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Home ownership aim of HOS: FS


The Home Ownership Scheme?s main goal is to help people buy their own homes.

 

Financial Secretary Paul Chan made the statement today after attending a radio show.

 

However, he said the Government has to allow buyers to resell their properties under certain restrictions.

 

?We recognise that due to change in circumstances or career development, people may need to, say for example, trade up in the market. That's why, in the mechanism, they are allowed to resell the property to other buyers subject to certain restrictions.

 

?But the policy objective remains primarily for people to buy affordable housing for self-occupation.?

 

On the ongoing trade war between China and the US, Mr Chan said the direct impact on Hong Kong?s gross domestic product is estimated to be limited, but warned of other external pressures.

 

?The indirect impact would be much wider, and with the heightening tension and the increasing coverage of the trade war, we expect the impact would be larger and this will hang around for a considerable period.

 

?Apart from affecting the real economy, it also affects the capital market and financial market as well as investment sentiment. That indirect impact on Hong Kong will be more significant but that remains to be seen because the trade war involves multiple parties and the reaction of other parties are still unclear.?

 

He said the Government will monitor the situation and roll out measures to support small and medium-sized enterprises if needed.


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