Is raising interest rates likely to drag down the port? Chen Maobo: Hong Kong may not follow suit, no need to worry too much about interest rate risk

The U.S. Federal Reserve held its first meeting this year, and Chairman Powell predicted that it would raise interest rates in March and began to shrink the balance sheet.

Faced with the risk of interest rate hikes, the Hong Kong property market may adjust accordingly.

In an interview with the local media, Financial Secretary Paul Chan pointed out that even though the US is on the verge of raising interest rates, Hong Kong may not keep up with the speed and magnitude of interest rate hikes, mainly because the Hong Kong banking system is still sufficiently funded.

He also reassured the market that the market should not be overly concerned about the risk of interest rate hikes. Since today’s buyers have a strong ability to hold goods and the pressure on payment is relatively healthy, once the property market adjusts, the property owners may not be eager to sell. The chance of causing systemic risk is low.

Regarding whether he has considered "removing the hot" for the port building, Chen Maobo believes that the "hot trick" is mainly to suppress the demand from outsiders or those with existing properties, and try his best to give priority to citizens who have not yet bought a home.

Therefore, in terms of property market measures, the government will handle it carefully to avoid releasing wrong information and setting off another round of speculation in the property market.