Hong Kong govt has not decided on GDP forecast downgrade: Leung
HONG KONG (AFX-ASIA) - Financial Secretary Designate Anthony Leung said the government has not decided whether or not it will downgrade its 2001 GDP growth forecast from the current estimate of 4 pct, the Hong Kong Economic Journal reported. However, Leung said in the report the economy has been affected by external factors, noting the U.S. economy has been apparently slowing down. He said the Administration has recently issued a series of government policies aimed at stabilising property prices, but whether the property market will attract more home buyers remains to be seen. Leung said the growing number of Hong Kong residents buying properties in Shenzhen is expected to have some impact on the Hong Kong property market as well.
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