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Property cooling measures to stay

January 14, 2016

Chief Executive CY Leung says the recent dip in residential rent and property prices shows the Government's efforts to increase housing supply over the past three years have been effective and there is no need to relax the cooling measures for now.


Mr Leung was responding to people's questions during a radio phone-in programme this morning on his 2016 Policy Address.


He said property prices are still beyond what many people can afford so the cooling measures will stay, adding the key to solving the housing issue is increasing supply. The Government will continue to find more land for public housing and press ahead with new development area projects.


In response to a caller's question on the mortgage tightening measures introduced to curb property speculation, Mr Leung said they are necessary for maintaining the financial system's stability when interest rates start to rise, adding financial policy is separate from housing policy.


On his plan to attract students from Belt & Road nations to study in Hong Kong, the Chief Executive noted that the move will not only foster bonds with people in the region, but benefit local students as they can have opportunities for exchanges with overseas students.


When a caller expressed concern about a manpower shortage in public hospitals, Mr Leung said the issue cannot be solved by money alone, but the Government will do its best to improve the situation. He also noted the Policy Address contained a $200 billion hospital development plan.