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1995 Performance
The Residential Property Market
"The property market has stabilised. By the end of 1995, average prices for residential flats were 24 per cent lower than the peak levels reached in the early part of 1994. They were lower in real terms than three years earlier." (Para 19)
Financial Markets
a 23
"Hong Kong's stock market was the best performing in the region in 1995, with per cent increase in the Hang Seng Index for the year." (Para 20)
"Our commitment to the linked exchange rate at its current parity is absolute." (Para 21)
"We have both the expertise and the resources that we need to defeat speculators against our currency." (Para 21)
The Exchange Fund
"The Administration is committed to openness and transparency in the operations of the Exchange Fund." (Para 22)
"The foreign exchange assets in our Exchange Fund now stand at US$57 billion." (Para 22)
HONG KONG PRESENT
1996-97 Prospects
1996 Forecasts
"I expect inflation to ease appreciably in 1996 to an annual rate of 7.5 per cent." (Para 28)
"On current indications it seems unlikely that the unemployment rate will revert quickly to the very low levels to which we are more accustomed." (Para 28)