Chen Maobo: Residential prices in Hong Kong recently stabilized.

Hong Kong Financial Secretary Paul Chan admitted that the recent Hong Kong stock market has been doing well, but this has not been fully reflected in the retail and catering industry. However, the situation in the retail industry has stabilized in recent months, with seasonal fluctuations not exceeding 1%. The market sentiment has improved recently, with more foreign tourists visiting Hong Kong, and there will be many major events in the city in the coming months. He also stated that recently, residential property prices have stabilized, and there has been an increase in applications for development projects on land at concessionary prices. Some primary market properties have been selling well, starting to absorb some of the inventory in the residential market. With confidence boosted by interest rate cuts, the secondary market is expected to become active again, improving market sentiment and reassuring consumers.