HK Monetary Authority warns against growth risks
Growth did occur in Hong Kong last year but what about in 2012?
The Monetary Authority's end-2011 review of the economy presented a rosy picture of a buoyant Hong Kong: the banking sector's total loans rose 20% and residential mortgage loans increased 8%, said Deputy Chief Executive Arthur Yuen. Profits also rose in interest and non-interest income, with total deposits up 11%.
Lying in wait beneath this brilliant surface, however, are serious threats to this growth in 2012.
Yuen said Hong Kong's business sector this year should:
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Monitor credit growth, asset quality, funding strategies, liquidity positions and risk management.
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Conduct more on-site examinations of Mainland-related business.
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Closely watch the local property market.
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Closely monitor European market developments .
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Tags: Monetary Authority, Arthur Yuen, Hong Kong
