Hong Kong Financial Secretary: The impact of the Fed's interest rate cuts still needs to be assessed

Hong Kong Financial Secretary Paul Chan Mo-po wrote that the comments of US Federal Reserve officials in recent months have once again raised market expectations that US interest rates will begin to fall, but the timing and extent of the interest rate cuts, as well as their impact on easing asset market pressures and local investment sentiment, still need to be carefully assessed. Looking ahead, it is still necessary to increase economic momentum at full speed and make good arrangements for medium- and long-term development, including accelerating the development and application of innovation and technology, empowering traditional industries, improving competitiveness through more new technology applications or innovative business models, and bringing in more new customers and consumption; it also promotes the leading role of scientific research and innovation in economic development, and adds strength to Hong Kong's economy.