Chan Mo-po: The Federal Reserve's interest rate cuts lead to a more accommodative interest rate environment, which is beneficial for investment and business in Hong Kong
Recently, the Federal Reserve cut interest rates by 0.25%. Hong Kong's Financial Secretary Paul Chan stated that this rate cut allows the market to understand that the interest rate environment is becoming more accommodative, which is relatively favorable for investment and business planning. More importantly, he believes that the U.S. will continue to have several more rate cuts. When asked about the impact of the rate cut on Hong Kong's economy, Chan pointed out that Hong Kong's economic growth in the first half of the year was about 3%, and the forecast for full-year growth remains at 2% to 3% without adjustment for the time being. The policy address proposed promoting the Airport Authority and financial institutions to expand gold storage in Hong Kong, aiming to exceed 2,000 tons in three years and build a regional gold reserve hub. Chan indicated that this is the first step to enrich Hong Kong's role as an international financial center. The government has already identified locations and will expand facilities at the airport. He also mentioned that gold is an important strategic material, and the mainland is one of the largest gold markets in the world. Hong Kong's work in this area is "close to the water," allowing it to take the first step and proceed step by step
According to the Zhitong Finance APP, recently, the Federal Reserve cut interest rates by 0.25%. Hong Kong's Financial Secretary Paul Chan stated that this rate cut allows the market to understand that the interest rate environment is becoming more accommodative, which is relatively favorable for investment and business planning. More importantly, he believes that the United States will continue to have several more rate cuts.
When asked about the impact of the rate cut on Hong Kong's economy, Chan pointed out that Hong Kong's economic growth in the first half of the year was about 3%, and the forecast for annual growth remains at 2% to 3% without any adjustments for the time being.
The policy address proposed to promote the Airport Authority and financial institutions to expand gold storage in Hong Kong, aiming to exceed 2,000 tons in three years and build a regional gold reserve hub. Chan indicated that this is the first step to enrich Hong Kong's role as an international financial center. The government has already identified locations and will expand facilities at the airport. He also mentioned that gold is an important strategic material, and the mainland is one of the largest gold markets in the world. Therefore, Hong Kong's work in this area is "close to the water," allowing it to take the first step and proceed step by step
