Chen Jiaqiang expects that the short-term increase in US interest rates will put pressure on the market and have little impact on the property market

The government lowered its forecast for Hong Kong's economic growth this year from 2% to 3.5% to 1% to 2%.

Former Secretary for Financial Services and the Treasury Chan Ka-keung pointed out that Hong Kong's economy is affected by the US interest rate hike and the performance of local exports. It is expected that the interest rate hike will put pressure on the market in the short term or impact investment sentiment, but it will not cause a serious recession.

Chen Jiaqiang also believes that the US interest rate hike has little impact on the Hong Kong property market, and he is not too worried about property prices. Because properties are not traded as often as the stock market, there will be a lag.