Xinhua News Agency, Hong Kong, May 19 (Reporter Huang Qiantian) Financial Secretary of the Hong Kong SAR Government Paul Chan Mo-po said on the 19th that Hong Kong's macroeconomic situation is improving and its fiscal position is stable, which has been recognized by international rating agencies. In recent months, a lot of funds have actively invested in the Hong Kong stock market, adding to the positive atmosphere of Hong Kong stocks.

Paul Chan posted a blog on the same day that global investment sentiment has changed significantly in recent months, and Hong Kong stocks have recently broken through the 19,000 level, rising to a more than nine-month high, with a significant increase in transactions, and last week there was a daily turnover of more than HK $200 billion. The Hang Seng Index has gained more than 3,300 points, or 20%, in the past four weeks.

He said that with the expected peak of interest rates and the complete withdrawal of demand management measures, the residential property market had also improved significantly, with property prices reversing the 10-month decline and leveling off, and transaction volumes increasing to more than 8500 in April. Property prices remained stable and the volume of transactions increased, which was in line with the expectations of the SAR Government when it introduced the relevant policies.

In its latest assessment of Hong Kong's economy, published in May, Standard & Poor's maintained a stable outlook for Hong Kong's rating on the grounds that the economy would continue to recover steadily, the property market would stabilise and public finances would move towards balance over the next three years or so, Mr Chan said.

"To be sure, the recovery is still uneven across sectors, with sectors such as retail and catering still struggling to adapt to the challenges posed by shifting consumption patterns among citizens and travellers." Chan said that the SAR government has also taken the initiative to create more favorable market conditions and atmosphere in response to market changes, and strives to create new growth points and new increments for Hong Kong together with the industrial and commercial sectors.

Mr Chan said that the past Tai Ping Jiao Festival had attracted more than 50 000 people and visitors from home and abroad to Cheung Chau. In addition to bringing more people and adding to the lively atmosphere, the event also directly brings substantial benefits to the city. Following the events of the first half of the year, the exciting events of the second half will soon be announced. These events are bound to add vitality and consumption impetus to the market, and provide more good places and consumption choices for the public and tourists.