Former HKMA CEO Norman Chan Tak-lam made eight rounds of tightening on mortgage financing during his decade-long tenure. Photo:  Xiaomei Chen
Former HKMA CEO Norman Chan Tak-lam made eight rounds of tightening on mortgage financing during his decade-long tenure. Photo: Xiaomei Chen

exclusive | ‘Spicy policies’ helped fortify Hong Kong’s market, save homeowners from negative-equity trap, defaults, ex-HKMA CEO Chan says

  • Eight rounds of mortgage tightening under Chan’s watch, dubbed as ‘spicy policies’, helped the city tackle property speculation, fend off widespread defaults
  • Negative equity has not been an issue in Hong Kong’s property market since it peaked at 103,000 cases in 2003

Former HKMA CEO Norman Chan Tak-lam made eight rounds of tightening on mortgage financing during his decade-long tenure. Photo:  Xiaomei Chen
Former HKMA CEO Norman Chan Tak-lam made eight rounds of tightening on mortgage financing during his decade-long tenure. Photo: Xiaomei Chen
READ FULL ARTICLE