Hong Kong Financial Secretary Chen......>

CHINA PRESS: Hong Kong Financial Secretary Chen Maobo said HK housing prices

have already surpassed the level seen just before the Asian Financial Crisis of

1997, the 21st Century Business Herald reported Tuesday. Chen was quoted as

saying the HK government has no intention to loosen its controls on the property

market, which date back to 2009. He said he worries about activities in the

current property market which "are unreasonable," according to the newspaper. In

the first five months of this year, the average price of a medium- to

small-sized home in HK rose 9.1% y/y to a level 76% higher than the peak in

1997.  Though transactions are still robust, the sector seems to have cooled

down slightly recently. (21st Century Business Herald)