing: Well, what I can say is that the Government has all along been monitoring certain key factors, in terms of evaluating the performance of the market, and mortgage to income ratio is one of those factors. And there are other factors as well. So judging from the various factors that we have been monitoring, we feel that the current market is really too active. But of course our main objective is to maintain a stable and healthy development of the private property market. So our position has always been that: should there be any undue fluctuation, which would affect the stability of our macro economy as well as the financial and monetary system, then the Government will roll out suitable measures.

Reporter: Some district councillors have expressed concern about inadequate transport system...

Secretary for Transport and Housing: Coming back to the two sites that we have just looked at, as Mr. Chan has just said, we have got support from the relevant district councils. They fully understand the need for developing those sites for public housing, whether rental or HOS (Home Ownership Scheme). Before we proceed with construction, as a usual practice, we'll conduct technical evaluation. We'll make sure that there will be sufficient transport infrastructure. We'll take care of any environmental impact. We'll introduce any mitigation measures necessary. And of course, we'll make sure that the community facilities are there to serve the additional population to be located on the two sites.

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

Ends/Tuesday, February 5, 2013
Issued at HKT 22:25