Chen Maobo: Market expectations for policies have cooled down, the Hong Kong government is closely evaluating the situation.

Hong Kong Financial Secretary Paul Chan Mo-po stated that after the US interest rate cut in mid-September, the Hong Kong residential property market regained momentum, with property prices gradually stabilizing and market transactions picking up. With the US rate cut and mainland China's economic support policies, the atmosphere in the Hong Kong stock market improved and trading became more active. However, the recent US presidential election results added uncertainty to the global political and economic situation, leading to a cooling of market expectations for policies, and the Hang Seng Index fell. Currently, the Hong Kong government is closely monitoring market changes and conducting dynamic assessments, and details such as next year's economic growth and inflation forecasts will be announced in the "Financial Budget" to be released on February 26 next year. Paul Chan Mo-po pointed out that this year has been challenging in terms of external environment, although inflation pressures in advanced economies have eased and major central banks have started cutting interest rates this year, interest rates are still not low, which still have a negative impact on demand and global economic growth. The International Monetary Fund forecasted last month that the global economic growth rate will slightly slow down to 3.2% this year, and the growth rate will also remain at 3.2% next year. Looking ahead, Paul Chan Mo-po stated that a series of economic stimulus measures introduced by the mainland will support the Hong Kong economy, and it is expected that the Hong Kong economy will maintain growth momentum in the remaining time this year, with full-year economic growth expected to be close to the lower end of the original forecast range. In terms of investment promotion, Paul Chan Mo-po stated that the three batches of key enterprise partnership schemes introduced so far are expected to bring in HK$42 billion in investment to Hong Kong, creating over 17,000 jobs. As of September this year, the Hong Kong Trade and Investment Promotion Department has also assisted 470 companies in setting up or expanding their businesses in Hong Kong, bringing in over HK$45 billion in direct investments and creating approximately 5,700 jobs. Furthermore, Secretary for Transport and Housing Frank Chan Fan indicated that with the commissioning of the third runway system on November 28, the handling capacity of Hong Kong International Airport from 2035 onwards will increase by 50%. The Hong Kong government will continue to promote cooperation with Zhuhai Airport, leverage on the strengths of both aviation networks, enhance "Hong Kong-Zhuhai Airport Direct" passenger services, and jointly develop international cargo services to expand synergies. Both parties will also promote the development of high-end aviation industry cluster, supporting the high-quality civil aviation development in the Guangdong-Hong Kong-Macao Greater Bay Area. He also mentioned that Director of the Hong Kong and Macao Affairs Office Xia Baolong recently emphasized the importance for Hong Kong to develop the three "ports" of land, sea, and air. The Hong Kong government will continue to leverage on Hong Kong's unique advantages in terms of geography, systems, and infrastructure to actively promote and consolidate Hong Kong's position as an international aviation hub and maritime center.