Hong Kong Financial Secretary Paul Chan Mo-po Met with Key Banks to Discuss Issues on Supporting Mortgages for Hong Kong Citizens & Small-Medium Enterprises (SMEs), Hong Kong Real Estate Asset Prices Have Decreased in 2024, Hong Kong Has 360,000 SMEs & Hires 45% of Private Sector Workforce
16th August 2024 | Hong Kong
Hong Kong Financial Secretary Paul Chan Mo-po had met with key banks (14/8/24) to discuss issues on supporting mortgages (loans) for Hong Kong citizens & Small-Medium Enterprises (SMEs). Hong Kong real estate asset prices have decreased in 2024. Hong Kong has 360,000 SMEs, and hires 45% of the private sector workforce. In 2024 March, Hong Kong extended the 80% & 90% Small & Medium Sized Enterprise Financing Guarantee Scheme by 2 years till-end March 2026, with the financing scheme supported by 35 banks including Citi, HSBC, Standard Chartered, Hang Seng Bank, Bank of East Asia, Nanyang Commercial Bank, Dah Sing Bank & DBS Bank. Hong Kong Budget 2024/2025: “Creating Favourable Conditions for Property Recovery – The Government announced on 25 October 2023 the adjustment of demand-side management measures for residential properties. The relevant adjustments included shortening the applicable period of the Special Stamp Duty (SSD) from three years to two years, reducing the rates of the Buyer’s Stamp Duty (BSD) and the New Residential Stamp Duty (NRSD) by half, and introducing a stamp duty suspension arrangement for incoming talents’ acquisition of residential properties. Among them, the stamp duty suspension arrangement has been well-received, with over 500 applications approved. This is a testament to the appeal of Hong Kong for overseas talents.”
“ Hong Kong Financial Secretary Paul Chan Mo-po Met with Key Banks to Discuss Issues on Supporting Mortgages for Hong Kong Citizens & Small-Medium Enterprises (SMEs), Hong Kong Real Estate Asset Prices Have Decreased in 2024, Hong Kong Has 360,000 SMEs & Hires 45% of Private Sector Workforce “
Hong Kong Financial Secretary Paul Chan Mo-po Met with Key Banks to Discuss Issues on Supporting Mortgages for Hong Kong Citizens & Small-Medium Enterprises (SMEs), Hong Kong Real Estate Asset Prices Have Decreased in 2024, Hong Kong Has 360,000 SMEs & Hires 45% of Private Sector Workforce
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