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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 a radio programme this morning (March 2):
Reporter: First of all, the cooling measure announced last Friday, do you think it really helps stabilise the market? Or is it fair to people who really want to buy flats?
Secretary for Transport and Housing: As far as I understand, the anti-cyclical (countercyclical) prudential measures introduced by the HKMA (Hong Kong Monetary Authority) are aimed at ensuring that the financial market and the banking system would be stable, in light of the recent fluctuations in the property market. I think the HKMA would like the banks to exercise more prudence to ensure that the banks don't overlend to buyers, so the measure in itself is mainly to give due consideration to the need for the financial system's stability.
(Please also refer to the Chinese portion of the transcript.)
Ends/Monday, March 2, 2015
Issued at HKT 12:23
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