Hong Kong | Hong Kong will loosen mortgage rules and cut an alcohol tax in a series of measures seeking to support the flagging real estate sector and boost spending, as China’s slowdown weighs on the city’s economy.
Chief Executive John Lee said he will raise the amount of loans homebuyers are allowed to borrow for some properties and broaden a residency-by-investment program. The city’s leader also announced a drastic cut to a tax on liquor, looking to boost a services sector struggling with declined tourism and weak sentiment.
