4
Transcript of FS's media session
Following is the transcript of the media session by the Financial Secretary, Mr Donald Tsang, after officiating at the opening ceremony of the Clothing Industry Fair '96 this (Wednesday) morning:
Question: Mr Tsang, There has been a sharp drop in the private property on the market. How would it affect prices and also potential property buyers? Do you think there are needs for some changes to the present anti-speculation policy?
FS: Well, the anti-speculation policy has been very effective and we have been reviewing these measures regularly. They are taking good effect. The number of flats on the market particular on the supply side is determined by the market itself. It's not a question of what the government wants to do and what not to do. The present situation is supply has been lower than expected. You must look at the issue not only from the supply way, but also look at the number of vacant flats on the market and take a break for property under construction. And I believe the supply overall is still quite satisfactory because prices have been very stable and the whole property market has consolidated.
End
White Paper on Annual Report on HK to Parliament
The Annual Report on Hong Kong 1995 to Parliament (Annual Report) has been presented to Parliament by Her Majesty's Government today (Wednesday).
As in past years, the Annual Report has been published in the form of a White Paper both in London and Hong Kong. It will be tabled at the Legislative Council on March 27.
A government spokesman said Her Majesty's Government had agreed in 1985, during the parliamentary debates on the Hong Kong Bill, to produce annual reports on Hong Kong and to lay them before Parliament.
The purpose of this series of reports is to keep Parliament informed of developments in Hong Kong on a regular basis.