Yu Weiwen: Hong Kong's economic growth remains robust, and property prices stabilize

The President of the Hong Kong Monetary Authority, Richard Yu, stated at the Legislative Council's Financial Affairs Committee meeting that the Hong Kong economy continues to make steady progress, with robust economic growth, an increase in Hong Kong stock and new share fundraising, a rebound in private sector sentiment, a stable Hong Kong dollar exchange rate, and a warming property market with stabilized property prices.

Richard Yu pointed out that property prices in Hong Kong have rebounded since the second quarter of last year, rising 3.3% for the entire year, ending a three-year decline. In the first few weeks of this year, the leading index from real estate agents indicated a 1.6% increase in property prices, with trading remaining active.

He mentioned that there are still uncertainties in the external environment this year, including the pace of interest rate cuts by the Federal Reserve and geopolitical issues. The Hong Kong Monetary Authority will continue to closely monitor market changes and maintain financial stability in Hong Kong