Property measures are here to stay: FS Tsang

The measures are effective, he says.

According to a release, Financial Secretary John Tsang says demand-management measures are effective in curbing property-price rises, and the Government will retain them to ensure the property market's stability.

Before boarding a flight to Bali today for the Asia-Pacific Economic Cooperation Finance Ministers' Meeting, Mr Tsang told reporters that property prices rose more than 20% last year, while this year's rise is much smaller - demonstrating the demand-management measures' effect.

He hoped the Legislative Council will pass the relevant bill as soon as possible to send a clear message that the Government will retain the measures.

At the APEC meeting, Mr Tsang will meet with representatives of other countries to exchange views and information on regional macroeconomic and financial developments.