Hong Kong's economy is making a comeback! 📈 According to Paul Chan, the Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) government, things are looking up with a stable financial situation, positive market vibes, and an upbeat stock market.
In his latest blog post on Sunday, Chan highlighted that global market sentiment has improved recently. The Hang Seng Index, Hong Kong's benchmark stock index, has soared past 19,000 points, hitting a nine-month high! 🚀 Market turnover has also seen a significant boost.
But that's not all! The property market is bouncing back too. After a 10-month losing streak, housing prices have stabilized, and property transactions are on the rise. This shows that the government's policies aimed at lifting property curbs are starting to kick in. 🏡
Chan also pointed out that Standard & Poor's latest rating for Hong Kong presents a stable outlook for the city. Amid steady economic recovery, a stabilized property market, and a move towards a more balanced fiscal situation, things are definitely heading in the right direction. 🌆
However, Chan noted that some sectors are still experiencing uneven recovery. To tackle this, the HKSAR government plans to create more favorable conditions to boost consumption and cultivate new growth drivers. So, stay tuned for more exciting developments! 💡
Reference(s):
cgtn.com
