Government to intensify property market stability: FS Tsang

About 50,000 to 60,000 units will be released in the next years.

According to a government release, Financial Secretary John Tsang said the Government will ensure the property market's stability, using supply and mortgage measures.

Speaking to the media at the airport after returning from Tokyo, Mr Tsang said about 50,000 to 60,000 units will be provided in the coming years.

Mortgage loan growth has receded, he said, adding these measures have helped the property market's steady development.

Asked about the effect of the US Government's third round of quantitative easing, or QE3, on Hong Kong, Mr Tsang said he did not see any direct impact but the Government will closely monitor developments.

During his Tokyo visit, Mr Tsang said he met with US Federal Reserve Board Chairman Ben Bernanke, exchanging views on the economic outlook of the US, Europe and China.

He also met Citigroup Chief Executive Vikram Pandit and UBS Chief Executive Officer Group Asia Pacific Chi-won Yoon.

Over a lunch, he met Hong Kong people working or doing business in Japan to better understand Japan's economic situation.