Economic stability: Secretary for Financial Services & the Treasury Professor KC Chan says the Government will introduce measures to stabilise Hong Kong's economy and help the public overcome inflation problems.

As there are regulatory and operational differences between Hong Kong and Mainland financial markets, further integration of them will take time, Secretary for Financial Services & the Treasury Professor KC Chan says.

Speaking on a radio talk show today Professor Chan said the Government will facilitate co-operation between the two markets, adding the two jurisdictions' stock exchanges may consider joining forces to develop new markets.

He said Hong Kong should continue to attract Mainland enterprises to do business in Hong Kong and should further strengthen its asset management centre by assisting Mainland investors to invest in overseas markets.

To enhance Hong Kong financial market competitiveness the Government will organise overseas promotions to attract more overseas companies to list on the city's exchange.

Stable economy

When asked if the Government will do something to prevent local stock and property markets from overheating, Professor Chan said the Government will explore ways to ensure Hong Kong's economic stability and help the public overcome inflation problems. He also urged investors to make proper risk assessments.

Noting the US sub-prime mortgage crisis may affect Hong Kong's economy in the short term, Professor Chan said the city should make long-term investments in infrastructure.

On anti-poverty measures he said the Financial Secretary will start consulting the public on his coming Budget next week and will explore ways to alleviate poverty.