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Ronnie Chan: HK Must Think Own Way out for Economy
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Hong Kong's economy is overly reliant on the real estate market, yet the high land price policy is a "game" that has its limits, commented Ronnie Chan, the chairman of HANG LUNG PPT (00101.HK), who is going to step down from his position, at an event. Especially when Hong Kong's property prices climb to the world's peak, it will be difficult for them to remain high if the rest of the economy is at its slightest deviation. In his view, the chaos of the past few years cut Hong Kong deep; coupled with the repercussions of epidemic and anti-globalization, Hong Kong must think about the way out for its economy, Chan opined, not foreseeing China-US relations could be restored in three to five years, and expecting the US would definitely suppress Hong Kong. As Hong Kong's policy of "one country, two systems", currency and judicial system have remained intact so far, Chan believed that Hong Kong could leverage on the advantages of the Mainland's reforms and openness to find a way to float. AAStocks Financial News |
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